AXA Real Estate has made its first acquisitions for its recently-launched UK Long Lease Property Fund with the purchase of two supermarkets for approx. €45.4m. The Fund has acquired a supermarket let to Waitrose on the High Street in Sevenoaks, Kent, for €13.7 m, and a 5,200 sqm supermarket let to Tesco in Mickleover, Derby, for €31.4 m. The newly launched open-ended fund has raised an initial €149m. The acquisitions are in line with its strategy of a core portfolio of UK long lease assets. The focus will be on strong property fundamentals across a range of sectors. The fund’s five-year target is around €1.2bn.
