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Long Harbour Income Fund
The Long Harbour Income Fund ("LHIF") is an institutional fund focused on delivering high quality residential homes for rent. With a demonstrable track record since 2013, LHIF provides our institutional investors with the tools and expertise required to overcome sector barriers to entry and access the growing UK Private Rented Sector ("PRS") market as well as delivering places where people want to live.
For our investment and delivery partners we focus on early engagement, design standards, and delivering on our promises.
Innovative, flexible and cutting edge design solutions are vital to meeting resident lifestyle requirements and service level expectations, optimising and preserving investment value in the long term. We look to apply the LHIF brand standard across the portfolio, including for the non-purpose built PRS assets to the extent this is possible.
Our brand standard has been developed to ensure a consistent approach to designing and delivering quality places where people want to live.
LHIF provides high quality and thoughtfully designed, fit for purpose properties professionally managed and well maintained with a focus on customer service quality and first-rate facilities geared to supporting tenant lifestyle and enjoyment and proven to drive occupier demand and retention, optimise rental potential and ultimately deliver superior returns to our investors.
Our innovative management platform is set up to safeguard LHIF service standards and brand promise and aims to simplify the leasing, moving and occupational administration of renting, in tandem with driving operational efficiency by re-forging the way buildings are run, with an accent on:
- Staff customer service, ownership and budget responsibility
- Intelligent procurement and signature framework key supplier contracts
- Streamlined tenancy management processes underpinned by a powerful IT platform to support communication with tenants, monitor asset performance and ensure fund operational oversight
Our core investment strategy is to work in partnership with key development partners, contractors and landowners with a focus on:
- Forward fund development of new purpose-built residential for rent
- Off plan residential opportunities
- Minimum investment size: £20m
- Minimum number of units: 150+
We also actively look to acquire existing freehold residential (unbroken) blocks and portfolios of residential flats and houses for rent, minimum number of units 50+
Why do we focus on PRS?
The characteristics that make PRS suitable for institutional investment are driven by the following factors:
- Historical and expected increases in demand for private rented accommodation
- Demographic shift towards renting vs. property ownership
- Rental stock demand and supply mismatch across the UK
- Historical return and risk reward profile of residential real-estate
- Inflation linked income streams
Our ability to develop strong relationships with experienced developers and identify and present to our investors a pipeline of off-market investment opportunities with strong income streams is generating significant interest from other institutions.
An early entrant into the UK PRS market, LHIF has adopted a robust and rigorous approach to sourcing and delivering opportunities within the sector. Long Harbour has invested in excess of £355m in the private rented sector over the past 4 years in a number of keystone assets across the UK, consistently delivering on its investment targets and profiled returns.
Initially, LHIF targeted operational residential properties such as, One Eighty in London, Skyline 2 in Manchester and the Bridge Portfolio in the South East. Through these transactions, we have demonstrated an ability to identify assets, including delivering multi phased construction projects and developing an asset management platform to underpin the portfolio operations.
With limited opportunities to acquire existing PRS stock in the UK and an increasing demand for residential accommodation for rent, LHIF is bringing its experience in PRS to bear in the Build to Rent ("BTR") space and has the capability and experience to proactively engage, influence and create value across all stages of the design and delivery process. In November 2016, LHIF finalised a forward fund acquisition and construction of The Lansdowne at 2 Hagely Road. Working with key development partners, landowners and contractors LHIF has a flexible approach to forward purchasing and forward funding BTR schemes in core locations throughout the UK.