A joint venture ("Joint Venture I") established and operated by Resolution Property PLC. Now closed to investment.

With a growing awareness of the residential property market as an avenue of investment for property fund investors, Nice Group have been using its expertise in this area to manage the fund's property portfolio. The model allows an Investment that offers opportunities to add value through refurbishment and repositioning.

An example of this was in Joint Venture I, mainly concentrated around Canary Wharf in London. Working with our joint venture partner, Resolution, we acquired town houses within easy commuting distance of Canary Wharf. These houses were then comprehensively refurbished and where possible extended, adding value.

The houses were then leased, room by room, to professional tenants working in London. Once fully let, all these properties are re-valued, and the gained equity released for further residential investment.

Total number of purchases: 118
Total Purchase Value £98,000,000
Including 3 separate projects of over £5,000,000 each.

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