Track Record

At First Property we believe in investing in high yielding commercial investment property. When property values fall, yields increase and we consider buying. When property values rise, yields reduce and we consider selling. We did not foresee the credit crunch but adhering to the above philosophy kept our clients’ and our capital safe.

We credit our recognition of the importance of high sustainable income returns as the key reason for our market leading track record.

We also recognise the need to continually monitor macro and micro changes in our markets and to adapt our asset management approach accordingly.

Both these points are exemplified by:

2013 Our return to development in the UK following the relaxation of planning laws, effective 30 May 2013, and a boosting of residential demand as a result of “Help to Buy”;
2009 Our return to investment in the UK after commercial property prices had dropped by some 50%;
Our decision to reverse our policy of lease renewal, in order to protect rental income before the credit crunch hit Poland. Some 20% of our tenants (by income) were approached to extend their leases early - many were successfully extended and we simultaenously increased rents by +3% across the portfolio. When the credit crunch did hit Poland, the portfolio was in a strong position;
2005 Our decision to choose Poland as our principal geographic area of focus. Poland's commercial property market has been one of the best performers in Europe;
2005 Our decision to largely exit the UK commercial property market following the increase in UK property values and the resultant low income yields available. This change very largely protected the Group and its clients from the subsequent collapse in UK commercial property values (some 50% reduction in value took place between 2007 and 2009).

FPAM funds rank No.1 versus MSCI’s Central & Eastern European (CEE) Benchmark for the eleven years from the commencement of its operations in Poland in 2005, and for the annualised periods from 2005 to the end of each of the years from 31 December 2008. In addition, FPAM’s UK Pension Property Portfolio (UK PPP) was awarded best “Small Specialist Fund” by MSCI at its UK Property Investment Awards 2017. FPAM was also one of ten fund managers, out of a pool of 95, to be awarded a Data Quality Award by MSCI.

© 2017 First Property Group plc
32 St James’s Street, London, SW1A 1HD.
Registered in England No. 2967020

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