Independent UK law firm Burges Salmon has advised LGPS Central’s UK Direct Property Fund on its first two acquisitions: an industrial and car showroom investment on Crown Road, Enfield, and the Clayton Business Centre, a multi-let industrial estate in Hayes, West London.
LGPS Central Limited manages the pooled assets of eight Midlands-based Local Government Pension Scheme funds with combined assets of approximately £55bn. With a target to invest up to £500m across the UK in a balanced portfolio, the UK Direct Property Fund will place responsible investment as core part of its investment strategy, ensuring that ESG principles are fully integrated into the acquisition process and during ongoing asset management as the portfolio expands.
Director Will Hall, senior associate Becky Bicknell and partner Richard Clark formed the core real estate team advising LGPS Central, with additional specialist input from across Burges Salmon’s Built Environment sector group.
Will Hall comments: “It has been a pleasure to work with LGPS Central on its first two acquisitions and we look forward to working with the team again as it continues to grow its investment portfolio and further its responsible investment agenda.”
Mike Hardwick, Investment Director at LGPS Central adds: “The UK Direct Property Fund is designed to take advantage of the economies of scale that come with real estate investing, providing a cost-effective investment solution for LGPS Central Partner Funds as assets under management increase. We’d like to thank Will, Richard and the whole Burges Salmon team for expertly guiding us through our first acquisitions.”
Burges Salmon has a well-established Built Environment practice and is nationally recognised for providing strategic and practical legal advice on developing, investing in and occupying all forms of UK property. The firm advises corporates, private clients, public sector bodies and conservation organisations operating in many of the UK’s industry sectors including real estate, energy, banking, transport and food and farming.