Schroders and Local Shopping REIT Launch Retail Fund
Local Shopping REIT Plc, a UK-REIT, is launching Local Retail Fund, a £60 million (€72 million) unlisted fund to invest in convenience retail stores. The fund will be managed by Schroder Property and will be exclusive to Schroder Property Multi-Manager clients.
“Local Retail Fund will be available to our segregated mandate clients and will be a significant holding for our Real Income Fund, which targets resilient income streams and tenants with pricing power in an environment of modest economic growth,” says Graeme Rutter, co-head of Schroder Property Multi-Manager.
Local Retail Fund will focus on convenience retail stores in the United Kingdom, such as Tesco Express and Sainsbury’s Local.
“Tenant demand for convenience and local shopping assets from both national operators — i