News
June 2010: We are pleased to announce that the Palmhurst Residential Property Fund has agreed to purchase residential buildings with a combined value of in excess of £8.25 million.
The buildings are located in zones 2 and 3 locations and will have a combined rental income in excess of £500,000.
May 2010: The Palmhurst Residential Property Fund has exchanged contracts on it's first acquisition, a residential apartment block in Balham, South West London. Once refurbished it will be let on assured shorthold tenancies.
The building was purchased at a 20% discount to open market value and acquired out of the funds own cash resources without recourse to bank funding.
Aprl 2010: Palmhurst Group has launched a private equity fund, which has raised £25 million to acquire residential investments in London & Home Counties with a primary focus on London Boroughs.
We are co-investors and sole managers of the fund and will be looking to invest the funds proceeds within the next financial year. We are pleased to announce the disposal of an office building Let to the Government. The property achieved at a 5% yield and sold by auction achieving 20% over the guide price.