LCP launches £100m PRS fund

London Central Portfolio has announced the launch of a £100m private rental sector fund. The five-year London Central Apartments IV will target returns of 10% per annum, focusing on properties with added value potential in prime central London. The company said it did not expect to launch a fund this year but had seen growing interest from potential investors wanting to take advantage of low interest rates and a fall in the value of the pound. Naomi Heaton, chief executive of LCP, said: “Just as in 2009, this cooling off represents an excellent opportunity for the savvy investor to secure good value deals before the market picks up again. “We expect investor demand for prime central London’s PRS to continue to pick up as uncertainty of a hard Brexit keeps a dampener on sterling, whilst prime Central London’s attraction as a centre of culture, finance and education remains as strong as ever.” The company will officially launch the fund next month during a tour of south east Asia. >>>FROM THE ARCHIVE: LCP launches PRS fund