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Phoenix Group, the UK’s largest long-term savings and retirement business, and BlueWater Capital, the specialist long-income investor, have invested in two long-dated commercial ground leases. The ground rents are secured on well-located operating assets that are structured to provide a robust and stable cashflow to back Phoenix Group’s long-dated annuity liabilities.
The first investment comprises a 318-unit commercial private rented asset that was recently re-purposed from redundant office space. It is located adjacent to Wembley Park tube station (Zone 4) in North London and a 2-minute walk from Wembley Football Stadium. Tenants have access to co-working facilities and a communal kitchen, as well as a gym, private cinema and additional social spaces with a pool table, table football and table tennis equipment.
The second investment was made in a dual branded hotel building located adjacent to Heathrow Airport, offering 190 self-catering apartments (branded as Staybridge Suites®) and 433 more traditional hotel rooms (branded as Holiday Inn®), with restaurants and a large car park to the rear. The hotel is well placed to service the airport, attracting a range of guests, from passengers to pilots and airport staff to contractors, with easy access to Terminals 2, 3 and 5 via the 24/7 Heathrow Hoppa shuttle bus.
The asset will generate long-term inflation-linked income from a modern, well-managed hotel with potential opportunity for further growth. The building is highly efficient with excellent soundproofing, ensuring an ‘A’ rated energy performance certificate (EPC) and a ‘Green Building’ classification under the Phoenix sustainability criteria.
Phoenix Group worked alongside AgFe, the independent advisory and asset management firm to complete both transactions. BlueWater Capital sourced and structured the transactions and will provide real estate management and investment advisory services going forward.
“Helping to secure the long-term financial security and operation of UK business assets continues to be of critical importance to Phoenix. Both assets have strong fundamental attributes whilst also generating long term stable income for our annuity book.”
AgFe are delighted to work with Phoenix and BlueWater Capital to provide long-term, index-linked financing to high-quality, well-managed properties in key occupational markets. We look forward to working with both stakeholders on the management of these assets in the future.
We are delighted to have invested alongside Phoenix Group. These two transactions demonstrate our ability to source and structure quality off-market investments and provide insurers with access to secure, long-dated, asset backed cashflows that match their liabilities
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Press enquiries
Dilesh Sangaran
PR Manager
Telephone:
07974 604 323
Email:
dilesh.sangaran@thephoenixgroup.com
Please note
Phoenix Group plc changed its name to Standard Life plc on 2 March 2026. The name (being Phoenix Group plc) contained in the press release was accurate as at the original publication date and has not been updated.