Closed Fund

UK Outlet Mall Partnership

UK sector specialist partnership in a niche sub-sector: Outlet Malls.

Key facts

Target sector UK outlet malls
Target return Target annualised IRR of 10% per annum on Invested Capital over the life of the Partnership.
Fund structure Close-ended Scottish Limited Partnership
Fund term 2020
Currency Sterling
Fund value c.£609m (c.$792m)
No. of assets 2
Max gearing 65%
Fund Manager Andrew Rich
Investment strategy

Expansion of the current outlet mall portfolio by extension of existing outlet malls and further acquisitions.

Assets chosen for their location (catchment and accessibility), dominance and tenant mix.

Active management of the portfolio in order to maximise returns.

Position existing assets to reflect aspirational consumers.

Outlet mall asset management by McArthurGlen, the leading European outlet mall specialist.

Responsible Property Investment (RPI) strategy

Our sustainability strategy for the UK Outlet Mall Partnership is very much a partnership with McArthurGlen, who wherever viable seek to minimise the environmental impacts of our assets and retail activities. We have a comprehensive programme in place covering energy, water, waste, transport, biodiversity & ecology, supply chain, community and retailer engagement. The partnership was our first investment to achieve ISO14001 accreditation.

Further information on TH Real Estate's RPI strategy

Global Real Estate Sustainability Benchmark (GRESB)

The Fund was awarded a GRESB Green Star for the fifth year running, and exceeded its peer group average in 6 out of the 7 benchmark aspects, achieving the best overall score to date. The Fund achieved a score of 98/100 for the Fund’s environmental management system and a score of 100/100 for the Fund’s ability to manage sustainability risks and maximise opportunities. In addition, the Fund achievement the highest GRESB rating of five stars, reflecting upper-quartile performance compared with the entire universe of GRESB participants.

Note: Target returns are not guaranteed and past performance is not a guide to future performance.
Source: TH Real Estate, December 2016

 
Andrew Rich

Andrew Rich

Fund Manager

Andrew's biography
The two assets in the UK Outlet Mall Partnership had another strong quarter, with retail sales in the UK showing good resilience in light of the uncertainty created by the referendum vote and subsequent change of political leadership.
Myles White

Myles White

Director of Retail

Myles is a Director of Retail and has been involved in retail property for over 20 years. Myles joined the company in 1997 and was initially involved in repositioning the retail portfolio from secondary to prime assets. He was part of the team which developed Buchanan Galleries in Glasgow and Bullring in Birmingham.

+44 (0) 20 3727 8223 More about Myles
Andrew Rich

Andrew Rich

Fund Manager

With 15 years’ real estate experience, Andrew oversees all investment, development and asset management activities for the Fund.

+442037278194 More about Andrew
Katherine Friend

Katherine Friend

Head of Asset Management

With over 13 years' real estate experience, Katherine has been involved with several acquisitions and disposals for the business and has overseen key anchor lettings, developments and refurbishments across Fund portfolios.

+442037278146 More about Katherine
Faizal Bocus

Faizal Bocus

Finance Manager

Faizal joined the business in 2011, working within the outlet mall team. He carries out all the accounting functions for the Fund.

+44 (0) 203 727 8116 More about Faizal
Mike Blackmore

Mike Blackmore

Portfolio Manager

With over seven years’ real estate experience, Mike is primarily responsible for forecasting performance for the Outlet Mall Fund, which includes being involved with investment, leasing, asset management and development plans. He also coordinates quarterly fund valuations.

+442037278422 More about Mike
Wayne Saville

Wayne Saville

Senior Client Services Manager

Wayne Saville is Senior Client Services Manager within Investor Relations at TH Real Estate. He is responsible for client services across a range of segregated clients, UK and European funds and fund of funds.

+44 (0) 20 3727 8201 More about Wayne