The acquisition of four properties so far this year has boosted The Charities Property Fund’s net asset value to £418m.
The fund said it had returned 2% in the first quarter and 8.8% over the 12 months to 31 March.
The four properties were purchased for almost £50m, reflecting an average yield of 7.5%.
The properties included: a multilet industrial estate in Epsom, Surrey (pictured), for 7.4%; a leisure club in Rayleigh, Essex, for 7%; a modern distribution warehouse in Burton-upon-Trent, Staffordshire, for 9%; and a modern office building in Farringdon, EC1, for 7.1%.
The fund has 1,226 charities as investors, no borrowing and aims to deliver a high and secure level of income.
samantha.mcclary@estatesgazette.com
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