The 拢7.2bn (鈧�6.2bn) Hampshire Pension Fund has added a 32,025sqft London office asset to its real estate portfolio.

Canada Life Investments said its LF Canlife UK Property ACS fund has sold Farringdon鈥檚 Superunion building for 拢29.6m to Hampshire County Council, acting as trustees of the UK local authority scheme. Property makes up 7.5% of Hampshire Pension Fund鈥檚 portfolio.

Michael White, head of UK property at Canada Life Investments, said: 鈥淲e have seen office rental values increase to upwards of 拢65 per square foot in Farringdon and Clerkenwell since we acquired this building in 2014.

鈥淭he asset has performed very well and above its benchmark, and we felt it was an appropriate time to sell the property as we direct the ACS more toward a value-add asset management strategy.鈥�

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