Tritax has launched a property income fund targeting assets outside London.
The company said the Tritax Property Income Fund (TPIF) would complement its Tritax Big Box REIT.
Structured as an open-ended Jersey unit trust, the fund has 拢115m (鈧�147.5m) in seed capital.
Tritax is looking to grow the fund to more than 拢500m over the medium term.
The fund will take an income-focused, core-plus approach outside central London.
The company recently recruited Tim Legge for the strategy.
With leverage of up to 25%, Tritax said the fund aimed to deliver 70-80% of its total return through a target annual distribution of 5.5%.
The fund was launched following negotiations with UK investment consultancy and fiduciary manager P-Solve, which with River and Mercantile.
Tamsin Evans, head of multi-asset at P-Solve, said the fund was the result of a 鈥渃lassic coming together of demand and supply鈥�.
鈥淲e came to the conclusion that an opportunity exists for attractive, risk-adjusted returns in select regions and sectors of the UK commercial property market,鈥� Evans said.
