Asset advisers, London Central Portfolio, have announced a 3-week extension to buy shares in its latest property investment fund, London Central Apartments III (LCA III), which invests in Prime Central London’s Private Rented Sector (PRS). 
It will be open for subscriptions until July 25. LCA III presents an opportunity to subscribe for shares in a quoted investment company holding around 50 high performing rental properties.
According to LCP, with the UK’s vote to leave the European Union, Prime Central London (PCL) real estate is expected to benefit from a flight to quality with the security of blue-chip tangible assets being underpinned by a weak pound and a widely anticipated cut in interest rates on July 14.
Naomi Heaton, CEO of LCP said:  “There is every reason to anticipate an influx in investors following the unexpected ‘leave’ vote. Notwithstanding the Referendum, the fundamental attractions of PCL as a centre of culture, excellence and education and as a beacon of democracy with absolute rule of law and unequivocal title to property are still very much in place.
“Despite the negative market outlook being reported for the UK, it is now an opportune time for both foreign and British investors to look at PCL. Prices had cooled, pre-EU referendum but given the current tailwinds and the long term fundamentals for the PRS, there is little doubt that prices will now harden, providing significant upside for the strategic investor.”
This year, Brexit uncertainty has driven Sterling to lows not seen since the global credit squeeze.  USD denominated investors, such as those in the Middle East have been enjoying discounts of over 1/5, more than cancelling out the recent increases in UK property taxes.
LCP notes that the EU has played a relatively limited role in attracting international capital to the London property market. According to LCP’s latest audit, only 12% of buyers are from Europe. An unlikely wholesale withdrawal of this sector would thus have very little net effect on property prices as a whole.
Since 1990, LCP have treated Prime London Central residential property as an alternative asset class. With $1bn of assets under management they have launched multiple funds in this field. LCP source on and off-market investment opportunities, refurbish, interior design, let and manage properties in London’s premier addresses. LCP is the first company to have advised on Shariah compliant structures targeting this market in the UK.
According to LCP, capital growth in London Central has averaged over 9% per annum over the last 15 years, even taking into account the short downturn during the credit crunch.  This represents a doubling of value every eight years.
Gross annual rental returns are in the region of 4.0%, taking rent vs capital expenditure (purchase price and renovation costs).
Growing international demand and the shortage of stock (there are only about 100 transactions a week) continues to underpin price growth.