We are a specialist investment manager, focused on identifying and managing strategically located property on behalf of our investors.

ABOUT US


Since inception in 2009 the company has acquired a portfolio of property valued in excess of £120m for its professional client base of High Net Worth and sophisticated investors.

The team has a wealth of experience in property investment, development, structuring syndicated investor schemes and funding projects.

WHAT WE DO


We focus on providing secure income property investments that are underpinned by robust fundamentals and have the ability to deliver a planned ‘exit’ for investors.

We target properties with attractive alternative uses and/or have the potential to enhance value by improving the properties lease terms.

We partner experienced development managers to provide our investors with exposure to a diverse range of development funding opportunities.

DELIVERING VALUE


Our objective is to provide our investors with a diverse range of national property investment opportunities.

We work exclusively with High Net Worth and Sophisticated investors and tailor opportunities to both market condition and investor requirements.

Our network of property investment advisers source opportunities nationally which has produced a diverse investor portfolio with a balanced spread of properties across a number of sectors and locations.

Our charging structure is designed to align our interests with investors. We do not charge pre-determined annual fees but instead are paid for arranging the investment and thereafter at the discretion of investors once value has been achieved.

KEY FACTS – PORTFOLIO SUMMARY


25

25 Properties under management nationwide

£120m

£120m of property under management

99%

99% of all rents collected and distributed 25th March 2020 to 25th March 2021

0.5%

0.5% of the property portfolio is vacant and available to let

2.5%

2.5% of the portfolio is debt funded (one asset) with a LTV ratio of 50%

7.75%

Average annual distributed return 7.75%, paid quarterly in advance


SECTOR ANALYSIS


TENANTS


INVESTMENT PHILOSOPHY

“Never test the depth of the river with both of your feet”
Warren Buffet

INVESTMENT STRUCTURE


A bare trust is established for each property purchase. An independent professional trustee holds the legal title to the property in trust, on behalf of syndicate members. Rougemont is employed as the FCA authorised managing trustee and co-ordinates the operation of the trust property. Syndicate members are the legal beneficial owners of the property in direct proportion to the value of their respective investment. The structure allows syndicate members to sell their holding at any point. Each property is independently valued annually.

BENEFITS


  • Investors become the direct part owner of a quality tenanted investment property via an FCA approved syndicate structure.
  • All property tenancies are established on full repairing and insuring terms placing the repairing responsibility on the tenant.
  • Unlike a discrestionary collective fund or an investment in a listed property company, investors have the choice to invest in a wide range of sectors, commensorate with their appetite for risk.
  • Smaller investors can participate directly in larger investment opportunities with stronger tenant covenant cover, that they may otherwise not have access to.
  • The syndicate structure has obtained approval from a number of market leading pension fund providers enabling an investor to participate through their SIPP or SSAS pension fund.

EXAMPLE INVESTMENTS


The NBD Scotland Syndicate

Purchased in December 2013, a new whisky maturation warehouse located on the M8 motorway outside Edinburgh. The property benefited from a new 15 year lease to an international distillery, with fixed rental increases and no break options. In August 2018, the syndicate opted to repay the bank borrowings by introducing additional cash resource.

Syndicate Price: £6,320,000 (valuation August 2018 £7,120,000)

Debt Funding: No borrowings

Term of Investment: Projection 15 years plus

Net Return: 7.75% pa paid quarterly in advance

Total Return on investment to date: 11.50% pa (April 2019 valuation)

The EH York Syndicate

Purchased in January 2012, a Grade 2 listed office, located within an improving central area of York. The property was subject to a lease to English Heritage expiring 2022, with a tenant only break option in 2017. A new 5 year lease extension was negotiated, expiring 2027, including an RPI linked rent review in 2022 with no break options.

Syndicate Price: £2,600,000

Debt Funding: No borrowings

Term of Investment: Projection 10 year plus

Net Return: 7.00% pa paid quarterly in advance

Total Return on investment to date: 9.00% pa (April 2019 valuation)

The Cube, M4 Bristol Syndicate

Purchased in October 2017, 3 self-contacted office buildings located on Bristol Parkway adjacent to the M4 motorway. The property is occupied by 3 tenants and offers excellent prospects for rental growth due to the lack of development and available office accommodation in and around Bristol. The property has been purchased with a strategy of improving the occupational lease terms over a 5 year investment term.

