GROUND RENT REIT 50% INVESTED

Ground Rents Income Fund plc, a listed real estate investment trust (REIT) investing in UK ground rents, has announced it is now 50% invested following its IPO in August 2012. The fund has recently invested in several landmark new-build developments including Clapham One in South West London (for £1 million )and One Park West in Liverpool, acquired for £2.7 million.

James Agar, Investment Director of Braemar Estates, Adviser to the Company said: “The Company has been successful in acquiring assets which fit the profile of providing investors with long-term, secure income with a quasi inflation hedging. We have also identified an excellent pipeline of opportunities for completion in the first quarter of 2013, which we anticipate will see GRIF outperforming the 12 month investment timescale that was set at launch.”

The Board anticipates a further capital raise in 2013, aimed at taking the market capitalisation to £100m. The investment objective of the fund is 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, with the potential for capital growth from active asset management.