The fund manager behind the Urban Splash Residential Fund says the business is set to achieve an “institutional-scale” portfolio despite economic uncertainty.
Over the financial year ending 31 March, Urban Splash UK Residential posted an annual investor return of 7.4% and a like-for-like capital uplift across the portfolio of 2.4%, with profit down slightly on the previous year at £1.8m. Average occupancy levels were 97%, like-for-like rental growth stood at 4.1% and rent collection came in at 99%.
The fund invested £20.8m in its portfolio over the period, including in 20 town houses in Cambridgeshire as well as Derwent House, a block of 40 loft-style apartments in a converted foundry in Birmingham’s Jewellery Quarter (pictured).
