Newcore Capital, a specialist U.K. social infrastructure real estate fund manager, has purchased three assets in England to serve social infrastructure uses. The assets include two education-enabling assets in the university cities of Oxford and Cambridge and a food-distribution center in Colchester.
The total purchase price represented more than £11 million ($14 million).
The assets in Cambridge and Oxford were acquired on behalf of Newcore’s longstanding core-plus separate accounts and represent 600 further education places in the renowned university cities. Both sites are leased to Aspect International Language Academy (trading as Kaplan International). Newcore said there is significant scope to provide additional educational uses, such as special educational needs and childcare, if the tenants ever vacate.
The food distribution center in Gosbecks Road, Colchester, was acquired on behalf of Newcore’s latest value-add fund, the Newcore Strategic Situation