The MRP Fund No. 1 LP was launched to invest in UK income-generating commercial property with asset management potential. Fundraising was led by Lanner Capital Limited,a London-based private client wealth management firm, and MRP was appointed property manager. The Fund is now closed for subscriptions.
The Fund raised around £7.7m of equity from 45 private investors and a debt facility from Santander. Some asset management successes in the Fund include:
- The generation of a 300%+ uplift in site value of a former petrol filling station by obtaining consent for retail use (see Weedon Road).
- The refurbishment of a 1960s office building forecast to generate an income in excess of £500k per annum for a total capital cost of c. £3m (see St George's House).
- A 16% uplift in value at purchase of a vacant retail unit in a prime retail centre with a further 15% to 20% anticipated at the first rent review.
- The generation of a 240% uplift in site value of an 1.2 acre industrial site opposite a Sainsbury's superstore by obtaining consent for a discount foodstore (see Gambrel Road).
- Obtaining consent under permitted development rights for the conversion of a vacant office building to 94 studio apartments for students. Forecast development profit of c. 50% on cost (see Compton House).
- An 18% uplift in value at purchase from a 'behind the scenes' lease re-gear of a retail unit purchased from NAMA. Further asset management potential exists from forfeiting a lease in default and re-letting.
Enquiries about MRP property funds and investment opportunities
Please contact our regulated promoter Jonathan Lamb, Managing Director, Lanner Capital Limited on 0207 220 3048 or email@example.com.