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Fprop Sterling Income Fund (FSIF)

 

Documents (please login for access):

 

1. Presentation

2. Due Diligence Questionnaire   

 

Primary focus on income, not capital value growth.

 

FSIF offers a low cost way to invest in UK commercial property through a defensive portfolio of well-positioned “core” assets targeting a dividend payment in excess of 6% per annum with no gearing. If geared at 50% we would expect to earn a return on equity (ROE) in excess of 9% per annum. It is intended to mirror UK Pension Property Portfolio (UK PPP), an FPAM managed fund launched in February 2010 on behalf of 3 pension fund clients of Stamford Associates Ltd.

 

 

Sectors                       Retail, office, industrial/warehouse, leisure.
Yields

Minimum Net Inital Yield (NIY) on purchase of 6%
Lot Sizes

£2 - £15 million
Geography UK
Purchase Price

Not to exceed independent third party valuation
Exclusions

Development; Entirely vacant properties

  

 
Fund Life                                           

7-10 years, plus extension option
Target Size

£100-200 million
Borrowing Criteria

Up to 50% of the value of the fund

Fprop Co-Investment

£250k - £1 million dependent on quantum of investor subscriptions

Distributions

Quarterly; all surplus income (after deduction of costs and retentions for CAPEX)

Structure

Limited Partnership (TBC)

  

 

Target ROE

>6% p.a. un-geared;

>9% p.a. geared (50% LTV)

Target IRR

>8% p.a. un-geared;

>11% p.a. geared (50% LTV)

Target Dividend

>6% p.a., payable quarterly

 

 

 For fuller details, please see FOP Secure page




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