Mayfair Capital Property Unit Trust has bought £33.1m of property, taking the fund’s net asset value to £340m.
The company, advised by Mayfair Capital and managed by Schroders, has acquired the Trio portfolio of three freehold ‘mid-box’ warehouses in the south-east, from clients of Eskmuir Properties. It has also bought four restaurant investments on Cygnet Park in Peterborough and a single let office building on Trinity Park, Solihull.
The unit trust’s investment objective is to provide total returns from investment in a diversified portfolio of UK commercial property and target a net distribution yield in the region of 5% a year.
James Feilden, fund manager at Mayfair Capital, said: “These investments provide the combination of strong real estate fundamentals along with sustainable income streams with good reversionary potential and prospects for medium-term asset management.”
MCPUT has outperformed its benchmark, over one, three and five years to 30 September 2017.
Savills advised MCPUT on the Trio portfolio, Edgerley Simpson Howe advised MCPUT on the Peterborough acquisition; BNP Paribas Real Estate advised MCPUT in Solihull.
