THE entrepreneurial property specialist Wrenbridge has effectively called the bottom of the market by launching a multi-million pound spending spree on regional investment opportunities.

THE entrepreneurial property specialist Wrenbridge has effectively called the bottom of the market by launching a multi-million pound spending spree on regional investment opportunities.

It follows the launch of the �160million Palmer GVA Property Fund LP, a joint venture between Palmer Capital Partners, the property venture capital provider and fund manager, and UK property consultants GVA Grimley Limited.

Wrenbridge, being partly owned and backed by Palmer Capital Partners, now has access to the money and is looking to acquire office, industrial and retail property up to a value of �10million per investment. It will also look at forward commitment opportunities and act as asset manager on successful acquisitions.

Wrenbridge will focus on quality buildings in proven locations, though in certain instances such as high street retail, shorter leases will be considered.

Jamie Hockaday, main board director of Wrenbridge said: “We believe that the forthcoming cycle represents the best opportunity for a generation.

“There is evidence to suggest that the bottom of the market has been reached for more secure, good quality assets and with yields at such high levels for UK commercial property there is a unique opportunity to buy into the market.

“We are looking for property with quality tenants, typically with a minimum 13 years remaining on the lease.”

The Palmer GVA Property Fund's strategy is to source a balanced investment portfolio of good quality assets which can deliver a strong income return and the opportunity for capital growth over the five-year life of the fund.

Investors in the fund include clients of ING Real Estate, Aviva Investors, Henderson Global Investors and around �7million of private funding including �2m personally by directors of Palmer Capital and GVAG.