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K&C launch first residential REIT in London

K&C Reit(LON:KCR), the central London focussed real estate group, has launched the first residential real estate investment trust onto the AIM market. The CEO, Tim James, tells Proactive Investors that they want to be a five hundred million pound business and already have £40 million of deals in the pipeline.

K&C  has agreed to acquire Silcott Properties which owns several prime residential properties in Chelsea. The UK government recently extended the tax breaks for REITs to residential property and Tim James believes that a lot of developers and SPVs are currently unaware of the benefits of this new investment vehicle.

 
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