IN FO­CUS: ST CHRISTO­PHER’S PL ‘ IT WILL AL­WAYS BE IN FASH­ION’

The Daily Telegraph - Your Money - - FRONT PAGE -

St Christo­pher’s Place is a mixed-use devel­op­ment in a very at­trac­tive part of Lon­don’s West End, close to Bond Street.

It is the big­gest hold­ing in our port­fo­lio and we like it be­cause it has a mix­ture of re­tail, res­i­den­tial, of­fices and restaurants, which means we are not ex­posed to just one sec­tor.

There are 44 in­di­vid­ual build­ings in the estate and there is a nice am­bi­ence to the area, which has a pi­azza in the cen­tre. There are very few op­por­tu­ni­ties in cen­tral Lon­don to in­vest in an estate like this.

Cur­rently, there is a re­ally good di­ver­sity in the oc­cu­pants. It is a great asset be­cause we can man­age and en­gi­neer the ten­ant line-up and im­prove the mix over time, de­pend­ing on mar­ket con­di­tions.

Be­cause we own the en­tire estate, we get the ben­e­fits of in­creased rents and higher cap­i­tal val­ues across the whole area.

This is al­ways go­ing to be a very at­trac­tive part of town. We man­age this estate to gen­er­ate in­come and then ben­e­fit from in­creased value of the prop­er­ties.

This is a core asset for us and we strongly be­lieve in it – it is the largest asset within the port­fo­lio by far.

We want of­fice build­ings that are let to mul­ti­ple companies, so you are not tak­ing a risk on a sin­gle ten­ant.

Companies now want build­ings that have a good am­bi­ence and fa­cil­i­ties so they can at­tract and re­tain young ta­lent.

We have seen the growth of co-work­ing and ser­viced of­fices such as WeWork and, as tra­di­tional land­lords, we have to pro­vide the qual­ity to com­pete. I have an in­vest­ment in it, which I think is rea­son­able enough. I wanted to be an ar­chi­tect, but my draw­ing skills just weren’t up to scratch. But this job means I am still in­volved, just in a dif­fer­ent way.

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