AIM-listed property investor Braemar Group has confirmed that it has invested in
Braemar’s Guernsey-listed Ground Rents fund has acquired the ground rents to 173 flats and 8,400 sq ft of commercial space for an undisclosed sum, in the first phase at the 1.1m sq ft Masshouse development.
The scheme is being built by Masshouse Developments – a joint venture partnership between Manchester-based Nikal Investmentd and the Royal Bank of Scotland.
Chief executive Marc Duschenes said Masshouse was “a significant development”, which was 100% sold and had a contracted yield of 7.2% pa.
The fund opened for investment in May this year and is actively looking to buy freeholds and head leases of retail, commercial and residential properties.
lisa.pilkington@estatesgazette.com
