Belgian commercial property delivered its highest return since 2008 last year, at 4.6%, according to the IPD Belgium Annual Property Index. The improving returns were delivered despite a third consecutive year of capital decline, at -1.2%, though this represents a considerable slowing of capital depreciation, by 140 basis points, from the -2.6% suffered in 2009.
Legal & General Investment Management’s (LGIM’s) managed fund has acquired Tesco Yarrow Road Poole from clients of abrdn for £46.1 mln (€54 mln).
