Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Property tycoon readies Reit holding Madame Tussauds and Alton Towers

1 Comment
Property tycoon readies Reit holding Madame Tussauds and Alton Towers

Nick Leslau, a member of the Sunday Times Rich List 2014, is planning to launch a new real estate investment trust (Reit) next month.

The Secure Income Reit is expected to list in early June and will target an inflation-protected yield from property investments.

It will be managed by Leslau’s Prestbury Investments firm, with an initial eight-year lifespan. Prestbury is expected to retain a stake of around 26% in Secure Income after it floats.

Upon admission, the fund will own a freehold portfolio of 28 assets independently valued at £1.5 billion. Its properties include Madame Tussauds in London, the Alton Towers theme park and hotel (pictured), Thorpe Park, and 21 private hospitals in the UK.

The trust will be chaired by former M&G Real Estate chairman Martin Moore, who also advises Kohlberg Kravis Roberts on European real estate.

Secure Income has yet to reveal how much it hopes to raise at the initial public offering.

Leslau came joint 367th in this year’s Sunday Times Rich List with an estimated worth of £250 million, up from £200 million in 2013.

He also manages the £345 million Max Property Group, which owns interests in St Katharine Docks and the High Holborn Estate. Shares in Max, a growth rather than income vehicle that launched in 2009, have gained 16% over the past year while the FTSE All Share index has risen by 1.5%.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Play CIO Tapes: do investors have it as good as it gets?

CIO Tapes: do investors have it as good as it gets?

Citywire gathered three of the UK's leading fund investment heads to discuss what they fear and what makes them cheer about the year ahead

Read More
Your Business: Cover Star Club

Profile: from managing Brunei’s billions to Dorking’s pension pots

Profile: from managing Brunei’s billions to Dorking’s pension pots

Mole Valley Asset Management's boss on why he chucked in multi-billion mandates for Surrey wealth management

Wealth Manager on Twitter