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.