Alpha Pyrenees Trust is a Guernsey registered closed-ended investment company which invests predominantly in French and, to a lesser extent, Spanish commercial real estate.
Alpha Real Capital, an FCA regulated property fund advisory business, is Investment Manager to the Company.
The Alpha Real Capital team has a strong long-term track record, established across a range of real estate ventures with an established operating platform in France and Spain.
The Company generally targets properties with low vacancy levels, solid tenant covenant strength and good re-letting potential.
The Investment Manager seeks to secure income growth through a combination of inflation-indexed rents (which are a common feature in the French and Spanish commercial real estate markets) and an active letting and re-letting programme.
Active asset management
The Investment Manager will seek to enhance income and capital values where appropriate through the following:
- A space reconfiguration where under-utilised or inefficient areas within a building can be rearranged to provide more valuable space;
- A refurbishment and redevelopment where space can be modernised and the specification upgraded to create space which can command higher rents;
- A re-leasing, which has the potential to increase the rental income to an open market level, when this is in excess of the existing rent;
- A space creation by extending the building to meet tenant demand; and
- A change of use which can result in a higher value use for certain areas of a building or for entire properties