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LCP launches London distressed property fund

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LCP has launched a closed-ended fund which aims to exploit discounted opportunities in areas such as Knightsbridge, Mayfair, Chelsea and Kensington.

LCP has launched a closed-ended fund which aims to exploit discounted opportunities in areas such as Knightsbridge, Mayfair, Chelsea and Kensington.

Seeking to capture the bottom of the market, the London Central Residential Recovery Fund will stock pick a portfolio of individual properties with potential to add value. These will be refurbished, furnished and let to blue-chip corporate tenants, providing quality rental income and capital growth.

The fund can borrow at just one per cent over base. It has a target return of 15 per cent average annual growth, doubling an investor’s equity stake in five years.

The target fund value is GBP23m. It is a closed-ended fund running for eight years or less with

The minimum investment is GBP50,000.

The fund will focus on smaller units (one and two bedroom properties) to target the robust mainstream rental sector.

LCP says that since 1969 prices in London have doubled every seven years on average and shown a greater return than commercial property. Values have increased more than 60 times, combined with rental income, funds invested could have seen a 90 fold return.

Established in 1990, LCP provides an accountable, one stop service for high net worth investors. LCP has more than GBP300m of assets under management and has outperformed the market by almost 50 per cent since 2000

In 2007, LCP successfully launched the first ever closed ended fund investing in prime London Central residential and is an experienced contra-cyclical fund managers.

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