News releases

Columbus Capital purchases a major London and South East Industrial portfolio

Columbus UK Real Estate Fund, advised by Columbus Capital Management LLP, has completed the acquisition of the majority of the SEAL portfolio from USS. The portfolio was purchased for £30.8m.

15/02/2013

Columbus UK Real Estate Fund, advised by Columbus Capital Management LLP, has completed the acquisition of the majority of the SEAL portfolio from USS. The portfolio was purchased for £30.8m.

The 460,000 sq ft portfolio consists of 7 estates in Uxbridge (x2), Hemel Hempstead, Wokingham, Hook, Alton and Ashford. The estates are all in well established locations and are let for an average weighted term of over 4 years. The passing rent is £6.50 per sq ft and the current vacancy rate is approximately 10%.

In a separate transaction Columbus UK Real Estate Fund, advised by Columbus Capital Management LLP, has acquired Phase I of the Parkfield Industrial Estate in Battersea, London SW11, just to the east of Clapham Junction Station. The estate was acquired “off -market” for £4.25m; an initial yield of 8% and a capital value of £110 per sq ft. The passing rent is £10.85 per sq ft and the current vacancy rate is approximately 15%. The estate adjoins Phase II of the Parkfield Industrial Estate, largely let to Café Nero, which Columbus acquired in March 2012.

Santander has extended an existing senior debt facility to finance the both acquisitions.

Joe Froud, Managing Partner of Columbus Capital Management, commented:

"We set out to build a London and South East multi-let industrial portfolio in 2010 as we anticipated high yields but good occupational demand. The barriers to entry are high due to the smaller lot sizes and demands upon management resource however the occupational performance is as good as anything in our portfolio other than Central London offices.”

Tudor Toone advised Columbus Capital Management on the acquisition of the SEAL portfolio whilst DTZ acted for the vendor. Jones Lang LaSalle and Astranta Asset Management advised Columbus Capital Management on the acquisition of Phase II at Parkfield Industrial Estate, Battersea.

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For further information contact Schroders :

Estelle Bibby, Institutional PR +44(0) 20 7658 3431/ estelle.bibby@schroders.com

Note to Editors:

For trade press only

Columbus Capital Management LLP

Columbus Capital Management LLP (Columbus) is part of Schroders’ real estate investment and asset management business. It is dedicated to executing value added real estate investment strategies in the UK. Columbus is the Investment Adviser to the Columbus UK Real Estate Fund, LP (the Fund) which is the successor to the Gresham Funds. The sponsor of the Fund is Schroder Property Investment Management Limited.

For further information about Columbus Capital Management LLP visit www.columbuscapital.co.uk

Schroder Property

Schroders has managed property funds since 1971 and currently has £10.4 billion (EUR 12.8 billion / US$16.7 billion) of gross property assets under management (at 30 September 2012).

All of the property funds referred to are unauthorised collective investment schemes as defined in the Financial Services and Markets Act 2000. Promotion of these funds is restricted and access to full information about these funds is only available to those exempt from the restriction.

For further information about Schroders’ property business visit www.schroderproperty.com

Schroders

Schroders is a global asset management company with £202.8 billion (€254.5 billion, $327.4 billion) under management as at 30 September 2012. Our clients are major financial institutions including pension funds, banks and insurance companies, local and public authorities, governments, charities, high net worth individuals and retail investors.

Further information about Schroders can be found at www.schroders.com or on Schroders Talking Point www.schroders.com/talkingpoint.

Schroder Property Investment Management Limited and Schroder Investment Management Limited are authorised and regulated by the Financial Services Authority.

Issued by Schroder Property Investment Management Limited. Registration no. 1188240 England.