Newcore Capital, the UK-focused real estate investment manager specializing in social infrastructure, has acquired two education assets in Cambridge and Oxford as well as a food distribution asset in Colchester.

The assets were acquired at a total cost of around GBP 11 million (USD 14 million), representing a net initial yield of 6.1%. The properties in Cambridge and Oxford were procured on behalf of core-plus separate accounts. Simultaneously, the food distribution center in Gosbecks Road, Colchester, was purchased for Newcore's latest value-add fund, the Newcore Strategic Situations V (NSS V), which concluded its equity raising in May 2023, amassing GBP 190 million (USD 242 million). NSS V continues to actively engage in the market for educational properties and various social infrastructure assets, encompassing waste, open storage, healthcare, and veterinary sectors. The properties in Cambridge and Oxford offer versatility for a broad range of educational uses, including childcare and special educational needs, in the event of the current tenant choosing to vacate. Additionally, Colchester, being a pivotal hub for food distribution, aligns with Newcore's strategic interest, given the increasing societal emphasis on this sector.