Residential property fund launches

Walls & Futures, a specialist property investment company, has launched a closed-ended fund investing in British residential property.

The Walls & Futures London Growth fund is aiming to raise up to £10m equity, plus subsequent 50% gearing, to create a fund of £20m. This will be invested in freehold houses and leasehold apartments in central and south west London.

These are then refurbished and let to young professional tenants to provide rental income and capital growth.

Structured as a close-ended Scottish Life Partnership, the fund has a five-year fixed life and is eligible for investment via Self-Invested Personal Pensions and Small Self Administered Schemes. The minimum direct investment is £25,000.

The fund is targeting an internal rate of return of 10.49%.

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