Property investor Welpic set to raise £100m in London markets

 
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A WEST END investment company will become one of the first firms to raise cash through a London listing this year.

The newly-formed firm, named West End of London Property Investment Company (Welpic), yesterday said it plans to raise more than £100m and gain a listing on the Alternative Investment Market.

The company hopes to invest in office property in the West End and Midtown areas by pouring cash into closed-end unit trust Welput, which has already built up a £873m real estate portfolio made up of 12 properties.

Schroder Property Investment Management, which helps to manage Welput alongside Grafton Advisors, is acting as Welpic’s investment adviser.

Oriel will be the firm’s nominated adviser and broker. It aims to start trading on 5 February.

“Welpic provides investors with a listed and tradable security that gives direct exposure to an established portfolio of West End and Midtown London assets,” said William Hill, head of property at Schroders Property Investment Management, in a statement yesterday.