Close Property portfolio

Close Property Investment is launching a fund offering up to 7.5% initial commission. The portfolio of Quartet will include 13 properties consisting of a mix of office space, shopping centres and warehouses, spread across Scotland, the Midlands and the South East, with a total value of £96.6m. The group will initially borrow 85% of the purchase cost, equivalent to £82.11m, from Halifax Bank of Scotland, which will also contribute 48.5% of the fund's equity. In addition Close is looking raise up to £10.5m from the retail market. The portfolio will be run by Catalyst, a property managem...