Cordea Savills joins property fund rush

Cordea Savills, the funds arm of property services firm Savills, has launched the UK Income and Growth Fund to acquire prime assets in Britain’s recovering commercial property market. The fund is aiming to raise a total of 1 billion pounds over the next few years, and plans to deliver distributions to investors of over 5 per cent. ‘Despite uncertain prospects in the short term, we believe that UK prime commercial property is fairly priced and will perform well again once the occupational markets return to strength,’ fund director George Tindley said.