Competition among investors for a limited supply of prime UK commercial real estate assets is leading to increasingly aggressive bidding. Prime yields fell 35 basis points in October to 6.58%, the largest monthly fall since at least 1993, Cushman & Wakefield said in its November Business Briefing on the UK Property Investment market.
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).
