WELPUT appoints CBRE as global capital raising agent
WELPUT, a specialist fund investing in Central London offices, managed by Schroder Real Estate and advised by Grafton Advisors, announces that it has appointed CBRE Capital Advisors as its global capital raising agent.
WELPUT* a specialist fund investing in Central London offices, managed by Schroder Real Estate and advised by Grafton Advisors, announces that it has appointed CBRE Capital Advisors as its global capital raising agent.
The appointment follows the recent modernisation of WELPUT and conversion to a more open ended vehicle in October 2014.
The modernisation of WELPUT involved the following key elements:
- Expansion of its investable area outside of the West End of London, enabling WELPUT to invest more widely in central London offices in order to capitalise on the changing patterns and preferences of the occupational markets.
- A new more open-ended structure aims to improve liquidity for existing investors through regular subscriptions and redemption and also makes WELPUT available to new institutional investors who were previously unable to gain access to a closed ended structure.
WELPUT is a £1.2 billion fund, with an existing portfolio of 11 assets across central London. It has won a number of awards over the last few years as the top performing London office fundi. The fund has delivered a total return of 25.6% per annum over the past five yearsii.
i Awards include IPD in 2012 and AREF in 2014
ii AREF/IPD Pooled Property Funds Index – September 2014
For further information, please contact:
Estelle Bibby, Schroders
+44 (0)20 7658 3431 / firstname.lastname@example.org
Dido Laurimore/Ellie Sweeney, FTI Consulting on behalf of WELPUT
+44 (0)20 3727 1000
Mark Evans, CBRE Capital Advisors
+44 (0)20 7182 2870
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West End of London Property Unit Trust* (“WELPUT”) was established in 2001 as a closed ended property unit trust under the laws of Jersey. WELPUT was converted to a more open ended structure in 2014 with the approval of its Holders. The aim of WELPUT is to provide investors with an exposure to the central London office market. The objective is to outperform the market as measured by Investment Property Databank (IPD).
The primary investment focus is office properties in the West End of London. Due to the nature of properties within the West End there will be elements of other uses such as retail and residential. The intention is to focus the portfolio on large multi-let buildings.
WELPUT is reserved for experienced investors who must be aware of the risks attaching to the investment.
The manager of WELPUT is Schroder Property Managers (Jersey) Limited, one of the largest managers of Jersey Property Unit Trusts, covering various sectors of the UK market.
Grafton Advisors (2006) LLP is the property adviser to WELPUT and is a partnership formed by the former senior management of Benchmark Group PLC who founded WELPUT in 2001 and now a member of the Quintain Group plc.
Schroder Real Estate
Schroders has managed real estate funds since 1971 and currently has £11.5 (€14.8 /US$18.7) billion of gross real estate assets under management as at 30 September 2014.
Most of the property funds referred to are unauthorised collective investment schemes as defined in the Financial Services and Markets Act 2000. Promotion of these funds is restricted and access to full information about these funds is only available to those exempt from the restriction. For further information about Schroders’ real estate business visit www.schroderproperty.com
Schroders is a global asset management company with £276.2 billion (EUR354.4 billion/$447.7 billion) under management as at 30 September 2014. Our clients are major financial institutions including pension funds, banks and insurance companies, local and public authorities, governments, charities, high net worth individuals and retail investors.
With one of the largest networks of offices of any dedicated asset management company, we operate from 37 offices in 27 countries across Europe, the Americas, Asia and the Middle East. Schroders has developed under stable ownership for over 200 years and long-term thinking governs our approach to investing, building client relationships and growing our business. Further information about Schroders can be found at www.schroders.com.
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The information in this document is provided for information only. Nothing in this document amounts to, and nothing in this document should be construed as, investment advice, an offer for sale or a solicitation or an offer to buy securities and should not be used as the basis for any investment decision. Any decision to invest should be based on the information contained in the prospectus which includes information on the risks associated with an investment in this product. Past performance is not a reliable indicator of future results and the price of securities may go up or down.
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