What does the M&G property fund own?

M&G, which recently split from its parent Prudential, has temporarily suspended dealings in its property portfolio. It said Brexit-related political uncertainty and structural shifts in the UK retail sector had made it difficult to sell commercial property to meet demand from investors to have their cash returned.

M&G’s top holdings at the end of October 2019 were:

1. New Square, Bedfont Lakes office park – 7.09% of the fund

Office development in Heathrow

2. Wales Designer Outlet, Bridgend – 5.07%

Tenants include Marks & Spencer, Gap and Next

3. Parc Trostre retail park, Llanelli, Wales – 4.5%

Tenants include Marks & Spencer, Debenhams, New Look, Primark, River Island and Next

4. Fremlin Walk shopping centre, Maidstone – 3.47%

Tenants include House of Fraser, Laura Ashley, HMV, Paperchase, River Island, Superdry, Topshop and Zara

5. Iron Mountain distribution warehouse, Belvedere, Kent – 3.41%

6. Riverside retail park, Chelmsford – 3.39%

Tenants include Sports Direct, Matalan, Home Bargains, Poundstretcher, Smyths Toys

7. Aurora, 120 Bothwell Street, Glasgow – 3.21%

Office building

8. The Gracechurch Centre, Sutton Coldfield near Birmingham – 2.82%

Tenants include House of Fraser, New Look, Sports Direct, Topshop, River Island and JD Sports

9. Enterprises House, Uxbridge – 2.47%

UK and European headquarters for Coca-Cola

10. Lindis retail park, Lincoln – 2.42%

Tenants include Sainsbury’s, Matalan, Bargain Buys and Domino’s


Leave a Reply