The Company was incorporated in the Isle of Man on 10 June 2002 as a closed ended investment company. The Company was formed primarily for investment in UK commercial property. The objective of the Company is to seek to improve income, reduce debt and provide the prospect of long term capital growth.
The Company’s Investment Advisor and Manager is Alpha Real Capital LLP (“the Investment Manager”). Control of the Company rests with the non-executive Isle of Man based Board of Directors.
The strategy to deliver shareholder value will continue to focus on the following objectives:
- To enhance net rental income – the marketing strategy for vacant units will aim to meet tenant requirements for good quality affordable accommodation on flexible lease terms.
- To selectively deploy capital expenditure when ‘value add’ opportunities are identified – a rolling programme of maintenance will continue to be undertaken. However priority will be given to refurbishments where a property can be significantly enhanced to attract additional tenant demand. The Investment Adviser and Manager is also looking to identify opportunities to extend leases and or remove tenant breaks where appropriate value can be unlocked.
- To reduce borrowings through rental surplus and to reduce the LTV ratio through limited strategic sales – disposals may be considered where it is believed that the price net of costs, likely to be achieved, will benefit shareholder returns.
The Company's shares have been de-listed from the Specialist Fund Segment of the London Stock Exchange, with effect from 8.00am on 8th June 2017, following approval of the Shareholders at the EGM on 11th May 2017.
Audit Committee Terms of Reference