Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration 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 Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter