Prestigic Holdings

Prestigic Holdings Ltd was established by Adrian Goldsmith and Rotch Property Group in 1993 and since then the portfolio has steadily expanded throughout the UK and Europe (having bought out Rotch in 1997).

The company is primarily a commercial property landlord albeit develops small number unit residential schemes in the United Kingdom and Ireland. Prestigic now owns directly, or within joint ventures, a property investment portfolio in excess of £20 million.

The portfolio encompasses retail, offices, industrial and leisure properties, as well as investment in the alternative sectors. Prestigic also provides residential development funding by way of the Equity Fund. The Equity fund finances developers and site owners and also provides mezzanine finance for income producing portfolios. The Equity Fund will also provide finance for interesting riskier situations with/without planning consent.

All profits are recycled into building up the retained rental cashflow portfolio and where solid covenants and fixed rental uplifts on new (or substantially refurbished) buildings have always been important investment criteria for the portfolio. Tenants include; Angus Council, Renfrew Council, Starbucks, Waterstones and the Co-op.

In addition, the company is gathering an increasing reputation for its involvement in development funding, most notably for the National Assembly for Wales in Merthyr Tydfil. In fact, this 85,000 sq ft scheme (£13 million) is a prime example of Prestigic’s innovative thinking, this being one of the first “income strip” deals of its type.

Prestigic Finance continues its acquisition of amortising cashflow/income deals where the reversion is, or can be, left with the vendor. Transactions include deals with the Welsh Development Agency, Bridgend County Council and Shell. Adrian Goldsmith himself has concluded over £90,000,000 of such transactions.

The company remains committed to expanding the portfolio directly and also through joint ventures and the promotion of the Equity Fund. We will also continue to acquire high quality assets in locations in the UK where there is potential for future rental growth and asset management opportunities. The company specialises in purchasing from developers via forward commitments which can include interim construction finance. Sale and leaseback transactions are of particular interest.

Prestigic’s finance is provided to Fortdene Ltd (the main investment subsidiary) and Prestigic Finance Ltd, mainly by Santander Bank/Norwich & Peterborough Building Society and Aviva to for cash flow acquisitions concluded with Allied Irish Bank and Nationwide Building Society.

Prestigic’s joint venture partners in the past have included Consero, Wilcon, Norwest Holst and St Andrews Developments. Additionally, Prestigic combined with the insurance company, Invista, in connection with a £60 million package of 9 nursing homes.

Prestigic has recently sold a package of properties and is now seeking to reinvest the significant profit proceeds.