Mark Hutchinson, CPI marketing manager, says: “There has been demand for a high-yielding property fund from intermediaries. Increased property prices in the prime commercial property market has driven down yields, but high yields are still available in niche areas.”The fund’s adviser is Close Business Centre Capital. CBCC managing director Jonathan Price says business centres have been overlooked and undervalued by traditional property investors. Indeed, he adds, such centres are becoming the “office of choice” for small to medium-sized companies. The closed-ended property fund is aiming to raise £10m in equity and will add 50% in borrowing. Hutchinson says that assuming the £10m equity is raised, the fund should hold five or six different properties. He adds: “This is a focused fund in a niche sector of the market. The level of target income is attractive and there is no other product like it in the market.” The minimum term for investments is five years, after which time investors will be given the opportunity to exit the fund. Minimum investment is £25,000, and for intermediaries there is an initial commission available of 5%, with a 0.25% annual trail. The fund is available as an exempt trust for self-invested personal pension and small self-administered scheme investments, and a UK unauthorised trust for private investors.