Commercial Property Post EU Referendum: June 2016

Commercial Property Post EU Referendum: June 2016

In 2012 we made the decision to start buying commercial property assets let on
long leases to good tenants outside of London.

At exactly the same time we started to sell our London office buildings that we
had purchased between 2010 and 2012 and which typically had shorter leases in

The reason for this change of strategy was due to London prices reaching record
levels enabling us to capture profits for our investors, and long dated income
producing assets in comparison beginning to look very inexpensive. A position
not dissimilar to today.

By the end of 2015 we had sold our last London office and our current direct
investment portfolio now comprises entirely of properties let on long leases with
an average unexpired lease term of over 16 years and a 100% occupancy rate.

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