Royal Bank of Scotland (RBS) has created five funds, with a total value of £950m, to invest in commercial property in London and the South East.
The five funds cover:
- Thames Valley, with £250m
- Kent, with £200m
- Sussex, with £200m
- south London, with £200m
- Medway, with £100m
RBS said that the funds will offer mortgages to commercial owner-occupiers and will invest in prelet schemes, but will not engage in speculative developments.
The funds will target the industrial, retail and office sectors.
RBS recently launched a similar, £100m fund in Scotland and intends to roll out the concept across the UK if it proves successful.
EGi News 31/07/02
