George Gay, Fund Manager
The sale price reflects a 18% premium to the pre-marketing independent valuation and a 46% premium to the independent valuation 12 months ago. The profit realised for the fund highlights the strength of demand from occupiers for industrial property, especially in Central London, and the investor appetite for such assets. From our perspective however, we deemed the combination of current valuations and the completion of our active management activity as an opportune time sell and lock in gains. In terms of reinvestment, we are using the proceeds to ensure that our portfolio – a blend of physical real estate assets and property via pan-European listed equities – remains balanced and will be adding to several favoured equity names.
Bought in 2015 for £3.5m, sold in 2020 for £7.26m
Read our latest fund update for the lowdown on our hybrid structure, active approach and favourite locations.