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Smith & Williamson launches Candy & Candy Growth Fund

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Smith & Williamson Investment Management is launching a prime Central London residential property fund with CPC, Christian Candy’s property development company, acting as the investment manager and Candy & Candy providing interior design and property management services.

The Candy & Candy Growth Fund will be structured as a seven-year closed-ended investment vehicle, registered in Guernsey. It will also be listed on the main market of the London Stock Exchange.

The fund aims to raise around GBP100m through a mixture of equity and debt finance. 

CPC will focus on acquiring properties in the W1, W9, SW1, SW3, SW7, NW1 and NW8 postcodes. 

Christian Candy (pictured right) says: “Few commentators would question the viability of Central London residential property as an asset class. We now have the opportunity to acquire stock at realistic prices, while rental demand remains high and capital values are beginning to move in the right direction.”

The investment manager plans to take an active asset management role, acquiring properties immediately after the fund’s close with a view to managing the portfolio through the life of the fund and then undertaking extensive renovation to properties prior to disposal towards the end of its term.

Martin Sherwood, head of tax efficient solutions at Smith & Williamson, says: “Investors in this fund will benefit from both the investment expertise of some of the property industry’s leading entrepreneurs of recent years and the ability to enhance values through active management and leading-edge design.”

The fund will also be available for investment by pension funds including Sipps and Sass.

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