1. Set up with Charterhouse Bank (now part of HSBC) in July 1998 to acquire good quality, secondary shopping centres with growth and asset management potential.

    ashcroft roles included:

    • joint fund equity raising with charterhouse.
    • property identification.
    • managing property purchase.
    • joint bank debt raising with charterhouse.
    • asset management plan design.
    • asset management plan implementation.
    • full property management service.
    • managing fund sale.

  2. Equity and borrowing facilities of £110m (subsequently increased to £130m).

    £109m purchase price of 6 shopping centres.

    £151m fund realisation.

    22% equity IRR realised for investors.

    Exit in Jan 2003 initiated ahead of fund end date of 2005.

    Rent passing at purchase £9.9m rising to £11.4m at sale whilst ERV rose from £11.4m to £13.3m.