Aviva Investors and PSP Investments acquire Hoxton Campus in Central London

(London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), and the Public Sector Pension Investment Board (‘PSP Investments’), one of Canada's largest pension investment managers, have announced the acquisition of the ‘Hoxton Campus’, which consists of four offices located around Hoxton Square in the Shoreditch area of London, N1.

Hoxton Square sits at the east end of London’s Tech City, the most established tech cluster in Europe, and a London sub-market that Aviva Investors believes is likely to experience strong future demand for office space given its scale and ability to attract and nurture talent in the era of knowledge capitalism.

The four office buildings included in the transaction together represent 55,974 sq ft (5,200 sq m) of lettable office space, creating a ‘campus’ of complementary assets. Floor space ranges from 1,105 sq ft to 5,276 sq ft, with two-thirds of the net internal area having been subject to complete redevelopment behind the retained facades, and the remaining accommodation significantly refurbished. Three of the acquired assets sit directly on Hoxton Square with the fourth located on Old Street.

The deal represents the fifth investment that Aviva Investors and PSP Investments have made together since 2015, originally investing in a portfolio of commercial properties in central London. In 2019, Aviva Investors and PSP Investments announced the intention to invest up to £250 million in commercial property across the CB1 Estate of Cambridge, a master-planned sustainable, mixed-use development spanning 26 acres in the Station Road area of the city.

Last year Aviva Investors and PSP Investments extended their relationship into continental Europe by acquiring Galleri K, a mixed-use retail, leisure and office asset located in the centre of Copenhagen’s retail district. Copenhagen is one of 12 European hubs Aviva Investors expects to thrive as a ‘city of the future’’ due to its pool of talent, culture and connectivity, combined with a highly-developed approach to sustainable living.

Daniel McHugh, CIO, Real Assets, at Aviva Investors, said:

“Our partnership with PSP Investments continues to go from strength to strength and we are delighted to expand the relationship further into an exciting and dynamic subset of the London market. London continues to represent the richest market of workers employed in knowledge-intensive sectors, with the tech cluster being of significant scale and importance in the global market.”

Stéphane Jalbert, Managing Director, Real Estate Investments - Europe and Asia Pacific, PSP Investments, said:

“Building on our existing partnership with Aviva Investors, PSP Investments is continuing its strategy of investing in dynamic markets while ensuring best-in-class sustainability standards. Hoxton is one of the most creative hubs in London, as well as an important centre of technology which we believe will outperform in the long term.”

George Fraser-Harding, Fund Manager at Aviva Investors, said:

“Despite the challenging environment faced over the last 12 months, we expect London to be a stand-out performer relative to other global knowledge hubs, given its talent pool, connectivity, corporate clusters and scalability. This particular sub-market should fair especially well with a dynamic occupier base beginning to return to offices. These buildings are well-located and offer the quality and character of space that we’re seeing significant demand from tenants for, positioning them well to deliver long-term growth and, ultimately, positive performance within our portfolio.”

For more information contact:

A picture of Katie Ormrod

Katie Ormrod

Aviva Investors Media Relations

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Steve Ainger

Head of Media Relations

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. 

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Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 04 August 2021. 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. 

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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 £366 billion in assets as at 31 December 2020.

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