Property trust assets now worth £100m

The Property Income Trust for Charities has purchased three new properties, bringing its total assets to more than £100m.

It has acquired properties in Manchester, Cardiff and the Solent area. Investors can expect an annual yield of 5.7 per cent.

The trust, managed by Mayfair Capital Investment Management, is a property unit trust that has a special dispensation from HM Revenue & Customs that exempts it from stamp duty.

Fund director James Thornton said: "We have an active investment style and the exemption from stamp duty lowers our dealing costs so we can be more nimble in the market than similar trusts."

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