Firms team up for London-centric residential property fund

The Nice Residential III IC fund will purchase below market value properties that become available in the current stressed markets and in particular those properties being offered by distressed sellers. Returns will be maximised through conversions and multi-letting the properties. The fund aims to return 15pc+ net of fees, with an annual volatility target of 5pc. Mrtin Skinner, CEO of Nice Capital, said: "It's a counter cyclical, opportunistic fund. We can make excellent returns by purchasing property at levels below market value due to markets under stress, and moreover, it is an opport...