Property investor Timothy James is to list a new central London residential REIT aiming to build a portfolio worth more than £500m.
K&C REIT plans to raise around £6m from its listing of ordinary shares, for which it will seek admission to trading on AIM next month.
K&C will own and manage central London homes through tax-efficient acquisition of residential property special purpose vehicles. Contracts have been exchanged on an initial SPV acquisition.
Allenby Capital is acting as nominated adviser and broker to the company.
James said: “By taking advantage of a REIT’s favourable tax structure, we will have the ability to purchase properties at a discount to market value and will look further to increase value through active asset management, aiming to generate growth in capital values and rental yields.
“We bring to the market what we believe is one of the strongest management teams in the London residential sector today. With demonstrable experience across both residential property and capital markets, the team has generated positive returns for investors in a number of previous public and private investment funds.”
