Aviva Toon into Newcastle Business School

Hanover Green have advised Aviva Investors on the purchase of the Newcastle University Business School. Located in Newcastle City centre, next to St James Park, the property was let to the University on a long term lease and provides office and lecture theatre’s in the c.100,000 sq ft building. The property was acquired for over £50 million and continues Aviva’s investment in property secured against secure covenants and in this instance a Russell Group University tenant.

Renos Booth, Fund Manager commented “This is a building we have been interested in acquiring for some time and Hanover Green have helped us secure this prime asset to further grow the Lime Property Fund and meet our clients requirement for property offering long term income secured against the highest quality covenants.