Syndicate Price: £2,325,000

Debt Funding: No borrowings

Term of Investment: Projection 5 years

Net Return: 7.85% pa paid quarterly in advance

Projected Total Return on investment: 10.00% pa

The Marshalls Elland Syndicate

Purchased in November 2016, an out of town headquarters office investment, located outside Leeds and within 1 mile of the M62 motorway. The property is subject to a 25 year lease (no break options) to the D&B 5A1 covenant of Marshalls, expiring 2037. The lease benefits from fixed annual rent increases every fifth year. The property was sold in June 2021.

Syndicate Acquisition Price: £8,500,000

Syndicate Exit Price: £9,250,000

Debt Funding: 45% loan to value, fixed 5 year loan

Term of Investment: 5 years – exited June 2021

Net Return: 7.90% pa paid quarterly in advance

Total Annual Return on Investment: 9.82% pa

The Cocoa Suites Lending Syndicate

In 2018 a secured syndicated loan was provided by investor to assist with the conversion of a York city centre office building in to 34 residential apartments. All apartments were pre-sold with reservation fees paid. A first charge on the property was provided and the loan was drawn down in accordance with an independent surveyor’s certified statements.

Syndicated Loan: £2,200,000

Property value: £2,400,000

Gross Development Value: £5,000,000

Term of Loan: The loan was repaid in full after 13 months

Net Return: 8.00% pa paid quarterly in advance

Royal Mail depot, Newport, Cardiff

Purchased in March 2016 with a lease to Royal Mail expiring August 2030, subject to an RPI linked rent review in August 2020. The property is located next to the railway station and has good alternative use potential, providing underlying alternative rental growth potential.

Syndicate Price: £1,600,000

Debt Funding: No borrowings

Term of Investment: Projection 10 year plus

Net Return: 7.00% pa paid quarterly in advance

Total Return on investment to date: 8.00% pa (April 2019 valuation)

Halifax Bank, Sheffield

Purchased in July 2012, with a 13 year lease unexpired to HBOS plc. Vacant possession was negotiated, subject to a surrender premium from HBOS plc. The property was sold in April 2020 to a UK plc restaurant, pub and bar operator after gaining planning permission for a change of use.

Syndicate Acquisition Price: £2,075,000

Syndicate Exit Price: £2,880,000

Debt Funding: None

Term of investment: 8 years – exited April 2020

Net Return: 7.00% pa paid quarterly in advance

Total Annual Return on investment: 11.25% pa

EXAMPLE INVESTMENTS


The NBD Scotland Syndicate

Purchased in December 2013, a new whisky maturation warehouse located on the M8 motorway outside Edinburgh. The property benefited from a new 15 year lease to an international distillery, with fixed rental increases and no break options. In August 2018, the syndicate opted to repay the bank borrowings by introducing additional cash resource.

Syndicate Price: £6,320,000 (valuation August 2018 £7,120,000)

Debt Funding: No borrowings

Term of Investment: Projection 15 years plus

Net Return: 7.75% pa paid quarterly in advance

Total Return on investment to date: 11.50% pa (April 2019 valuation)

The EH York Syndicate

Purchased in January 2012, a Grade 2 listed office, located within an improving central area of York. The property was subject to a lease to English Heritage expiring 2022, with a tenant only break option in 2017. A new 5 year lease extension was negotiated, expiring 2027, including an RPI linked rent review in 2022 with no break options.

Syndicate Price: £2,600,000

Debt Funding: No borrowings

Term of Investment: Projection 10 year plus

Net Return: 7.00% pa paid quarterly in advance

Total Return on investment to date: 9.00% pa (April 2019 valuation)

The Cube, M4 Bristol Syndicate

Purchased in October 2017, 3 self-contacted office buildings located on Bristol Parkway adjacent to the M4 motorway. The property is occupied by 3 tenants and offers excellent prospects for rental growth due to the lack of development and available office accommodation in and around Bristol. The property has been purchased with a strategy of improving the occupational lease terms over a 5 year investment term.

