Fund Management
British Land is a major investor in and property advisor to over £3.7bn of property funds.
The Trusts focus on specific sub-sectors of UK and Continental Europe retail warehousing. British Land receives capital and income returns as an investor in the Funds, as well as management fees on the trust portfolios and performance fees dependent upon trust performance exceeding certain benchmarks.
Before reading this information, please note that it is subject to the following regulatory disclaimer .
Kingsteignton Retail Park
Hercules Income Fund (HIF)
Hercules Income Fund (“HIF”) was created in September 2004 as a Jersey-based property unit trust. It invests in smaller UK retail parks and clusters of retail park property, as a key sub-sector of the UK retail warehouse market.
HIF’s portfolio currently totals over 497,500 sq ft (as at March 2007) of retail park space, with key tenants including DSGi, B&Q and Matalan.
New Mersey Shopping Park
Hercules Unit Trust (HUT)
HUT is a closed-ended Jersey property unit trust and is the largest specialist retail park investment trust in the UK. The portfolio comprises 22 retail and shopping parks, with a value of £3.1 billion and a total floor area of 5.3 million sq ft. Over 91% of the portfolio benefits from Open A1 or Open Restricted planning consent. (As at March 2007)
Sintra Retail Park
Pillar Retail Europark Fund (PREF)
PREF is a seven-year closed-end Luxembourg-based Fonds Commun de Placement (FCP) investing in out of town retail parks in the Eurozone, which was launched in March 2004. As at 31 December 2006 PREF has 12 trading assets and six assets which are in the development pipeline under contract to purchase. The estimated value of the trading schemes and developments acquired or contracted totals €1.044 billion on 464,250 sq m of space.
British Land - Holdings in trusts and unit values - As at 27 September 2007
|
|
Portfolio valuation £million |
Net unit value Sep |
Net unit value |
British Land Share Sep |
British Land Share Sep |
British Land Share |
|---|---|---|---|---|---|---|
| Hercules Unit Trust | 2,888.5 | 1,594 | 1,650 | 468,310 | 36.27 | 36.27 |
| City of London Office Unit Trust | 0.6 | 607 | 604 | 1,120 | 35.94 | 35.94 |
| Austral House Unit Trust | 0.0 | 5 | 5 | 79,077 | 35.94 | 35.94 |
| Basinghall Street Unit Trust | 0.0 | 151 | 121 | 4,494 | 35.94 | 35.94 |
| Hercules Income Fund* | 158.1 | 1,226 | 1,326* | 29,014 | 26.12 | 26.12 |
^as at June 2007 - Price set quarterly
View previous months figures >
Contact Details
Louise Maskell
Trusts contact
T. +44 (0) 7467 3344
Louise.Maskell@britishland.com
Dido Laurimore
Media contact
Financial Dynamics
T. +44 (0) 20 7831 3113
Dido.Laurimore@fd.com
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