Charities Property Fund issues update

Finance | Tania Mason | 28 Feb 2011

The Charities Property Fund has doubled in size over the last 18 months and now stands at £389m, according to an update released by the fund manager this week.

Cordea Savills said the Fund transacted more than £100m in 2010 and delivered an average of 7 per cent income return over the three years to the end of December 2010. This meant it outperformed the All Balanced Funds total return index by an average of 3.3 per cent over the same period.

During 2010 the Fund acquired nine properties and sold two, in eight separate transactions totalling more than £100m. The average lease length on these new assets is 6.8 per cent and the average lease length 12.6 years.

Fifty-five of the properties under management by the Fund are let to long-term tenants and the vacancy rate is 4.2 per cent of rental value. Some 86 per cent of the properties are secured on covenants rated as low/negligible risk.

A total of 1,193 charities are invested in the Fund, which Cordea Savills expects to reach the £400m mark during March.

Directory: Cordea Savills LLP

Comments

[Cancel] | Reply to:

Name *

Email *

Organisation

Job Title

Comments *

Verification *

* Please read our Community Standards

Close »

Community Standards

The civilsociety.co.uk community and comments board is intended as a platform for informed and civilised debate.

We hope to encourage a broad range of views, however, there are standards that we expect commentators to uphold. We reserve the right to delete or amend any comments that do not adhere to these standards.

We welcome:

Robust but respectful debate
Strongly held opinions
Intelligent relevant discussion
The sharing of relevant experiences
New participants

We will not publish:

Rude, threatening, offensive, obscene or abusive language, or links to such material
Links to commercial organisations or spam postings. The comments board is not an advertising platform
The posting of contact details for yourself or others
Comments intended for malicious purpose or mindless abuse
Comments purporting to be from another person or organisation under false pretences
Gratuitous criticism, commentary or self-promotion
Any material which breaches copyright or privacy laws, or could be considered libellous
The use of the comments board for the pursuit or extension of personal disputes

Be aware:

Views expressed on the comments board are left at users’ discretion and are in no way views held or supported by Civil Society Media
Comments left by others may not be accurate, do not rely on them as fact
You may be misunderstood - sarcasm and humour can easily be taken out of context, try to be clear

Please:

Enjoy the opportunity to express your opinion and respect the right of others to express theirs
Confine your remarks to issues rather than personalities

Together we can keep our community a polite, respectful and intelligent platform for discussion.