Private investors will soon have the chance to invest in an established £873m West End property portfolio through a feeder vehicle to be launched on Aim. Called the West End of London Property Investment Company (Welpic), the new company - which hopes to raise at least £100m - will buy shares in the West End of London Property Unit Trust (Welput), an institutional office fund managed by Schroders and specialist consultancy Grafton Advisers.
The West End property market has hit a purple patch, with intense demand for institutional-grade assets from cash-rich global investors and very limited development to increase supply. Rents are growing at 4-5 per cent, led by demand from the tech sector in areas such as Fitzrovia, Victoria and King's Cross.
Welpic's main selling point is that it will offer immediate access to a strong market at book value. Shares in