A private equity fund owned by Macquarie Bank, of Australia, plans to invest €2 billion (£1.3 billion) in the European property market over the next two years.
Macquarie Global Property Advisors (MGPA) said that it was looking at opportunities in offices and logistics in France, offices in Britain and residential and retail deals in Scandinavia. The company said that it would set up a joint venture to develop a €250 million portfolio of logistics distribution parks with Affine, the French developer.
MGPA is one of several investors looking to splash out on commercial property across Europe. Its news came as Sir Alan Sugar said that he was gearing up to spend up to £1 billion on commercial property. The Amstrad founder and star of BBC Television’s The Apprentice has hired Steven Lewis, a former director of Burford, the London property company, to buy industrial warehouse assets or development schemes.