British Land 'to manage £300m buy to let fund'

14 January 2010

Written by Michael Aglony

Changes could be seen in London's buy to let market after it was announced that British Land is to manage a buy to let fund worth £300 million.

Law firm Charles Russell has created the CR Property fund, which will be launched today (January 14th).

A stake of this will be owned by British Land, and prime real estate in London will be purchased by the fund.

CR Property Advisers is run by Richard Crosthwaite, who said the company will mainly purchase properties worth £500,000 to £800,000.

"This steps into a gap caused by the disappearance of buy to let investors. This is a move to a more US-style service for tenants – giving a five-star landlord service to three or four-star properties," the Financial Times reported Mr Crosthwaite as saying.

British Land states that they have a portfolio of assets in prime locations across the UK and Western Europe.

Some 66 per cent of this is made up of retail assets and offices in Central London make up 31 per cent.

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