Closed Fund

UK Retail Warehouse Fund

Offers investors exposure to a range of retail warehouse park investments, in what is a competitive part of the UK real estate market.

Key facts

Target sector UK retail warehouse parks
Target return To deliver Fund total return in excess of the retail warehouse component of the IPD UK annual universe*
Fund structure Closed-ended Jersey Property Unit Trust
Fund term Extended to December 2021, plus two-year wind-down and further options to renew
Currency Sterling
Fund value £1.1bn (c.$1.4bn)
No. of assets 13
Max gearing Limit of 50% GAV
Fund Manager Jamie Johnson
Investment strategy
  • Establish and maintain a geographically diverse portfolio of prime retail warehouse assets
  • Gain exposure to properties where above average rental growth may be anticipated whilst maintaining a market level of portfolio income
  • Assets secured by leases of acceptable length, with the majority let to strong covenants
  • Actively manage the portfolio to maximise returns in the face of changing retail requirements
  • Proprietary research and forecasting techniques are applied to each property to eliminate inappropriate risks and to enhance stock selection

Responsible Property Investment (RPI) strategy

The Fund's RPI focus is on those assets where we have most influence over sustainability performance. These assets have dedicated actions plans, including environmental and community projects. We have won several Green Apple awards and aim to continually widen the scope of our programme, for instance with the implementation of an Energy Reduction Programme. 

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 sixth consecutive year, and was ranked first in its peer group of UK retail property funds. The Fund exceeded its peer group average in all of the seven benchmark aspects, achieving the best overall score to date. In addition, the Fund achieved the highest GRESB rating of five stars, demonstrating upper quartile performance and reflecting its rank as 18th out of the entire universe of 733 GRESB participants. 

*Target returns cannot be guaranteed. 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

 
Jamie Johnson

Jamie Johnson

Fund Manager

Jamie's biography
The Fund has a strong portfolio of dominant prime retail park assets providing approximately 2.8 million sq ft (c.260,000 sq m) of floorspace and let to c.110 retailers on over 300 tenancies.
Jamie Johnson

Jamie Johnson

Fund Manager

With over 15 years of real estate experience, Jamie is Fund Manager for our £1.2bn UK Retail Warehouse Fund. He oversees all investment, development and asset management activities for the Fund.

+442037278158 More about Jamie
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
Mark Cruddas

Mark Cruddas

Senior Portfolio/ Investment Manager

Mark is a Senior Portfolio and Investment Manager. He joined the Business in 2012 and has 11 years' property experience, primarily in the retail sector and in his career has worked across a range of funds including retail, life and pension funds as well as distribution bonds with a specialism in retail assets.

+44 (0) 20 3727 8132 More about Mark
Ceri Griffiths

Ceri Griffiths

Manager, Investment Analytics

Ceri Griffiths is a Manager in Investment Analysis. Since joining the Business in 2005, he has provided a high standard of analysis that supports and influences investment and strategic activities for the fund.

+442037278149 More about Ceri
Adam Stone

Adam Stone

Senior Portfolio Manager

Adam is responsible for the management of approximately $750m of retail warehouse assets across various funds. He has been involved with several acquisitions and disposals, and has overseen key anchor lettings and developments for the UK Retail Warehouse Fund.

+442037278209 More about Adam
Andrew Rippingdale

Andrew Rippingale

Head of Finance

Andrew is Head of Finance for a number of property funds including the UK Shopping Centre Fund and UK Retail Warehouse Fund. He has more than 14 years commercial property experience. Andrew is responsible for the financial management and control of a number of real estate funds as well as being responsible for the accounting for several joint venture entities.

+442037278197 More about Andrew
Camilla Bergesen

Camilla Bergesen

Client Services Manager

Camilla is responsible for investor communications, client investor briefings and reporting across a number of funds and mandates.

+442037278431 More about Camilla