Barwood Capital reaps rewards of a hands-on approach

first_imgJoanna Greenslade says Barwood have a hands-on approach in the MidlandsBarwood Capital has a strong focus on development, which has helped bolster the returns it has delivered for investors. The first fund delivered returns of 12% a year over five years, the second 15% and the third is also on track to deliver returns of almost 16%.The firm prides itself on taking a hands-on approach. Greenslade says: “It’s easy for a fund manager sitting in London to have quite large portfolios where they don’t have the time, instinct or understanding to go out and speak to their current or prospective tenants in person, whereas we do build and maintain those relationships. That’s one of our fortes – a more personal approach.”Although the firm does some development work in-house, when operating outside the Midlands, it typically works with other developers and even in the Midlands, it is happy to back others on the right deal. For example, it is funding a 100,000 sq ft warehouse that has been speculatively developed by First Panattoni.“It’s a great example of an institution dropping the ball after the Brexit vote. An institution had it under offer with First Industrial [now First Panattoni] but got cold feet and we picked up the funding position,” says Brogden.Industrial focusThe Birmingham deal was completed on behalf of Barwood Capital’s third fund, which had a strong focus on industrial, something that is set to continue with the new fund. If anything, the weighting to industrial will be even higher for the latest fund.Greenslade says she feels confident about the rental growth outlook for the industrial market but would be surprised to see further yield compression.Resi-only fundAnother area of increased focus for the firm is the residential market, where it works exclusively with third-party developers. Currently, it is working with six developers to build around 200 homes with a gross development value of about £80m. That is likely to increase significantly in the years to come if plans to launch a residential-only fund come to fruition.“Our next step is to do a resi-only fund,” says Greenslade. “There are a lot of development managers that are missing an equity slice who approach us directly or who are referred to us through Close Brothers who we bank with. We have a great pipeline of resi opportunities.”“Our next step is to do a resi-only fund – we have a great pipeline of resi opportunities”Joanna Greenslade Book your place for RESI Convention 2018 to join the debate on opportunities within the resi sector Dynamic duo: Guy Brogden and Joanna Greenslade of Barwood CapitalFor a real estate fund manager that is focused on the regions, she argues that this gives it an advantage over London-based managers.“Our base is firmly in the Midlands and that’s one thing we pride ourselves on,” says Greenslade. “You need to spend time in London, but the real USP of our business is deal-sourcing. And for that and to manage assets effectively, you need to be on the ground.”Until recently, Barwood Capital shared offices with db symmetry, the logistics developer created in 2015 as a joint venture between Barwood Developments Limited (BDL) and Delancey.Make sure your views are heard in 2018’s logistics censusBarwood Capital itself was founded in 2009 by the directors of BDL, which effectively acted as the development manager for the firm until db symmetry was created. Since then, Barwood Capital has become more agnostic about who it works with and now teams up with a wide range of developers on projects as well as using its own in-house team.It has also grown significantly in that time. Last year, the business moved a mile down the road into new offices, which are almost double the size of the old one. “We were bursting at the seams,” says Greenslade.The new offices will be a launch pad for Barwood Capital to further accelerate its growth. Over the past year, the company has already made its intentions clear by making a string of key appointments.Last summer, it installed former Mayfair Capital chief executive Guy Brogden, who was already on the board as a non-executive director, in the newly created role of executive chairman. It then strengthened its investment team by hiring PropSki founder William Chambers from JLL as investment director and earlier this year, Hugh Elrington, who was head of UK transactions at Rockspring, joined as a board member and head of property.Broadened investor baseElrington’s arrival coincided with another milestone for the firm. At the same time, it closed its fourth fund raising £76m of equity – with leverage, the five-year fund will have the firepower to invest about £150m. Since the launch of the first fund in 2009, which was backed by high-net-worth individuals in the Northampton area, Barwood Capital’s funds have increased in size and the investor base has also broadened.“In the new fund, we have a lot of new investors, Merseyside Pension Fund for example, and a large number of high net worths who see this as a unique opportunity to get into property development,” says Greenslade.center_img Barwood is converting Riverside House in Northampton into student accommodationAnother sector that Barwood Capital is planning to focus on more is alternatives. At the end of last year, it secured outline planning permission for 400 units of nursing or student accommodation at Riverside House in Northampton, which is located next to a hospital and a new university campus, and is on the lookout for other similar opportunities.At the same time as the firm looks to increase its investment across industrial, residential and alternatives, it is planning to selectively invest in the office sector. Greenslade says that office occupational requirements are not “as forthcoming” as they were before the Brexit vote but that there are still good investment opportunities to pursue.However, despite her concerns about Brexit, Greenslade is still upbeat about the outlook for real estate, citing the large gap between property yields and bond yields. She also believes that the firm’s focus on parts of the market that are underpinned by “structural change” will serve it well as it looks to accelerate its growth.last_img read more

