The Company targets properties let on Full Repairing and Insuring leases to the UK Government or UK Government guaranteed covenant.
It also looks at quasi-government tenants such as doctor’s surgeries; the National Health Service Trust; Statutory Undertakers, and Local Government Authorities. It has a well-developed deal pipeline with properties being tracked in Reading, Birmingham, Durham, Swansea, Manchester, Liverpool, Glasgow, Cambridge and Bristol. These will be let to 5A1 covenants or the Government and are of the type, size and variety envisaged by the company’s business model, and are currently available for immediate acquisition. The Company will maintain a blended loan to value ratio of between 50 % and 60 %. It is the Company’s strategy not to gear a property beyond its Vacant Possession Value.