Syndicate Price: £2,325,000

Debt Funding: No borrowings

Term of Investment: Projection 5 years

Net Return: 7.85% pa paid quarterly in advance

Projected Total Return on investment: 10.00% pa

The Marshalls Elland Syndicate

Purchased in November 2016, an out of town headquarters office investment, located outside Leeds and within 1 mile of the M62 motorway. The property is subject to a 25 year lease (no break options) to the D&B 5A1 covenant of Marshalls, expiring 2037. The lease benefits from fixed annual rent increases every fifth year. The property was sold in June 2021.

Syndicate Acquisition Price: £8,500,000

Syndicate Exit Price: £9,250,000

Debt Funding: 45% loan to value, fixed 5 year loan

Term of Investment: 5 years – exited June 2021

Net Return: 7.90% pa paid quarterly in advance

Total Annual Return on Investment: 9.82% pa

The Cocoa Suites Lending Syndicate

In 2018 a secured syndicated loan was provided by investor to assist with the conversion of a York city centre office building in to 34 residential apartments. All apartments were pre-sold with reservation fees paid. A first charge on the property was provided and the loan was drawn down in accordance with an independent surveyor’s certified statements.

Syndicated Loan: £2,200,000

Property value: £2,400,000

Gross Development Value: £5,000,000

Term of Loan: The loan was repaid in full after 13 months

Net Return: 8.00% pa paid quarterly in advance

Royal Mail depot, Newport, Cardiff

Purchased in March 2016 with a lease to Royal Mail expiring August 2030, subject to an RPI linked rent review in August 2020. The property is located next to the railway station and has good alternative use potential, providing underlying alternative rental growth potential.

Syndicate Price: £1,600,000

Debt Funding: No borrowings

Term of Investment: Projection 10 year plus

Net Return: 7.00% pa paid quarterly in advance

Total Return on investment to date: 8.00% pa (April 2019 valuation)

Halifax Bank, Sheffield

Purchased in July 2012, with a 13 year lease unexpired to HBOS plc. Vacant possession was negotiated, subject to a surrender premium from HBOS plc. The property was sold in April 2020 to a UK plc restaurant, pub and bar operator after gaining planning permission for a change of use.

Syndicate Acquisition Price: £2,075,000

Syndicate Exit Price: £2,880,000

Debt Funding: None

Term of investment: 8 years – exited April 2020

Net Return: 7.00% pa paid quarterly in advance

Total Annual Return on investment: 11.25% pa

THE TEAM


Jan Fletcher, OBE, MBA, Hons DLITT

Chairman

Jan is one of the UK’s leading entrepreneurs. She has successfully owned and operated a wide range of businesses and currently holds chairman and director roles in sectors as diverse as property investment and development, natural health products, wealth management and online publishing.

Jan has a strong track record of helping to steer growth, developing investment strategies, overseeing M&A activity and structuring corporate governance. She was awarded an OBE for Services to Industry in 1997, named Veuve Clicquot British Business Woman of the Year in 1994 and Yorkshire woman of the year in 1995. She was also an appointed Government advisor as a member of The U.K. Secretary of State for Business Entrepreneur’s Forum (BIS) in 2010.

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James Craven MRICS

Managing Director

During the last twenty years James has been responsible for successfully establishing and managing over 60 syndicated investment schemes with a combined value in excess of £300 million.

James has demonstrated a proven track record of delivering successful investment opportunities in varied market conditions and has firmly established a reputation as one of the UK’s leading experts on commercial property syndication.

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Neil Smillie

Director

Neil brings strategic and financial expertise to the board of Directors.

He has held chief executive, financial director and non-executive director roles in: commercial and residential property development, commercial property investment, financial services and motor retailing.  Neil is an approved ‘Controlled Person’ with the Financial Conduct Authority.

