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.