Dublin-based wealth management company Custom House Capital (CHC) is predicting strong equity returns for its investors following the completion of Portland House, a state-of-the-art, sustainably developed office building in Solihull, UK. The property was purchased in 2006 for about EUR 34 mln at an initial yield of 5.25%.

Dublin-based wealth management company Custom House Capital (CHC) is predicting strong equity returns for its investors following the completion of Portland House, a state-of-the-art, sustainably developed office building in Solihull, UK. The property was purchased in 2006 for about EUR 34 mln at an initial yield of 5.25%.

The purpose-built, landmark property extends to about 5,500 m2 and can accommodate 230 parking spaces. Portland House is the first building in the area to have a BREEAM (the Building Research Establishment Environmental Assessment Method) rating of excellence. It also benefits from its strategic location close to Birmingham NEC, Birmingham International Airport and Railway Station, and has excellent road, rail and air links to the rest of the UK.

'Portland House enabled us to offer investors an excellent opportunity to invest in high-quality, geared commercial property in a prime location,' said Harry Cassidy, chief executive of Custom House Capital Ltd. which handled the investment funding of the property. 'This state-of-the-art building is expected to yield some excellent equity returns as it represents a highly attractive long-term investment for pension and other funds.'

Portland House is to house the UK headquarters of Lafarge Cement UK, the largest cement manufacturer in the UK and producer of the market-leading Blue Circle cement products. The building was chosen by Lafarge Cement UK to showcase its organisation to clients in the UK and worldwide. The company has agreed a 20-year lease term from completion.

CHC's full investment portfolio comprises 75% property and 25% equities. In addition to UK properties, more than 30 large overseas commercial investment properties have been purchased in the past 12 months in Germany, France and Switzerland alone.