Following the success of fund 1, ashcroft and HSBC (charterhouse had been taken over by HSBC) launched fund 2 in July 2000 with a maximum life of 7 years.
ashcroft roles included:
Equity and borrowing facilities of £250m.
£134m purchase price of 5 shopping centres.
£176m fund realisation.
39% equity IRR realised for investors.
Exit in Jan 2003 initiated ahead of fund end date of 2007.
Rent passing at purchase £11.4m rising to £12.1m at sale whilst ERV rose from £13.1m to £13.9m.