Property asset management firm launches with seed capital to target £250m funding

From left: Anna Clare Harper, Damien Fogg, Ruth McCarthy

A new algorithm-led property asset management business, SPI Capital, has launched after securing seed funding for £250m PRS investment.

SPI Capital has offices in Manchester and London.

It will target investment in 3,000 flats and houses across the North West and the Oxford-Cambridge Arc.

Underpinned by market-leading technologies, it aims to transform the way investors access stable, hands-off returns from residential property while providing quality key worker housing.

Anna Clare Harper, SPI Capital chief executive, said: “The global pandemic has highlighted an opportunity to help deliver quality housing for key workers, whilst delivering sustainable returns to investors, through focusing on a resilient asset class.”

She added: “The investors we work with want to be able to support a vital section of the country’s labour force, without compromising on financial returns.

“They recognise that quality residential property rented at a fair market price makes commercial sense, and offers a ‘win-win’.

“The PRS investments we focus on have delivered 95%+ rental income take vs <50% to many commercial property investments in 2020.”

SPI Capital is spearheaded by three real estate specialists – Anna Clare Harper is a real estate strategist and author, managing director Ruth McCarthy is former head of real estate at a top 100 UK law firm, and chief information officer, Damien Fogg, is a Chartered Building Surveyor and former financial advisor.

Together, the trio has delivered more than £4bn real estate transactions and managed upwards of 5,000 properties.

Their experience spans law, risk management, institutional investment, financial advice, restructuring and strategy, advising global banks, institutional investors, private equity firms and public bodies.

Ruth McCarthy said: “The residential market has continued to perform well throughout the last 12 months, particularly in the North West – there’s no doubt that residential property will continue to be a core part of investor portfolios.

“However, the growing regulatory burden will mean that fewer people will be willing – and able – to invest on an individual basis.

“By offering a professional, end-to-end service we can support investors who want to preserve and grow their wealth through property without the time commitment and effort required.”