USS Purchases UK Shopping Centre
Universities Superannuation Scheme (USS) has purchased a UK shopping centre for £31.25 million (€35.7 million). The St John’s Centre, located in Perth, Scotland, was sold by BAE Systems Pension Fund Trustees. The property comprises approximately 13,500 square metres of retail and office space; Primark is the anchor tenant.
In other news, USS has acquired two London office properties from Land Securities for £48.5 million (€55.4 million). The transaction includes 110 Cannon Street, which is undergoing a 6,800-square-metre refurbishment, and Martin House, which is located to the rear of 110 Cannon Street.
“The purchase of this property increases the amount invested by USS into UK real estate over the last two years to