K&C REIT plc will own and manage Central London residential property within a favourable tax structure, and aims to build a residential property portfolio valued at over £500m.
Contracts have been exchanged for an initial SPV acquisition, with a second acquisition expected within three to six months.
Dealings are expected to commence on AIM in late May 2015.
Commenting, K&C’s CEO, Tim James said:
“On admission to AIM, K&C will provide investors with a unique opportunity to gain exposure to the Central London residential property market, one of the most resilient sectors of the UK housing market over the past few decades. By taking advantage of a REIT’s favourable tax structure, we will have the ability to purchase properties at a discount to market value and will look further to increase value through active asset management, aiming to generate growth in capital values and rental yields.
“We bring to the market what we believe is one of the strongest management teams in the London residential sector today. With demonstrable experience across both residential property and capital markets, the team has generated positive returns for investors in a number of previous public and private investment funds.
“Using our expertise and long-term relationships in the Central London residential market, we are confident that we will build a portfolio valued at over £500m and provide an exit strategy for vendors and attractive yields to investors.”
