SWIP Property Trust purchases £260m portfolio from Aviva

SWIP Property Trust (SWIPPT) has concluded the purchase of a 12-property portfolio from Aviva Investors for circa £260 million, showing a net yield in the region of 7%.

The portfolio includes retail warehouse parks in Beckton and Reading along with offices in south Manchester and Hook, shop units in Bournemouth and industrial units in Crawley and Denham.

Gerry Ferguson, head of UK property fund management for SWIP, said: "Since May, the SWIP Property Trust has been actively investing in a number of prime properties across the UK.  We've taken advantage of high liquidity in the Trust to purchase quality assets for the fund and our latest acquisition represents a well-diversified 12-property portfolio.  With prime assets across each of the main property sectors, this portfolio purchase is in line with our strategy of securing core, quality property with long secure income. "

This latest move follows SWIPPT's recent purchase of a prime distribution warehouse in Runcorn and a multi-let industrial estate in Beckenham.