Henderson’s UK Shopping Centre Fund Secures Extension

Henderson Global Investors has secured a 7 year extension for its c.£650 million flagship UK Shopping Centre Fund, giving it a further life of ten years. The Jersey-based property unit trust, which was established in July 2004, was originally due to terminate in 2014. The Fund Life will now run through until 2021, with a redemption window available in 2017.

Henderson is now entering a process of capital raising for the Fund as it seeks c. £200 million to meet redemptions, to fund redevelopments and to take advantage of opportunities to invest further into prime UK shopping centres.

The Fund invests in a number of prime assets, namely a 1/3 share in Birmingham’s prestigious ‘Bullring’, a 50% share in Buchanan Galleries in Glasgow, a 50% share in Whitefriars in Canterbury and 100% ownership of St James Centre, Edinburgh.

According to Henderson, the Fund has delivered a 5.0% total return over the last year, rising to 13.3% per annum over three years.