Closed Fund

Central London Office Fund

The Fund is well-placed to benefit from the changing dynamics of the central London office market, with a bias to assets offering exciting asset management opportunities in strategic locations which are expected to benefit from rental growth.

Key facts

Target sector Central London offices
Target return Total return in excess of the Central London Office component of the IPD UK Annual Universe excluding any impact of the performance of the Fund*
Fund structure Closed-ended Jersey Property Unit Trust, with ability to take on equity following an extension from Q4 2015
Fund term 2023
Currency Sterling
Fund value £474m ($665m)
No. of assets 13
Max gearing 30% of GAV
Fund Manager Clive Castle
Investment strategy
  • Invests in buildings and locations which are expected to benefit from evolving trends in the occupational market in order to deliver outperformance against the Fund’s benchmark
  • Exposure to different Central London office markets to maximise performance
  • Seeks to add value within a controlled risk framework

Responsible Property Investment (RPI) strategy

The Central London Office Fund is one of our most advanced in terms of sustainability, given the opportunities presented by our active asset management, refurbishment and development strategy. Our onsite management teams deliver annual asset sustainability action plans and foster strong relationships with tenants, several of whom have corporate responsibility commitments. The Fund often acts as a ‘test-bed’ for new initiatives, including ‘landlord energy rating’ display energy certificates and online energy data analytics. 

Further information on TH Real Estate's RPI strategy

Global Real Estate Sustainability Benchmark (GRESB)

The Fund was awarded a Global Real Estate Sustainability Benchmark (GRESB) Green Star 2015, for the sixth year running, and exceeded its peer group average in all 7 of the benchmark aspects, achieving the best overall score to date. The Fund achieved a maximum score of 100/100 for the Fund's environmental management system programme and 100/100 for the Fund's ability to manage sustainability risks and maximise opportunities. In addition, the Fund's achievement of the highest GRESB rating of 5-stars, reflects upper quantile performance compared with the entire universe of GRESB participants.

*The ultimate returns realised by the Fund will depend on numerous factors that are subject to uncertainty. Accordingly, there can be no assurance that any return objectives will actually be realised

Source: TH Real Estate, 31 March 2018

 
Clive Castle

Clive Castle

Fund Manager

Clive's biography
While short-term performance will continue to be influenced by economic cycles, we believe that London real estate is underpinned by global structural trends and well-positioned to deliver long-term value growth. We continue to focus on active management in locations which are expected to benefit from strong occupier demand and future rental growth.
Clive Castle

Clive Castle

Fund Manager

Clive has over 30 years' experience specialising in the Central London office market. Since joining the company in 1996, he has delivered consistent performance against his benchmarks and been involved in a wide range of successful investment, development and active management.

+442037278127 More about Clive
Ilan Patel

Ilna Patel

Senior Portfolio Manager

Ilna has nine years' experience within the property market, with a strong valuation and analytical background, She has been specialising in asset management, acquisitions and disposal activity in the Central London office market since joining the Business in 2011.

+442037278256 More about Ilna
Christina Swann

Christina Swann

Finance Manager

With over 10 years of experience in Finance, Christina is responsible for pricing, reporting and financial statements for the Central London Office Fund.

+442037278210 More about Christina
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