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Lynsey Underwood MRICS

Investment Manager

Lynsey joined Rougemont in September 2019 as Investment Manager and assists in sourcing new investment opportunities, as well as managing the existing portfolio for our investors.

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NEWS

26th May 2021

Rougemont newsletter – Vaccines and Values – Summer 2021

With the current success of the UK vaccine rollout, there is hope that we may now be heading towards some semblance of normality. Against this background, we thought it would be useful to provide an u ...

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3rd March 2021

Plans submitted for a new logistics and manufacturing park in Thirsk, North Yorkshire

Developers Opus North and Rougemont have submitted outline planning permission for Dalton 49 Thirsk, a new 43-acre logistics park, to Hambleton District Council. Formerly part of RAF Dalton, the site ...

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4th June 2020

Lockdown and Beyond – Rougemonts investment market assessment

In January of this year, no one could have predicted that in just a few months the global economy would be brought to an abrupt standstill as a result of a viral pandemic. James and Lynsey offer their ...

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27th February 2020

Rougemont completes four investment deals worth £11M

Rougemont, a leading Yorkshire-based commercial property investment company, has recently completed four new strategic acquisitions, worth £11 million. Founded in 2009, Rougemont is one of the UK’s ...

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3rd December 2019

Rougemont Celebrates Tenth Anniversary With Significant Appointment

Leading Yorkshire-based commercial property investment company Rougemont Estates has strengthened its team with the appointment of Lynsey Underwood as Investment Manager. Lynsey, who has moved from Av ...

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11th January 2017

Winter 2017 Newsletter

Our Winter newsletter is now published and available to download below. This summarises the events of 2016 for investors and contacts and shares our views on where we see opportunity during 2017… ...

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6th January 2017

Property Week & Newcastle Chronicle articles on Sandgate House

Rougemont is in the news today with two articles on the recent purchase of Sandgate House on behalf of a private client… The Property Week article is here (subscribers only I’m afraid) The ...

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7th December 2016

Transatlantic Record Chasing

CONGRATULATIONS are in order to Rougemont’s managing director who completed the Royal Ocean Racing Club’s (RORC) Transatlantic Race from Marina Lanzarote to Port Louis Marina, Grenada. Aiming ...

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6th December 2016

Quay Property

Rougemont is pleased to confirm the acquisition of a trophy, Grade A office building on a prime water front position on Newcastle’s Quayside, one of the city centre’s principal office locations. S ...

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18th November 2016

£8.5M West Yorkshire Syndication Completed

We are delighted to confirm the completion of our biggest syndicate to date with the Marshall Elland Syndicate’s purchase of Landscape House in Elland, West Yorkshire for £8.5m. The Property is a m ...

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6th October 2016

Thirsk Syndicate Completion

Rougemont is delighted to confirm the £800,000 purchase of a modern 9,361 sq. ft. Royal Mail sorting centre on a 0.67acre site on the Thirsk Industrial Estate. The purchase, by Rougemont’s Roya ...

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6th April 2016

Newport Syndicate Sorted

Rougemont completed the purchase of the Royal Mail Sorting Centre in Newport for £1.7m. A modern 21,713 sq. ft. sorting centre is situated in Newport City Centre, next to the Central Railway Station ...

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16th February 2016

New Appointment

We are delighted to welcome a new member to our team. Annelies Illingworth MRICS joins as Asset Manager for Harlow Property Management. Annelies assists James Craven with the day-to-day management of ...

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11th February 2016

Seven Benefits Of Property Syndication

Syndicated property investment provides investors with the opportunity of becoming part owner of a quality tenanted commercial property and receiving a pro-rata share of the rental income and any futu ...

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29th September 2015

Will the commercial property bubble burst?

There has been a lot of talk in recent months about a looming commercial property crash and horror story headlines like “London bubble set to burst” but, in reality, these scaremongering tales are ...

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9th August 2015

August ’15 Newsletter

Please click here to download our August ’15 Newsletter. ...

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30th July 2015

Five key insights from the UK’s top property investors

The national law firm Nabarro have just published their latest UK Real Estate research which interviewed 271 property investment professionals who together are responsible for portfolios worth more th ...

