Publications

- July 1, 2011: Vol. 5, Number 7

To read this full article you need to be subscribed to Institutional Real Estate Europe

USS Buys UK Head Office of Siemens

by

Universities Superannuation Scheme (USS) has acquired the UK headquarters of Siemens, located in Frimley, for £42.35 million (€47.5 million), for a net initial yield of 7.0 percent. The property was sold by clients of Invista Real Estate Investment Management.

The office campus, Sir William Siemens Square, totals approximately 17,000 square metres and was completed in 2002. It is currently let through 2027, with a tenant break option in 2022.

Graham Burnett, head of property at USS, commented: “We are pleased to confirm the purchase of this well-secured, modern office investment. The fund has now invested in excess of £1 billion [e1.12 billion] into UK property over the last two years.”

USS was represented by DTZ and King Sturge,

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy