Newcore Capital acquires social infrastructure assets in East London

Newcore Capital has acquired Tesco Bromley-by-Bow in East London as part of a covered land play.

The property, located within the London Borough of Tower Hamlets, consists of a 70,000-square-foot Tesco supermarket, a 558-space car park spanning 5.6 acres and a gasoline filling station.

The social infrastructure specialist purchased the site from British Land for £30 million ($38 million) on behalf of its latest value-add fund, Newcore Strategic Situations V (NSS V), which closed with equity commitments of £190 million ($239 million) in May 2023.

NSS V, which is still in its investment phase, will invest in physical social infrastructure assets, including education, healthcare, storage, life sciences, waste management and transport, across the United Kingdom, with a principal focus on Greater London and the Southeast of England. Recent acquisitions include a