Merchant Property Unit Trust

Deal announcement - Merchant Property Unit Trust
March 2014
Clients of Connection Capital invest £5.8m of equity in deal to acquire majority stake
in Merchant Property Unit Trust, owner of a portfolio of UK trade park units let to UK
listed building merchants, Travis Perkins.
Connection Capital and Riverside Capital together with the
Cubic Property Fund, which is listed in the Channel Islands, have
acquired an 81.86% stake in Merchant Property Unit Trust “MPUT”
which owns a portfolio of 35 trade park units in the UK that are
let to building merchants, Travis Perkins. The remaining minority
stake is held by Travis Perkins and Colliers International.
The Connection Capital syndicate, which comprised 23 investors,
provided £5.8m of equity with the balance of £6.5m provided by
the Cubic Property Fund alongside senior debt of £21.695m from
Royal Bank of Scotland to refinance the portfolio.
The portfolio acquired under the deal totals 449,398 sq.ft.
producing an annual rent roll of £2.3m. The 35 units within the
portfolio are based in well established locations across the UK
and the investment will be monitored by Riverside Capital going
forward.
Travis Perkins is a FTSE 100 company specialising in the
builders’ merchant and home improvement markets, and is a main
supplier to the building and construction market. It supplies more
than 100,000 product lines to trade professionals and self-builders
from over 600 properties throughout the UK.
• Total funding: £5.8m
Advisers:
• Number of Connection Capital
clients: 23
• Legal advisers to Connection Capital - EMW Law LLP
• Legal advisers to Riverside Capital - EMW Law LLP
• Legal advisers to Merchant Investment Fund Limited Partnership
- Babbe
• Tax, Structuring and Financial Due Diligence advisers
- Grant Thornton
• Property Agents - Steerforth and Noko
• Investment date: March 2014
• Sector: Commercial property
Investment team
Claire Madden
Partner
[email protected]
Sue Heard
Partner
[email protected]
Steve Wilson
Partner
[email protected]
If you are interested in receiving information about future investment opportunities and are not yet a client of
Connection Capital, do please contact Claire Madden, Steve Wilson or Kate Goodall via the information provided below:-
Ivybridge House, One Adam Street, London, WC2N 6AB
t 020 7968 2755 e [email protected]
www.connectioncapital.co.uk
Connection Capital LLP is an appointed representative of Connection Capital Fund Managers Limited which is authorised and regulated by the Financial Conduct
Authority. Registered office One Eleven Edmund Street, Birmingham, B3 2HJ. Registered in England & Wales No. OC349617

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