Hunter Real Estate Investment Managers has confirmed today the launch of UK Retail Trust, a closed-end fund which will invest in underutilised assets located in desirable high street-led locations across the UK.
With Hunter’s proven track record of investing in retail opportunities with significant asset management potential and demand from its client base, the fund has successfully attained £64 million of investment from key investor, Aviva Multi Manager.
The investment will be supplemented with a conservative level of debt, taking projected gross assets to over £100 million.
Hunter is anticipating about a 10 per cent return for the trust, which reflects the fund’s unique sector specialism. The funds core focus is acquiring assets in thriving town centres with strong retail and leisure offerings. Currently, several historic towns centres are under negotiation for their assets, with Hunter expecting to announce the first three acquisitions over the next few months.
Mark Hunter, Managing Director of Hunter, said regarding the launch: “Drawing on our investment expertise, particularly within the retail sector, in addition to our strong track record of delivering exceptional returns for our investors, the launch of the Hunter UK Retail Trust is a natural extension of the Hunter offer.
“The high street continues to offer opportunities for consistent returns in certain pockets around the UK and our selective ‘deal by deal’ approach will ensure we source the best assets for the fund. We look forward to announcing our first deals over the forthcoming months.”
The Hunter UK Retail Trust builds on the strong existing relationship with Aviva Multi Manager, which invested in the Retail Plus Property Trust previously.
Senior Fund Manager at Aviva Investors REMM, added: “This is a very exciting opportunity to invest alongside our partners, Hunter Real Estate Investment Managers, at what we believe is an opportune point in the investment cycle for our clients.”
John Gellatly, the Head of Aviva Investors REMM Europe, said: “It is a pleasure to continue working with the individuals at Hunter Real Estate Investment Managers, who we have known for several years and who we rate highly as a management team in this sector.”
Aviva Investors, who invests worldwide on behalf of leading corporations, public pension funds and other institutional clients, has built one of the longest track records in the industry.
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