Our Funds

GCAP 1

The first fund closed in May 2016 with approximately £50m of assets under management.

Objectives & Strategy

GCAP acquires and manages commercial properties in the UK. The management team seeks to purchase relatively low risk assets which provide a combination of sustainable income plus asset management upside.

The fund in numbers

13

Investors

£18+m

Equity Raised

10

Assets

£7+m

Distributed to investors so far

Properties Acquired

Burger King & KFC, Glasgow

Why did we buy it?

The property is situated in a prime position on Sauchiehall Street, offered a good income profile together with 10,000 sq ft of unused floor space.

Asset Management.

We have obtained planning permission for 9 apartments within the vacant upper floors.

New 20 year lease completed with KFC from January 2018.

Nile House, Glasgow

Why did we buy it?

Nile House offered a high yield together with significant redevelopment potential in a prime mixed use location on the corner of Bath Street and West Nile Street.

Asset Management.

Alongside architects, 3D Reid, a scheme for 60,000 sq ft of Grade A offices over 11 floors has been produced, as shown overlaying the photo.

French Connection, Nottingham

Why did we buy it?

Attractive initial yield and a low rebased rent, together with 5,000 sq ft of vacant upper floor space.

Asset Management.

A new 10 year lease was completed with French Connection in 2015, and planning permission obtained for 14 apartments within the vacant 2nd and 3rd floors.

The property was sold in April 2018 for £2.55m, which produced a property level IRR of 20%.

Pandon, Newcastle

Why did we buy it?

Pandon offered a high initial yield and low reversionary rents, together with a long income profile.

Asset Management

Rent reviews were agreed with the ground floor restaurants providing an increase in the rent passing.

Windsor Court, Cardiff

Why did we buy it?

A prominent mixed use block on Queen Street, which benefits from the highest footfall in the city. Wide occupier appeal, and potential for increased density and higher value alternative uses.

Asset Management

Alongside architects JWA we have completed a residential scheme for the upper floors, incorporating 2 additional floors. Planning consent for A3 (restaurant use) was received for the main A1 (retail) units on ground floor. Lettings are underway to national A3 multiples.

Sheldon Retail Park, Birmingham

Why did we buy it?

Prime retail park with extensive frontage to Coventry Road, with occupiers trading well off affordable rents.

Asset Management

This property was sold for £5.1m, which produced a property level IRR of 40%.

Walkabout, Birmingham

Why did we buy it?

A large unit let for 20 years to a tenant that is trading well from a property situated within the prime leisure pitch of Birmingham.

Asset Management.

This was sold off market for £5.95m, which produced a property level IRR of 40+%.

Gala Bingo, Derby

Why did we buy it?

One of Gala Bingo’s top performing units that sits on a large 2.2 acre site with redevelopment potential to higher value alternative uses.

Asset Management.

A new 15 year reversionary lease at the current passing rent was completed in February 2018, which produces a term certain in excess of 18.5 years.

Travelodge, Sutton-In-Ashfield

Why did we buy it?

Long income profile plus strong future lease re-gear opportunities.

Premier Inn, Birmingham

Why did we buy it?

This property was sold prior to completion at a £500k premium to the agreed purchase price.

View GCAP 2