Property consultant Walls & Futures to launch London residential fund

Property investment consultancy Walls & Futures is to launch a new central London residential property fund targeting a 10% annual yield.

The closed end fund will raise an initial £10 million in capital to rise to £20 million once geared, with a minimum investment of £25,000 and a five-year life.

Managers will invest in a portfolio of prime residential property in the west of London between Kensington & Chelsea, Hammersmith and Merton.

Walls & Futures director Joe McTaggart said: ‘According to the Land Registry, over the past 20 months the average house price in London has fallen from £355,934 to £306,934. There is a fantastic opportunity for investors to re-enter the market.’

A combination of a favourable euro/sterling exchange rate and property prices off from peak has ensured that overseas buyer interest in west London has remained strong. The managers will target a combination of rental yield and capital growth.

Walls & Futures provides outsourced property services to institutional asset managers, and has advised on and invested in £350 million of property over the past 15 years.