We specialise in owning property which can generate increasing returns from both income and capital. We look to invest in university towns and city centres across dfferent sectors in buildings either let to multiple tenants or single occupiers. We expect to grow rental and capital values over the long term through refurbishment or development.

Office

Investment summary

We focus on city centre locations, close to public transport connections. These locations are generally in areas we consider to have long-term rental growth.

Top Holdings by valuation at 31 March 2021

  • 2/3 St James’ Gate, Newcastle
  • Boulton House, Manchester
  • One Derby Square, Liverpool
  • Combined Value = £47m

Properties

25

Area

669,711sq ft

Value

£116.3m

Industrial

Investment summary

We have a mix of multi-let and single-let properties which saw good rental growth last year. We are expecting this to continue as many properties have further rent reviews and lease expiries to come.

Top Holdings by valuation at 31 March 2021

  • 25/27 Blackmoor Road, Verwood
  • Point Four Industrial Estate, Avonmouth
  • Clayton Industrial Estate, Burgess Hill
  • Combined Value = £23m

Properties

10

Area

409,593sq ft

Value

£40.7m

Leisure

Investment summary

A number of operators have struggled in the last few years. The majority of our tenants in both schemes continued to trade well until Covid 19. Post Covid-19, we are focused on letting the vacant space and our marketing initiatives will help to increase footfall.

Top Holdings by valuation at 31 March 2021

  • Broad Street Plaza, Halifax
  • Sol, Northampton
  • Combined Value = £35.5m

Properties

2

Area

306,970sq ft

Value

£35.5m

Retail

Investment summary

Our units are in good locations with a mix of local and national brands. We are working closely with our tenants to ensure that they can trade effectively in light of the ongoing pandemic.

Top Holdings by valuation at 31 March 2021

  • Aldi, Gosport
  • Copperfield Centre, Dartford
  • Lendal, Museum Street, York
  • Combined Value = £14.5m

Properties

7

Area

125,203sq ft

Value

£21.5m

Retail Warehouse

Investment summary

This sector continues to perform well. Our holdings are located in the South East and we expect to see continued rental growth in the medium term.

Top Holdings by valuation at 31 March 2021

  • Bridge Park, East Grinstead
  • Harnham Business Park, Salisbury
  • Combined Value = £9.2m

Properties

2

Area

53,870sq ft

Value

£9.2m