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26th June 2015

Property stocks limited but investment potential is overflowing

Cushman and Wakefield’s latest Quarterly Marketbeat report paints a promising picture for UK commercial property investment and shows, as many suspected, that the market has continued to strengthen ...

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26th May 2015

Investors can have confidence in commercial property

With increasing business confidence comes a growing appetite for commercial property investment. Businesses are investing, the economy is growing and that is translating to greater occupier demand. Cu ...

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28th April 2015

What are the secret ingredients for successful property investment?

Much has been said of late about New York reclaiming its crown from London as the world’s number one destination for commercial property investment. Granted, these two global giants constantly jostl ...

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9th April 2015

Commercial property investment rise continues in 2015

After a stellar 2014 that saw the recovery take hold, 2015 is already demonstrating that the property cycle is firmly under way. In the first two months of this year, transaction volumes are up 20% on ...

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27th February 2015

Five reasons why you should consider putting your pension in property

The fast-approaching pension reforms which will allow people to draw cash from their pension fund and spend it how they see fit are causing some concerns. Many fear people will take advantage of these ...

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16th February 2015

Politics, pensions and power playing on the mind of property investors?

The official results are in and 2014 saw the second highest investment volumes in history. Total UK investment hit £59.3bn and that figure was driven by volume of sales rather than huge single deals. ...

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6th February 2015

How should I invest the lump sum from my pension?

  In April of this year savers over the age of 55 will be given much greater freedom with the money they have poured into their pension funds for retirement. In a major pension reform unveiled by ...

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30th January 2015

Commercial property investors can be bold in 2015

This week I attended DTZ’s 2015 Outlook seminar which looked at commercial property investment in the UK and across the globe. The presentation revealed that UK commercial property investment reache ...

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16th January 2015

What does 2015 have in store for investors?

We can predict a lot about 2015 with certainty. There will be another Royal baby, the UK political merry-go-round will hit full spin in the run-up to the General Election and Top Gear’s Jeremy Clark ...

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1st December 2014

Commercial property investment continues to be a safe bet

Welcome to the first Investment Insight from Rougemont Estates. Through these updates we aim to provide an overview of the property investment market, pulling together data and research from a range o ...

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14th November 2014

Why I chose to invest in commercial property

Having sold a stake in his successful property firm Instant Offices, Rob Hamilton, who is also co-founder of rapidly-growing cycling tour business Ride25, turned to Rougemont Estates to find a safe ha ...

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30th October 2014

Finding value for investors in the syndicated commercial property market

After adding £10m of new acquisitions in the first half of 2014, taking the Rougemont Estates portfolio to £40m, managing director James Craven talks about finding “pockets of value” for investo ...

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1st August 2014

Unregulated investments: risk versus reward

Unregulated Collective Investment Schemes (“UCIS”) have been dominating the financial headlines over the past two years whilst the Financial Conduct Authority (FCA) has grappled with the lengthy p ...

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18th March 2014

Commercial Property Investment questions

What type of property should I invest in? What are the biggest commercial property investment challenges? How safe is commercial property investment? James Craven, the managing director of syndicated ...

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18th February 2014

Syndicated Property Investment questions

Who invested in syndicated property? How many people are involved in a syndicate? What are the risks of syndicated property investment? How can I sell my syndicated property stake? James Craven, the m ...

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14th January 2014

Commercial Property Investment rises in the regions

London is recognised as the world’s top city for commercial property investment, but we have seen a dramatic swing away from the capital in recent months. High-net worth individuals, major funds and ...

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16th May 2012

Property is a safe investment – Lord Oakeshott

After four years of hardship across the commercial property sector, investors could be forgiven for fleeing in droves from a “cyclical industry” that seems to have a flat tyre. Values have flatlin ...

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CONTACT


Office:
+44 (0) 1423 877910

Bowcliffe Grange,
Bowcliffe Hall,
Bramham,
Wetherby,
LS23 6LP

info@rougemontestates.co.uk

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