Read More »

National Welders to become wholly owned subsidiary

first_imgGet instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270. Subscribelast_img

Read More »

Linde nitrogen liquefier on-stream

first_imgSubscribe Get instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270.last_img

Read More »

Prisoners have talent

first_imgSingers Lungu Tubu and Asanda Makhaba were among the 21 finalists in the UR Slam Factor Talent Search. Lunga Tuba landed behind bars after breaking into a house, but last week at a Pollsmoor Prison talent search, he was breaking into song. About 400 guests attended the UR Slam Factor Inmate Talent Search, featuring 21 different performances, at the prison’s recreational hall on Friday April 21. The competition is the brainchild of Shirley Paulse, of the Tokai-based NGO Women in Action, and is part of a rehabilitation programme for Pollsmoor prisoners.In December last year, Pollsmoor area commissioner Clifford Mketshane described how Ms Paulse had helped with the renovation of Block B of the women’s prison, freeing up 270 beds and doing repairs. “A lot of people don’t like that we are helping prisoners, but the way I see it is one less murder, one less break-in. A lot of people in here want to change their lives,” said Ms Paulse.She received 1 200 applications for the talent search, including dancers, singers, poets and actors. One of them was Tuba, 26, who broke into song with his big voice reminiscent of Luciano Pavarotti.Having grown up in Hermanus he came to the big city in search of a career in classical music and ended up homeless and singing a cappella for coins in Sea Point.One cold winter night, he had not made enough to cover the cost of a bed in a hostel and broke into a house. He has now been in Pollsmoor for seven months and has two more years left on his sentence. “In here, I’ve met people who’ve helped me further with my singing. I’d like to continue doing what I’m good at when I get out and see where it takes me. I would need help to make a success,” he said.Asanda Makhaba, 25, from Durban was convicted of drug trafficking and sentenced in 2014 to 12 years, most of it spent in Johannesburg Prison. From supporting her mother and two brothers, growing up singing opera, gospel and singing in choirs in Guguletu and Nyanga, temptation got the better of her after meeting a wealthy businesswoman. Wanting what she had, she flew to Brazil to become a drug mule. “In prison, I’ve learnt to be content with what I have, which is more than some people who have nothing. Love of money, greed, took away the little I had,” she said. For the competition, Makhaba sang Amazulu by Amanda Black.Mr Mketshane says the competition has been a great success so far. “It’s a platform to showcase what offenders can do, to display their inner hidden talents and also to uncover what they never knew they had. To show society that people can change,” he said.He spoke of young woman serving an eight-year sentence for murder. “She wrote a heartbreaking poem, a confession, titled What Made Me Who I Am, of how she was abused and got into Satanism.“Offenders are victims; I cannot deny that they have done wrong things in society. But if you scratch down a bit, you will realise there is no one in this world who is more dangerous than a victim.” To hear Lunga Tubu singing O Sole Mio, visit www.iol.co.za/athlonenews/last_img read more

Read More »

