Westbury to launch property product

Westbury Asset Management has launched an investment trust investing in commercial property aiming for a yield of 8% a year for its income share class. The Westbury Property Fund Limited trust will issue two classes of shares, income and capital, and hopes to achieve a size of £245m, including bank debt of up to £145m. The trust will aim to create long-term income growth and capital appreciation through the acquisition of high quality UK property portfolios. It will invest predominantly in a balanced commercial property portfolio with the flexibility to invest up to 10% in venture...