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Charities that have invested in the first property common investment fund have seen it outperform other pooled property funds by 3.3% in its first fully year, returning 10.3% for 2001 against an IPD average of 7% on the underlying property.
Charities that have invested in the first property common investment fund have seen it outperform other pooled property funds during its first full year.
Property investments are forecast to give ‘real' returns of around 7 per cent a year until 2005, Savills Fund Management revealed recently.
The Charities Property Fund has purchased the freehold investment interest in Unit 2, Bede Island North, Western Boulevard, Leicester for £2,535,000, representing a net initial yield of 8.25% with a reversion due in June 2003.
The Charities Property Fund has purchased the freehold investment interest in 113-114 High Street/8 St. George's Street, Winchester from BBC Pension Fund for £2.4 million, reflecting a net initial yield of 6.9%.