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Published 14 December 2017
Much has been written about the negative impact of Brexit on the UK property investment market. GDP growth in the UK has slowed in 2017 after an unexpected "Brexit bounce" last year. Journalists cite rising inflation and decreased consumer spending coupled with the business community's nervousness about what the post-Brexit world will look like as reasons to fear falling rents and a slowdown in the investment market.
However, actions speak louder than words.
On 1 October 2017 Royal London Asset Management announced the largest ever UK real estate fund at launch, seeded with assets worth over £2.7billion.
Piers Hillier, chief investment officer at RLAM said: "This fund launch is a vote of confidence in the UK and its real estate market. There are few places in the world with as many prime real estate assets as London, and we believe its property market presents an attractive opportunity for domestic and foreign institutional investors. The long term outlook for UK property remains attractive and the prime nature of this offering provides an excellent opportunity for long term investors to gain exposure to a high quality and well diversified property portfolio."
Drew Watkins, Lead Fund Manager for the new fund, added: "This launch gives institutional investors a unique opportunity to access a significant number of quality property assets which are not often traded, and especially not within a single investment fund."
The Royal London UK Real Estate Fund's initial assets span all major sectors (offices, retail and industrial) with a predominance in London. The fund is designed to give domestic and overseas investors access to the UK commercial real estate market. Investors are expected to make a long term commitment in order to allow Royal London to take forward development projects and the minimum investment is £50million.
DAC Beachcroft LLP represents Royal London on much of its retail portfolio, including prime assets such as its holdings on Long Acre in Covent Garden, on Oxford Street and on New Bond Street. These and other retail assets were contributed to the Fund on day one.
We are excited to be working with Royal London at this time of growth and expansion. And we are pleased to see this vote of confidence in the UK and London real estate markets.
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