Investment Date
Q2 2005
Exit Date
Q1 2020
(Fully Realised)
Asset Type
Roadside billboards
Revcap strategy
Portfolio build up /
Niche investment category
Revcap Fund
Revcap I / SHCP IV
Investment Type
JV Equity /
Platform Investment
Background and Opportunity
- Consolidate the extremely fragmented ownership base of freehold roadside billboards in the UK
- Create a long term income stream through leveraging strong relationships with billboard operators
- Upgrade assets to modern formats including digital screens
Transaction Progress
- Revcap partnered with the Insite management team to build up a portfolio of over 1,700 billboard panels through multiple acquisitions and developments executed across the UK
- Portfolio built to create a largely index-linked rent roll up to £16m with a WALT of over 15 years
- A substantial digital upgrade programme was carried out across the portfolio
Current Status
- Having grown Insite into the UK’s leading privately owned billboard landlord and investor, Insite was merged with its largest competitor backed by a US based private equity business
