Secured Assets for Growth Fund V

Two assets already secured for Growth Fund V, with a third opportunity in due diligence.

The latest Close of the Barwood Regional Property Growth Fund V LP (GFV) took the total investor commitments to over £42m, demonstrating the strength of continued investor support to our Growth Fund series.

Growth Fund V has also completed the acquisition of its first two assets. Firstly, a site occupying a prominent position on Aztec West, Bristol’s premier out of town business park. The business plan is to demolish two obsolete office buildings and speculatively develop a 38,136 sq ft single hi-tech industrial unit with a strong sustainability focus, to capture the exceptional occupational and investor demand in this location.  This underpins the Fund’s investment strategy of unlocking value and driving sustainable growth by repositioning an obsolete asset. 

Secondly, the Fund has acquired a former Officers’ mess, in Greenwich, southeast London, with a business plan to secure planning for a 75-bed care home re-development. We have already received strong interest from a number of care home operators to purchase or lease the consented scheme.

There is a continually improving pipeline of opportunities that meet the investment strategy, given the change in the market, and to that end we have improved the Fund’s target returns to 13-15% IRR.

Growth Fund V continues to follow the same Growth Fund series investment strategy, to invest in underperforming, undermanaged or obsolete real estate throughout the UK regional markets, which have the potential to deliver strong and sustainable growth through planning, development and proactive asset management, focussing on opportunities where there is the ability to repurpose, regenerate and reposition assets or sites across office, industrial, retail warehousing, later living and science/tech clusters.