Halladale Group has announced the final closing of the Halladale Nelson Limited Partnership fund, its first fund aimed at the private investor market.
The group has raised a total equity of just under £11m, giving the fund a total value of more than £30m.
The fund has already invested a total of £17.4m with the remaining capital to be invested in the coming months.
It has recently acquired two properties in Uxbridge and Stafford.
In Stafford it paid £9.5m for 35,000 sq ft of retail and offices while in Uxbridge it bought an 18,600 sq ft office block for £2.93m.
Halladale Nelson is an income-based fund seeking to deliver a return of 6.5% pa to investors from a spread of properties, principally in the retail and office sectors.
Halladale has invested 10% of the equity and will asset manage the property portfolio. The fund will have a life span of seven years.
Halladale chief executive David Lockhart said: “There is a strong appetite for property investments within the private investor market and we look forward to utilising Halladale’s entrepreneurial approach to active asset management to deliver significant returns to our investors.”
Rob Corlett, director of Partnership Incorporations, which raised the equity, said: “This fund is one of the first in the private equity market where a portfolio of properties, rather than a single asset, has been sold down.
“It is a sign of the direction in which this market is heading and when backed by an excellent asset manager in the form of Halladale, provides investors with access to property on a lower risk basis rather than exposure to single assets without the property skills.”
References: EGi News 15/04/05
