A Fund designed for pension clients of Schroder’s Property, managed on an advisory basis by Mayfair Capital.
The Trust was established on 25th June 2010 and is managed by Schroder Real Estate Managers (Jersey) Limited with Mayfair Capital appointed as Property Advisor. It is as an unregulated eligible investor Fund for investment by exempt approved pension funds, investment trusts, charities and sophisticated investors only. The fund’s investment objective is to provide long term above average performance from investment in a diversified portfolio of UK commercial property with a focus on stock selection, income and enhancing the cash flow through asset management.
The fund will target out performance of its Benchmark, the weighted average of the All Balanced funds within the AREF/ IPD UK Pooled Property Fund Index.
Key Fund data (as at 31 Dec 2018)
| Fund Size | £377m |
| No. of assets | 55 |
| Distribution yield | 4.3% |
Fund performance
| 1 year | 8.1% |
| 3 year | 7.9% |
| 5 years | 10.6% |
Source AREF/IPD UK All Balanced Property Fund Index (27 Funds)
Further information
Please contact the Fund Director, Robert Palmer or James Feilden Fund Manager
Portfolio assets
Westway House, Northern Way, Clevedon
Property: A forward funding of a prominent freehold retail warehouse development comprising 22,200 sq ft.
Tenant: Let to Aldi Stores and Pets at Home on FRI leases.
Strategy: Asset acquired for relatively long secure ‘core’ income with a net initial yield of 6.1% and with the benefit of fixed rental uplifts in the Aldi lease.
Purchase price: £5.165m.
The Hinshelwood Building, Oxford Science Park, Oxford
Property: A modern two storey Grade A headquarters building totalling 31,071 sq ft and benefitting from a good car parking ratio of 1:207 sq ft.
Tenant: The entire property is leased to TripAdvisor Ltd on an FRI lease expiring in 2020.
Strategy: Asset acquired for its day one income yield with good rental growth prosects.
Purchase Price: £9.6m
Units 1&2 Oxleasow Road, Redditch
Property: Two detached but linked industrial units constructed in 1991 and comprising 107,862 sq ft on a site of 4.5 acres (53% site cover).
Tenant: The entire property is leased to Huegli UK Limited on two leases expiring in 2026.
Strategy: Asset acquired for its day one income yield off a low passing rent with good growth prospects and minimum fixed uplifts.
Purchase Price: £5.872m
Mayfair Capital management team
Robert Palmer
- +44 20 7291 6663
- rpalmer [at] mayfaircapital.co.uk
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Robert joined Mayfair Capital in June 2010 as an Executive Director and the Advisor to Mayfair Capital Property Unit Trust. Robert was appointed Chief Investment Officer at Mayfair Capital in 2014.
Robert has over 33 years’ experience in commercial property. After graduating from Cambridge University, he qualified whilst at Debenham Tewson & Chinnocks, and was elected a member of the RICS in 1989. For 15 years he looked Robert at PRICOA/Rockspring where he was Fund Director of the Hanover Property Unit Trust and involved in launching a number of sector specialist funds. He was also Chairman of the Investment Committee. Robert left the Rockspring Partnership in March 2009 and remained a consultant until December 2009.
At Mayfair Capital Robert is Fund Director of the Mayfair Capital Property Unit Trust which now has a NAV in excess of £370m and since his appointment as CIO in 2014 has been responsible for the investment activity across all the Mayfair funds.
Robert is a member of the Investment Committee of Christ’s Hospital, and a Trustee of the Portsmouth Naval Base Property Trust. He is approved by the FCA to perform the CF1 and CF30 functions for Mayfair Capital.
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James Feilden
- +44 20 7495 1929
- jfeilden [at] mayfaircapital.co.uk
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James joined Mayfair Capital in February 2011 and is Fund Manager responsible for the Mayfair Capital Property Unit Trust. His role includes transactions, fund analysis, reporting and asset management of the assembled portfolio.
James has 11 years’ experience in commercial property having been elected as a member of the RICS in 2008. Before joining Mayfair Capital James spent four and half years with GVA within their London Markets team. Prior to this James graduated from Newcastle University before spending time in the City of London with a private client equity fund manager.
James holds a BA (Hons) in Economics from the University of Newcastle Upon Tyne and an MA in Property Valuation & Law from Cass Business School. James is also approved by the FCA to perform the CF30 function for Mayfair Capital and holds the CFA Level 4 Certificate in Investment Management.
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Laura Sweet
- +44 20 7495 1929
- lsweet [at] mayfaircapital.co.uk
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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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