CBRE wins Merseyside Pension Fund mandate

MERSEYSIDE Pension Fund, the UK’s fifth largest local authority pension fund, has awarded a 4-year contract to CB Richard Ellis to provide a property and asset management service on its investment portfolio.

The fund manages assets of over £4.8billion and has a direct property portfolio of circa £240million in value, comprising over 1.1m sq ft in 26 properties across the UK between Stirling, Cardiff, and London.

The portfolio includes supermarkets, retail parks, offices, industrial estates and shopping centres. Most recently, the fund acquired on a major supermarket store in Heswall on a sale-and-leaseback deal. 

Other locally-owned properties include the Cunard Building, which is currently undergoing a major refurbishment and re-letting programme.

Under a separate mandate, CB Richard Ellis Real Estate Finance provides the fund with strategic investment advice, and Colliers CRE provides independent valuations.

The fund’s head of pensions, Peter Wallach, said that his investment team were looking forward to working with John Lea and the asset management team throughout CB Richard Ellis’ regional offices to enhance the fund’s value.