Schroders to raise £100m for London property trust AIM listing

The Schroders-managed West End of London property trust is seeking to raise over £100m via an AIM listing giving investors access to its Jersey-domiciled vehicle.

The West End of London Property Investment Company (WELPIC), a new Guernsey-incorporated trust, will invest in the existing West End of London Property unit trust (WELPUT), managed by Schroders and Grafton Advisers. WELPUT, an £873m portfolio established in 2001, provides institutional investors with exposure to the still-booming West End and 'Mid Town' London office property market. The new trust is seeking to increase its market capitalisation to over £250m in the coming 18-24 months, and subsequently seek admission to the main market of the London Stock Exchange. AIM dealing is...