MPs urge government to preserve access to European legal services market

first_imgPreserving access to the single market in legal services is among the reasons why the government urgently needs to set out a vision for trade with the EU following Brexit, MPs say today. In its first report, the International Trade Committee of the House of Commons backs re-joining the European Free Trade Association (EFTA) to preserve continuity in trading relationships. The report cites evidence from the Law Society on the legal services sector. The Society told the committee that while the EU single market in services is still ‘a work in progress’, in legal services a single market is already a reality.Mickael Laurans, the Society’s head of international policy and engagement, told the committee that the continuation of the participation of the UK legal services sector in the two EU lawyers’ directives and the mutual recognition of qualifications directive was a ‘key ask’.Leaving the single market would render the UK vulnerable to restrictions on legal practice that vary among member states. Some EU jurisdictions operate nationality requirements, Laurans noted, while right of audience before EU courts could be lost by UK lawyers. There might also be problems regarding clients’ ability to benefit from legal professional privilege.The committee says the government must act quickly to bolster confidence and put the UK in the best position to forge new trading relationships after 2019.Among its recommendations is for the government to publish a white paper about the possibility of the UK re-joining the European Free Trade Association (EFTA).EFTA, whose current members are Iceland, Liechtenstein, Norway and Switzerland, has free trade agreements covering 38 countries, which the UK might stand to benefit from if it were to re-join. According to the report, the committee ‘was impressed by the potential benefits of EFTA membership, given the close alignment between the UK’s economy and those of EFTA members, although the government has not proposed this as an option’.last_img read more

Read More »

AG’s office pays men £25,000 more than women

first_imgThe attorney general’s office is one of Whitehall’s worst offenders in terms of gender pay parity, according to research by the Guardian newspaper. Women civil servants at Jeremy Wright QC’s department are paid an average of £36,250 while men get £61,240, according to analysis of data from the Office for National Statistics.The AGO has relatively few staff (about 40) and therefore small movements can skew the statistics, the research acknowledges. Yet the gap has widened by 18 points in the last decade, to 41%.A spokesperson for the office said: ’In a very small organisation like AGO, minor changes in staffing can lead to significant changes in percentages so we do not believe too much can be read into these statistics. We are strongly committed to diversity: our two most senior members of staff are women and over half of the Executive Board are women.”The AGO has recently appointed a diversity champion and said it has policies in place to encourage female applicants for roles and to ensure equal treatment of candidates.The average gender pay gap across all government departments and agencies is 13% (with men earning an average of £28,280 and women £24,680). The Ministry of Justice doing slightly ‘better’ at 11% (excluding agencies).Since 2008 the pay gap has widened at 23 of 97 government departments or bodies. These include the Supreme Court (14% wider).A Cabinet Office spokesperson quoted by the paper said: ’The most recent ONS report shows that overall, the civil service gender pay gap has narrowed, but in small organisations it is very sensitive to minor changes in staffing. The pay gap is affected by differences in seniority, profession and regional distribution of staff, which can be very different across departments and are not controlled for in the raw data.’In autumn this year we will be launching our new diversity and inclusion strategy, which outlines plans to achieve our aim of becoming the most inclusive employer in the UK by 2020. The strategy will set out how we will continue to improve the gender balance of the civil service at all levels.’last_img read more

Read More »

Sochi’s swallow starts to fly

first_imgRUSSIA: Trial running has started in Sochi with the first of 38 Lastochka EMUs being supplied by Siemens in time for the 2014 Winter Olympic & Paralympic Games. The multiple-unit was due to be presented to RZD Vice-President Valentin Gapanovich and Transport Minister Maxim Sokolov by the head of Siemens Mobility Hans-Jörg Grundmann ahead of the 1520 Strategic Business Forum taking place at the Black Sea resort from May 30 to June 1.To date Siemens has delivered three of the five-car Desiro RUS sets to Russia. Two are being used for technical acceptance and EMC testing, while unit 002 has started driver training and commissioning trips between Sochi and Adler. Formal acceptance is anticipated in November, with the first trains entering revenue service by the end of this year.The EMUs are designed for dual-system operation. The existing main line between Sochi and Adler, which is currently being double-tracked, is electrified at 3 kV DC, as is the recently-opened 2·7 km branch from Adler to Sochi Airport. The 48 km line under construction from Adler to Krasnaya Polyana, which will serve the Olympic venues at Alpika-Servis, will be wired at 25 kV 50 Hz.Some Lastochkas will be used Kazan next year when that city hosts the World Student Games, and 38 sets are expected to be in traffic for the Olympic Winter Games in 2014. They will operate at 5 min headways at peak times, offering a capacity of 12 000 passengers/h. Following the games, some sets will be redeployed on airport express services around Moscow, whist others will be retained by the North Caucasus Railway for use around Sochi.The first of 16 locally-assembled sets being supplied by the Train Technologies joint venture of Siemens and Sinara is now expected to be delivered in the third quarter of 2014. RZD is planning to buy up to 1 200 vehicles in suburban and inter-regional configurations, with both five- and 10-car sets envisaged.last_img read more

