An international institutional investor has committed £162m to central London office trust WELPUT, taking advantage of the recent redemption window.
The Schroder-managed trust received redemption requests last year equivalent to 16.5% of its net asset value.
There was a strong amount of interest from long-term investors, initial demand for the units came from European institutions, with some interest from Asia.
WELPUT recently underwent modernisation, allowing an expansion of its investible area across London to take advantage of occupiers spreading across the wider city.
Grafton Advisors was WELPUT’s property adviser. CBRE Capital Advisors acted as the placement agent.
