UK - Close Property Investment is launching a new commercial property development fund.
The 5th Special Opportunities Fund hopes to raise £6m in equity, to which a similar level of debt will be added, to invest in a portfolio of developments with a completed value of between £1m and £5m. It will be available to SIPP and SASS holders.
Projects will run from as little as six months to three years and cover the office, retail, leisure and industrial sectors. Funds will be rolled over from development to development for two years before being returned to investors as projects are sold. Investors can expect annual returns of 15%.
Managing director Anthony Wyld said: “High economic growth and low inflation are ideal conditions for investing in the commercial property sector, while the economic slowdown of the last three years has significantly reduced the level of commercial development in the office sector in particular.
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