09 August 2017
Reporter: Theo Andrew

Henley launches £400 million long-income fund

Henley has launched its first fund, Henley Secure Income Property Trust (SIPUT), and hopes to raise £400 million in the next six months after acquiring a portfolio for £70 million.

The core long-term income fund made its first purchase in an off-market deal, acquiring a UK based-portfolio of 49 supported living properties, all let on a long-term basis and backed by Housing and Communities Agency (HCA) providers.

SIPUT held its first close in July and will continue to target HCA-registered providers with assured shorthand tenancies (AST), for properties housing vulnerable adults whose rents are met with housing benefits.

An AST enables the landlord to evict the tenant after an initially agreed period, usually six months, without legal reason.

According to Henley, it will target income of more than 5 percent per annum over the 25-year life of the fund, offering “institutional investors access to long-term inflation linked secure and sustainable returns”, according to Ian Rickwood, CEO of Henley Investments.

The UK investor has already undertaken a number of key transactions through its Henley Healthcare platform, totalling £250 million.

Rickward said: “With growing demand in the supported living sector, there is a significant need and market opportunity, matched with increasing institutional interest in the space.”

“The launch of the fund and the first acquisition builds on the strong track record of the market-leading success of Henley over the last few years. We remain committed to finding, executing and growing our range of real estate investments meeting the needs of investors.”

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