Moorfield backs new property stock exchange

Moorfield Group has become the latest company to invest in the new property stock exchange IPSX, which is expected to launch later this year. The undisclosed investment follows commitments from British Land, M7 Real Estate and four partners at Tritax Group. IPSX will give investors the opportunity to gain direct exposure to single assets rather than buying shares in companies that hold property portfolios. It will launch once it is given full FCA authorisation. Marc Gilbard, chief executive of Moorfield, said: “I am a keen supporter of the IPSX proposition and feel that the creation of a liquid flexible market for the realisation, investment and trading of a range of real estate assets is long overdue. “In broadening the access to an asset class which is only currently available directly to institutional, professional or high-net-worth investors, IPSX will provide significant benefits to many other real estate investors. Of course it will also deliver some much needed real time valuation evidence.” IPSX facts IPSX is a stock exchange for companies that own single commercial real estate assets Primary owners are Wyvern Partners investment banker Anthony Gahan, former chief executive of Plus Markets Cyril Theret, and former chief executive of LCH Clearnet Ian Axe Minimum asset value is £700,000, “sensible minimum value” is £25m, early IPOs likely to be £50m-£100m with no maximum At least 25% of each asset must be listed Each property will have its own board and structure Shares to be sold through IFAs and stockbrokers Most companies listed likely to be set up as REITs   To send feedback, e-mail karl.tomusk@egi.co.uk or tweet @ktomusk or @estatesgazette