Australian pension fund targets Central London offices and undervalued UK assets
Australian superannuation fund Aware Super has entered into a strategic partnership with UK real estate investment firm Delancey to deploy up to £1 billion into the UK property market.
Launched in 2024, the investment strategy will target sectors and assets that offer attractive risk-adjusted returns for Aware Super’s 1.1 million members. The partnership will initially focus on office properties in prime Central London locations. It also plans to explore opportunities in undervalued UK retail, logistics and mixed-use properties.
The strategy will integrate sustainability and data-led decision making throughout the investment lifecycle, with a particular emphasis on decarbonisation and driving behavioural change.
Aware Super and Delancey will pursue a broad range of investment types, including stabilised assets, development funding, and recapitalisation of existing capital structures. Both single asset and portfolio transactions, as well as corporate acquisitions, will be considered.
This marks a significant expansion of the relationship between the two organisations. Aware Super already holds a 22% stake in Get Living, the UK’s leading build-to-rent neighbourhood operator, which was originally founded by Delancey.
The new initiative underlines Aware Super’s growing commitment to the UK property market and follows wider trends of institutional investors seeking long-term value in prime and emerging real estate sectors.