Skandia increases portfolio in Kent

Office design news from Morgan Lovell

Published on 03-06-2010

Skandia Property Fund has completed the purchase of the Interchange in Swanley, Kent.

The firm paid £24.77 million for the property and is hoping for a yield of 6.82 per cent per annum from the rental of office design space at the building.

Nigel Pickup, manager of the fund, said: "We have been looking for opportunities across all property sectors as part of a strategic sector approach, but in the current environment ensuring that underlying stock fundamentals are supportive to building long-term performance for the fund and its investors."

The company also recently purchased 180 West George St in Glasgow for £17.4 million.

Skandia is one of the leading investment portfolios in the UK and claims to offer products and services that meet its customers' financial needs and security throughout all phases of their lives.

Posted by Ian Johnson.