FINANCE NEWS: UK property fund to focus on the retail and leisure sectors

A multi-million pound property fund is to offer charities the chance to invest in the retail sector.

The Gullwing No 1 Ltd Partnership will launch next month and allow organisations the opportunity to investment in retail and leisure commercial properties across the UK.

Michael Lynn, managing director of Gullwing Asset Management, said that the £50 million fund was a different option for charities because it did not invest in offices. "Prospects for the retail sector are much stronger than the office property sector," he said. "Research indicates that retail and industrial sectors will show the best commercial property performance over the next five years."

The seven-year fund follows the launch of The Charities Property Fund, managed by Carr Sheppards Crosthwaite, and CCLA's COIF Charities Property Fund earlier this year.

The minimum investment in the fund will be £50,000 and offer will close in December. Lynn said, however, there will be subsequent funds in the near future.

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