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Transactions - MAY 14, 2015

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M&G makes £167m office acquisition

by Andrea Waitrovich

M&G Real Estate has acquired Bedfont Lakes Office Park in London from Aberdeen Asset Management for £167 million ($263 million). The transaction was made on behalf of the M&G Property Portfolio.

The 374,661-square-foot office property is located less than one mile from Heathrow Airport and 15 miles west of central London. Current tenants at Bedfont Lakes Office Park include a range of both national and international companies such as BP International, Birds Eye Iglo, Targus Europe and Stratus Technologies Systems Ltd. M&G Real Estate was represented by Knight Frank, and JLL acted for Aberdeen Asset Management.

The region and sector are a core focus for institutional investment in the United Kingdom. M&G Real Estate forecasts the southeast U.K. office market as a whole to experience strengthened rental growth, given the growing tenant demand and shortage of class A office parks.

M&G Real Estate is currently selling two U.K. of

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