Read More »

CARICOM SG says regional body benefits greatly from Jamaica

first_imgThe Caribbean Community (CARICOM) has greatly benefited from the commitment and dedication of the Government and people of Jamaica, Secretary-General Ambassador Irwin LaRocque said Monday as he extended congratulations on Jamaica’s 56th Anniversary of Independence.“Over the years, your country has contributed significantly to the integration movement and I look forward to continuing this strong track record of dedication to regional integration with you and your administration,” he said in a congratulatory message to Jamaica’s Prime Minister Andrew Holness, who became CARICOM chairman on July 1.Critical time for Holness as chairman Ambassador LaRocque noted that Prime Minister Holness’ assumption of the CARICOM chairmanship came at a critical time, as the regional bloc continues to be confronted by many challenges in its quest to build resilience. “I look forward to working assiduously alongside you and your government to further realize the aspirations of the Caribbean Community,” he said.Jamaica is marking its independence anniversary under the theme, ‘Jamaica 56: One Love, One Family’.“The Community joins with the Government and people of Jamaica in celebrating this landmark and wishes the country continued success in its path to sustainable development,” the Secretary-General said.last_img read more

Read More »

Strand Adds Barry Industries, DEC-TAM, MECA and Cornell Dubilier to Client Roster

first_imgStrand Marketing, an award-winning business-to-business (B2B) marketing and advertising agency, is pleased to announce the addition of four new clients to their roster of business-to-business customers this quarter. Headquarted in Attleboro, MA, Barry Industries is a leading provider of microwave resistors and terminations. Together with their Semiconductor Enclosures division, the company is looking to Strand for strategic marketing direction, brand strategy and a website redesign. DEC-TAM is an environmental remediation company based in North Reading, MA. This successful business has connected with Strand for a new brand strategy and a targeted direct marketing campaign promoting their highly sought after PCB remediation services. MECA of Denville, NJ, is a proud American manufacturer of some of the highest quality RF passive components in the business. A new ad campaign has been kicked off and will initially feature their expertise in providing high performance components to the burgeoning distributed antenna system (DAS) market. Cornell Dubilier, a New Bedford, MA manufacturer of capacitors has engaged Strand to create a new campaign for their DC Link capacitors, which are primarily employed in solar inverters. For more information please visit http://www.strandmarketing.com.last_img read more

Read More »

Argos Fall 12-6 to North Alabama in Game Two of GSC Tournament

first_img   CLEVELAND, Miss. –  The University of West Florida baseball team fell to the bats of North Alabama 12-6 in game two of the 2010 Morgan Keegan Gulf South Conference Tournament. The Argos grabbed an early first inning lead but could not hold off the offensive power of the Lions as they pounded out 18 hits in the contest. After pulling within one late in the game the Argos surrendered five unanswered runs to fall 12-6.Kyle Brown led off the game with a base hit, the first hit West Florida has got off Lion’s starter Trey Mitchell this year. Earlier in the season Mitchell tossed a no-hitter against the Argos in a 3-0 win for North Alabama. The Argos added two more hits in the inning off Mitchell, a RBI single from Zach Cates and a two-run single from Greg Pron to give them a 3-0 lead.Argo’s starter Jason Postill held off the Lions for the first two innings but then ran into some trouble in the third. After striking out the first batter of the inning the Lions then knocked five base hits in the inning, including a two-run single by Josh Cyr to give them a 4-3 lead. In the fifth the Argos re-took the lead with a two more runs on RBI singles by Tyler Hastings and Jack Materne. The lead would be short lived as the Lions put up three more runs in the bottom half of the inning to take a 7-5 lead. After a run in the sixth from the Argos pulled within one but the Lions once again responded back in the bottom half of the inning on a solo homerun by Jacob Lamar. The game would get out reach in the seventh as they tacked on four more unanswered runs, going on to take the game 12-6.With the loss the Argos fall to 34-17 overall and will now have to battle a tough road to a conference championship. They will take on Alabama-Huntsville in at 9:30 a.m. CT in an elimination game.For more information on Argonaut athletics or to follow along with live stats, fans can keep up with the action at www.GoArgos.com.Print Friendly Version Photo courtesy of Kim Hastings Sharecenter_img Argos Fall 12-6 to North Alabama in Game Two of GSC Tournamentlast_img read more

Read More »