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A property Fund designed for clients of Jupiter Asset Management, managed on an advisory basis by Mayfair Capital.

The Mayfair Capital Commercial Property Trust (MCCPT) was established in March 2014 as a Jersey Property Unit Trust (JPUT) to provide Unit holders from Jupiter Asset Management with UK Commercial Property exposure.

The objective of the Fund is to provide Unit holders with a total return from investment in a diversified portfolio of UK commercial property assets, targeting a net distribution yield in the region of 5-5.50% per annum, together with the prospects for both income and capital growth.

Key Fund data (as at 30 Jun 2019)

NAVc.£197mNo. of assets14        

Further information

Please contact the Fund Director, Ned Pumphrey or Laura Sweet Asset Manager

Portfolio assets

Barnsley, Elmhirst Park, Galpharm Property: Tenants: Purchase price:    Latitude 135, Normanton, Leeds Property: Freehold distribution warehouse of 135,172 sq ft situated in Yorkshire’s premier distribution location, close to J31 of the M62 motorway.Tenants: Single let on a 10 year lease to WH Malcolm Ltd, subject to five yearly open market rent reviews.Purchase price: Acquired at a price of £9.29m reflecting a net initial yield of 6.3%.  Red Lion Street, London Property: Situated north-east of Holborn underground station in the heart of London’s midtown office market, this office building provides 31,730 sq ft on basement, ground and five upper floors.Tenant: Let to two tenants (Abel & Imray and Kilburn & Strode LLP) on nine leases.Purchase price: £18.93 million reflecting a net initial yield of 5.1% (£597 per sq ft). An anticipated reversionary yield of 6.5% on lease renewal or re-letting.

Management team

Edward (‘Ned’) Pumphrey

BSc (Hons) MRICS

Director and Fund Manager

Edward ('Ned') joined Mayfair Capital as the Head of Transactions in May 2010, and became an Executive Director in November 2013. In 2014 Ned became a Fund Director with responsibility for Mayfair Capital Commercial Property Trust, set up for the Jupiter Asset Management Merlin range of funds and is a member of the firm's Investment Risk Committee. 

Ned has over 25 years of commercial property experience.  He spent 11 years with investment agency Weatherall Green & Smith (now part of BNP Paribas) and Nelson Bakewell (now part of Capita plc) advising major institutional property investors such as PRUPIM, Legal & General, AMP (now Henderson Global Investors), Argyll Property Asset Managers and ICI Pension Fund.

Prior to joining Mayfair Capital, Ned ran the London office of the Deramore Property Group — a substantial and highly respected Belfast-based property company.

Ned is approved by the FCA to perform the CF30 functions for Mayfair Capital.

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Laura Sweet

MA (Oxon) MSc MRICS

Asset Manager

Laura joined Mayfair Capital as an Asset Manager in June 2015, before being promoted in January 2018 to Assistant Fund Manager. Laura is primarily responsible for assisting with the investment activities and asset management initiatives of Mayfair Capital Property Unit Trust and Mayfair Capital Commercial Property Trust.

Prior to this Laura spent nearly four years at Lambert Smith Hampton, the final two years of which was within the Capital Markets team, chiefly focussing on South East offices . She was elected a member of the RICS in 2013. Laura undertook the Real Estate Management MSc at Oxford Brookes and an undergraduate degree in Physiology at Oxford University.

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