Key Statistics

Initial investment

October 2004

Exit Date

August 2007

Revcap Equity Invested

£9 million

Case Study: JV Equity – Chancerygate Business Centres Portfolio

Business Plan (at inception)

Acquisition in joint venture with the Chancerygate Group of nine land parcels principally in and around central London with a view to obtaining planning permission and developing small industrial units for onward sale to owner occupiers.

Business Plan Outturn

Planning permissions generally obtained without undue problems. Delays in obtaining utilities connections extended the timeframe slightly but overall profit was higher due to better performance on sales in part through forward selling 6 estates to investors prepared to take a speculative leasing risk.

Revcap Commentary

Satisfactory outturn in comparison with business plan. Having capitalised on the market window, Revcap decided not to back further schemes as competition was increasing in the UK small industrial unit market place.