Skandia Property fund invests £12m in commercial market

The acquisition follows Pickup's first move back into the property market with the purchase of Manchester offices Lakeside 5000 two months ago for £8.7m. Skandia Property's Ipswich purchase coincides with the first favourable returns seen in the commercial property market for nearly two years as property has failed to rally as quickly as equities. Pickup's strategy has been to keep high levels of liquidity in the Skandia fund as investors suffer falling commercial property prices, enabling the fund to pick up long term ‘bargains' in commercial property. SIG senior portfolio manger,...