The Cadogan Group increased its portfolio 13.5% to £5.17bn as its offices portfolio delivered strong capital returns in excess of 22%.
The group, which published its 2014 annual results this week, said that the property portfolio benefited from the lower inflation and interest rates over the year, helping to drive up spending in the company’s core retail assets.
The retail portfolio grew 14.8% from £1.9bn in 2013 to more than £2.2bn by the end of December 2014.
Cadogan’s residential portfolio rose to more than £2bn in value from £1.8bn despite a quietening of the market for luxury properties.
The strongest portfolio growth came from its office holdings which saw a 22.2% increase year-on-year to £528m from £418m in 2013.
Cadogan reduced its gearing marginally from 13.3% to 13.1% over the course of 2014 with an average debt maturity of 16.6 years.
