Mill Group UK Property Fund
- Established in 1995 in Guernsey as a twin distributer /capital appreciation fund.
- Focussed on commercial and residential property
- Value or projects peaked at about £25m
- Managed by Saffery Champness, Guernsey
- Property manager was Mill Group
- Fund terminated after 3 years at Investors’ request, having achieved just under the 5 year target of 10% IRR
- Residential projects included 10 houses in Cambridge refurbished and brought back into use.
Past Residential Funds experience before the establishment of Mill Group
South Eastern Assured Homes and similar
- A series of 8 public companies launched between 1988 and 1991
- Raised over £60m of investment from retail investors
- Portfolio of about £300m mainly new build development
- Quality board led by Michael Davies
- Early bank guaranteed BES scheme
- Investment model – residential vulture funds with 5 year hold through letting under the (then) new Assured Tenancy leases
- Performance good with recovery of the market as predicted
Home reversion schemes
- A series of 5 public companies launched between 1990 and 1993
- Raised over £20m of investment from retail investors
- Portfolio of several hundred home reversion investments made
- Target investment parameters of 6% discount and 100% capital growth delivered, plus tax relief
Student accommodation schemes
- A series of 13 public companies launched between 1992 and 1997
- Raised over £63m of investment from retail investors
- Deals with Cambridge Colleges - Kings and Corpus Christi, Sheffield Hallam University and Roehampton Institutes
- Portfolio of about 1300 student accommodation units made
- Target investment parameters delivered, plus tax relief
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