Schroders Capital’s real estate team has acquired a 59-bed care home in South West London for £14.2m on behalf of Greater Manchester Pension Fund (GMPF).
The Sherwood Grange Care Home is located in Kingston-upon-Thames and is leased to Care UK.
GMPF has completed five acquisitions totalling £130m over the past 12 months, recycling the proceeds from the £155.25m sale of the 95,000 sq ft 3-8 Whitehall Place office in London.
Philip Scott, fund manager for GMPF at Schroders Capital, said: “Exiting 3-8 Whitehall Place at the peak of the market in the summer of 2022 has provided a fantastic opportunity to capitalise on the cyclical buying opportunity in the UK commercial real estate sector with our reinvestment strategy.
“Over the past 12 months, we have deployed the sales proceeds into our key conviction sectors and significantly boosted both income and total returns from the portfolio. We have significant further funds to invest in 2025 and look forward to building on this momentum.”
