Stenham, the South African investment management group, is re-entering the UK property market after an absence of four years as it seeks to take advantage of 'significant' opportunities in the country. In a statement on Wednesday, the company said it has appointed Andy Taylor as head of UK Property.
Stenham, the South African investment management group, is re-entering the UK property market after an absence of four years as it seeks to take advantage of 'significant' opportunities in the country. In a statement on Wednesday, the company said it has appointed Andy Taylor as head of UK Property.
'Stenham has made a strategic decision to return to the UK commercial property market. The current turmoil in the financial markets and the need for some asset managers to liquidate property portfolios is beginning to offer exceptional value in UK commercial property,' the company said.
Taylor recently joined the Stenham team to pursue these UK property opportunities.
Paul Arenson, managing director of Stenham Property, added: 'For the past few years, we have concentrated our investment activity in markets other than the UK - primarily in Germany, Switzerland and Japan. We again feel that there are significant opportunities arising in the UK commercial property sector to acquire properties offering exceptional value.'
Stenham has a 15-year track record of investing in property primarily by way of closed-ended property funds and currently has £2 bn (EUR2.2 bn) of property assets under management. Stenham is a member of the Peregrine Group, a provider of wealth and alternative asset management solutions in South Africa and Europe, with assets under management of $10 bn (EUR7.5 bn).
