Fund manager's move (From The Oxford Times)

Fund manager's move

12:23pm Friday 16th July 2010 in

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A top UK property fund manager has bought a prominent location in Oxford city centre. Henderson Global Investors has acquired 6-7 High Street, from DTZ Investment Management for £5.05m, on behalf of its £160m Henderson UK Property Fund.

The asset, totalling 12,525 sq ft, comprises a period mixed-use building with retail space on ground and basement levels, plus an additional three upper floors currently used as a gym.

The retail space is let to Rymans until June 2011 and the gym is let to Bourton Mill.

Cameron Fraser, fund manager of the Henderson UK Property Fund, said: “We recognised an excellent opportunity in this highly reversionary unit which is in a prime location within Oxford’s main fashion district.

“It sits very well within the fund which aims to acquire assets with active enhancement opportunities as we believe it has very strong prospects for future rental growth, as well as providing regearing opportunities.

“The fund now owns 28 assets and is well placed to take advantage of any current market opportunities in the UK. It has outperformed the benchmark consistently over the past five years.”