Christopher Dee has completed the investment of £16 million into four UK properties for The Independent Order of Oddfellows Manchester.
The properties, which are let to McDonald’s, NHS Property Services, Wagamama and Go Outdoors, will provide an average initial return of 6.5% for the fraternal order.
Manchester-headquartered financial consultancy Christopher Dee says the assets, which are located in London, Edinburgh, Blackburn and Knowsley (pictured), will add close to £1 million per annum to the fund’s existing rental income.
The new debt was negotiated with Rothschild & Co and is the first time The Oddfellows has raised additional capital in this way.
The unitised property fund provides returns for Oddfellows’ 129 UK branches as well as central funds and has a current value in the region of £65m.
The fund holds investments in locations including central Manchester, Edinburgh, South Kensington and Notting Hill in London and includes tenants such as Aldi, Travelodge Hotels and Network Rail.
Chris Jones, partner at Christopher Dee, says: “The debt-raise and swift deployment of the capital into the market has maximised returns for our client. We have focused on stock that can cope with the inevitable changes in the market that is now being properly contemplated by professionals dealing in the sector.
“With signs that Brexit is now beginning to impact in a negative way in several property sectors, and as occupier demand, stalled by uncertainty, is no longer a given, it will be quality, well-let stock that will prevail over the next few years.”