Aviva Investors completes purchase of Orpington gateway development in south east london

Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has completed the forward purchase of the Orpington Gateway development in South East London for a gross development value of £50 million.

The development, which features 150,000 sq ft of 14 multi-let trade and industrial development units of between 4,176 sq ft and 33,565 sq ft, uses energy-saving technologies with the aim of reducing carbon emissions by up to 35 per cent[1]. Set across a 5.9-acre site, the development is 25 per cent pre-let with construction scheduled to complete in June 2019.

Richard Moore, Asset Manager, Aviva Investors, said:

“Located in a significant commercial area for trade, retail and distribution, this is a prime trade and logistics asset in an affluent inner-M25 location, offering our investors strong potential returns. With frontage directly onto one of the major thoroughfares, the development is an attractive asset in a core location and sits well with our real estate strategy for large, high-quality assets in robust economic locations.”

Montagu Evans acted as advisor to Aviva Investors.

Direct Real Estate is a key part of Aviva Investors £43 billion Real Assets platform. David Skinner and Daniel McHugh lead a team of 160 real estate professionals in London, Paris and Frankfurt, managing £20 billion of assets.

ENDS

IMPORTANT INFORMATION:

The information and opinions contained in this document are for use by the financial press and media only. No reliance may be placed for any purpose on the information or opinions contained in this document nor should they be seen as advice. 

The press release is provided on the basis that Aviva Investors Global Services Limited is not causing the communication of a financial promotion under exemption of the Financial Promotion Order, as Aviva Investors Global Services Limited has no control over the way in which an article based on this press release is prepared and published by the financial press and media. 

Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 6 February 2019. Unless stated otherwise any views, opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature.  The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested. 

Issued by Aviva Investors Global Services Limited, registered in England No. 1151805.  Registered Office: St Helen's, 1 Undershaft, London, EC3P 3DQ   Authorised and regulated by the Financial Conduct Authority.

Aviva Investors

Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £348 billion as at 30 June 2018.

AVIVA PLC

· Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers

· In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index. 

· Aviva's asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £345 billion in assets. Total group assets under management at Aviva group are £490 billion.

· Aviva helps people save for the future and manage the risks of everyday life; in 2017, we paid out 98% of all our claims across all our markets and insurance products. We paid £34.6 billion in benefits and claims in 2017.

· By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.

· The Aviva newsroom at www.aviva.com/newsroom includes links to our image library, research reports and our news release archive.

· For an introduction to what we do and how we do it, please click here www.aviva.com/about-us.

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