Time Investments has launched a property fund investing in commercial freeholds for new hire Patrick Grant and managing director Nigel Ashfield.
Mr Grant has joined the property specialist asset manager from CBRE as acquisitions and portfolio director.
He will manage the new TIME:Commercial Freehold fund, Time’s second UK retail property product after its £230m TIME Freehold Income fund.
Time said the new fund would be the first long income commercial property fund available to retail investors as all previous launches had been aimed at institutional buyers.
The firm said the new fund would invest “in commercial freeholds with ground rents and commercial freeholds with long leases in the UK”.
TIME:Commercial Freehold has been structured as a property authorised investment fund (Paif), an increasingly popular tax-efficient structure for investing in property.