All Saints marks a return to the commercial real estate market for evolve. It ‘called the market’ over 4.5 years ago in early 2005. Now, however, it believes that conditions are favourable again for those parties who exercise careful stock selection and have ‘access to market’.
- At a time of renewed competition from UK and overseas investors for prime UK real estate, evolve has real access to market, plus proven stock selection and track record.
- The All Saints portfolio approach will mitigate tenant risk, avoid need to ‘warehouse’ deals and give an ability to seek extra value in the market as a cash purchaser.
- Only cautious level of debt, if any, will be used. Loans not to exceed 50% of value of portfolio.
- evolve’s Strata Fund, its only other blind / pooled fund, was launched in April 2007 at £1,000 per Unit. Strata’s subsequent performance includes 7% Distributions and an increase in Unit value to £1,055 (Oct 2009).
- All Saints will have the same, we believe unique exit strategy as the Strata Fund. It commences after year 5 and includes a commitment to extend the Fund after 7 years.
- Also like the Strata Fund, All Saints will also have discounted annual management charge on uninvested sums.
- All Saints has this website for Investor communications such as 1/4ly NAVs. Investors and advisers to have secure access.
The 2007-2009 downturn in the UK real estate market has created an opportunity to benefit from unique market conditions - a combination of 40-50% fall in values from the mid 2007 peak, plus comparatively high income potential and low interest rates.
The evolve All Saints Property LP has been established to provide private investors with a tax efficient opportunity to benefit from these market conditions - through 5-7% p.a. Distributions and 10-12% p.a. IRRs.