Appian Burlington Property Fund secures MCSI investment award
Boutique fund has delivered return of 9.4% per annum compared to 7.65% market index
The headquarter premises of the Dublin & Dún Laoghaire Education & Training Board at Tuansgate in Tallaght is held as part of the ABPF portfolio
A boutique property investment fund run by Appian Asset Management and Burlington Real Estate has won the annual MSCI UK and Europe Property Investment Awards for Ireland. These awards identify the most successful property funds in markets across Europe and are recognised as one of the most significant awards within the property industry.
The MSCI was awarded for the performance of the Appian Burlington Property Fund (ABPF) for the three-year period to December 2019, during which it produced a return of 9.4 per cent per annum. This compared to the market index of 7.65 per cent per annum.
The ABPF is a specialist fund run by Appian Asset Management with property investment and management services provided by Burlington Real Estate.
The fund was established in 2016 and is valued at approximately €50 million. The fund invests in suburban office and retail and industrial and logistics properties. The focus is on properties located away from the premium business districts and city centres of Dublin and Ireland’s other major cities . The fund’s managers believe there is much greater value to be secured in these out-of-town locations than in the fiercely-competitive city centre locations that tend to dominate the investment markets.
The ABPF is fully-let with zero vacant properties. Based on current valuations the fund’s rent roll delivers an income return of 7 per cent per annum. The largest category of properties in the fund is suburban offices.
Burlington Real Estate chief executive John Bruder, who secures and manages the fund’s property investments, believes the fund’s performance is largely insulated from the impact of Covid 19. He says: “Our investments are typically located in the suburbs and away from the city centres. These locations are bearing up better than city centre locations in the context of Covid-19 and are likely to attract more interest from businesses and retailers in the months ahead.”
Patrick Lawless, chief executive of Appian Asset Management, said that in common with other property funds, the ABPF is currently closed arising out of Covid-19 but the situation is being monitored.