Following the £58 million sale of its residential property portfolio to Grainger PLC, The Pervaiz Naviede Family Trust is turning its attention towards premium real estate in the UK.
The Trust made the announcement on the new fund this month on the first stage of its plan to diversify its portfolio. While the sale of its residential Portfolio to Grainger PLC suggested that the Trust may be refocusing its attention outside the property sector, this announcement reaffirms their commitment to regeneration in UK cities.
The Trust announced that the value of lots can range from £500,000 to £20 million and above depending on the type of opportunity that exists. Areas that are of particular interest include retail centres and warehouses, potential office space conversions and converting buildings for residential use.
Industrial distribution hubs with excellent motorway access will also be an important part of the Trusts plans for the future.
Scott Neal, a spokesperson for the Pervaiz Naviede Family Trust, said, “Having firmly established a strong track record in regenerating deprived areas (pictured) through its development arm, LPC Living, the Trust is now looking to diversify further into high quality commercial and residential opportunities. We are particularly interested in sites which offer excellent potential for increases in capital values and/or the ability to add value through further investment.”
The Trust has already exchanged contracts on a £2m commercial property on Eastgate, Chester. This will be the first site acquired through the new fund.
Detailed requirements of the Trust can be downloaded here.
Posted on: March 10, 2015