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London&#39s West End calls for WELPUT

Benchmark Group and Schroder Property Investment Management have joined forces to offer the West End of London Property Unit Trust (WELPUT).

Based in Jersey, the fund is a unit trust aimed at investors who consider property as a safe form of investment.

WELPUT will take over the eight properties formerly owned by Benchmark. These include properties in Mayfair, Soho, Covent Garden and Knightsbridge, all of which are either freehold or leasehold, and which have a present combined market value of just under £300m. It is hoped to increase the property portfolio over the next three years to a value of £1bn. To achieve this, specialist property company Benchmark Group will be providing property advice on which properties to buy in which areas.

Many investors who have been put off the stockmarket by almost a year of instability, have been turning to property investment instead. The fact that WELPUT will invest in properties in the West End of London, an area where demand for property has traditionally been high, should appeal to many. However this is a highly specialist fund and will require careful management in selecting and buying new properties in these areas to fulfill the hopes for growth.


MGM to promote alliance of agents

MGM Assurance is spearheading a new alliance between its tied agents with the aim of boosting premium income and cross-selling opportunities by pooling resources. The Master Associate Alliance scheme is also bidding to improve customer relations. The scheme will allow tied agents to remain separate businesses. One business is nominated the master agency and the […]

Scottish Life sales up 22 per cent

Scottish Life new business sales were up 22 per cent EPI for the first half of 2001 to £59.1m from £48.4m. Total pension sales were up 30 per cent £56.7m from £43.6m EPI and employer-based new business grew by 40 per cent to £34.1m from £24.2m. Group pensions increased 17 per cent to £16.8m from […]

Clerical Medical not taking the multi-tie route

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Govt to pay out up to £110 a week for LTC

Individuals getting nursing care in nursing homes stand to gain up to£110 a week under the Government&#39s long-term care funding proposalsrel-eased this week. The funding, due to be implemented in England on October 1, still leavesindividuals facing average costs of £283 a week, according to latestestimates of nursing care costs from Laing & Buisson, which […]


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