James Agar, Investment Director at Braemar, added: "Ground rents are rare within real estate in their ability to offer high yields relative to the level of risk. The current economic climate makes the defensive, secure and predictable characteristics of long dated ground rents very attractive to investors, particularly when looked at in the context of negative gross redemption yields on the sovereign debt of what are considered to be lower risk nations." "We are confident that our strong track record in acquisition and asset management in the sector will produce both attractive yields and long term capital growth."
13 Aug '12
Malcolm Naish, Non-executive Chairman of GRIF, commented: "GRIF is a publicly traded investment company that offers onshore exposure to the ground rents sector, which we believe is one of the most predictable sources of real estate income which is both secure and partly inflation hedged." "The Company has a well regarded property advisory team in the shape of Braemar Estates and a strong pipeline of opportunities, and we are extremely excited about its potential for income generation and capital growth."
13 Aug '12
Company Highlights · GRIF is a newly formed, closed-ended company, incorporated to acquire a portfolio of freeholds and head leases, offering: - the potential for income generation from ground rents that is both secure and hedged against inflation - the potential for capital growth from active asset management · Long dated UK ground rents have historically had little correlation to traditional property asset classes and have seen their value remain consistent regardless of the underlying state of the economy · Experienced Board appointed combining real estate and fund management expertise: - Malcolm Naish, former director of Real Estate at Scottish Widows Investment Partnership and has over 40 years' experience of working in the real estate industry; - Simon Wombwell, Chief Executive Officer of Brooks Macdonald Funds and a director of Brooks Macdonald Group plc; - Paul Craig, a Director of Multi-Manager at Henderson Global Investors. · GRIF's portfolio will be managed by Braemar Estates which has extensive experience, expertise and a long-term track record in ground rents and asset management; · It is the intention of the Company to distribute at least 90 per cent. of its income profits by way of quarterly dividends.
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