Bridges Property Funds
Bridges property funds invest in direct property or property-backed operating businesses, with a focus on growth locations, needs-driven sectors and value situations
We believe property investment can play a vital role in addressing social and environmental challenges – such as reducing carbon emissions and regenerating underserved communities.
We are currently investing our fourth vintage fund, Bridges Property Alternatives Fund IV.
Capital that makes a difference
By studying the long-term trends affecting our markets, our experienced team has been able to identify opportunities in growth sectors like healthcare, education and SME workspace – often well before the mainstream market.
We then draw upon our asset management expertise to drive value through physical, environmental and operational improvements – typically working with expert joint venture partners who share our philosophy.
Elmbridge Court is a 44,000 sq. ft. business park comprising 25 office buildings, located in a prominent position adjacent to the A40 between Cheltenham and Gloucester.
The Bridges Sustainable Property Fund bought Elmbridge Court in a £3.2m off-market transaction in 2011. Bridges then implemented a sustainability-led refurbishment of the property, installing photovoltaic solar roof panels across the site. These panels reduced the building’s carbon emissions by 60%, while also cutting tenants’ energy bills by 50%. The refurbishments, coupled with a strong marketing effort, led the property to go from 50% occupied at the time of acquisition to a 100% occupied at the time of exit.
Elmbridge Court business park near Gloucester was sold to Archimedes, a fund managed by M7 Real Estate, for £6m, reflecting a net initial yield of 9%.
Bridges has acquired a portfolio comprising 50 business centres offering a range of serviced office, light industrial and self-storage units.
The properties specifically cater for SME occupiers, with approximately 2,000 tenants currently across the portfolio. This investment will look to create additional workspace in existing buildings, supporting local business growth and employment.
There are a total of 21,692 workstations in the business centre elements and 1,420,000 sq. ft. of light industrial and workshop units. Bridges will look to improve the properties’ environmental performance, and will explore the possibility of tracking and reducing energy usage.
Bridges brought a new thought process about how to incorporate sustainability into buildings. They helped us open our eyes to the ways that sustainability can transform occupiers’ thoughts and aspirations, together with the financial benefits that go with that.Paul Jones, Managing Director, Evenacre