LONDON-The third quarter of 2002 saw a massive surge in institutional property investment in the UK, according to new data from the Office for National Statistics. Insurance companies and pension funds were net investors in property by £3.5 billion ($5.5 billion) in the quarter, the highest level of net investments since quarterly records began in 1983. Insurance companies were net investors by £3.3 billion, ($5.3 billion) while pension funds increased their exposure to property by a net £198 million ($300 million).

There was a substantial increase in purchases by insurance companies in the third quarter to a record £4.2 billion ($6.7 billion) counterbalanced by £874 million ($1.4 billion) of sales. Pension funds bought £735 million ($1.1 billion) of property and sold £537 million ($850 million).

Greg Nicholson, Head of Investment at CB Hillier Parker, said: “These latest figures are incredibly strong and reinforce the view that UK institutions view property as an extremely attractive asset class in the current low growth environment. As a whole 2002 has been highly encouraging for the property investment market and property is set to out-perform equities and gilts for the third consecutive year”.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.