A market leader for more than two decades, LCP concentrates exclusively in the Private Rented Sector (or ‘PRS’), approaching residential property as what it calls a ‘commercial asset class’ — ‘the only’ company to provide a wholly integrated property service including sourcing and acquisition, development and interior design, letting and management ‘all under one roof’, says its investment director Hugh Best. He joined LCP in 2004 to lead its search and acquisitions before developing LCP’s first fund proposition, a role he maintains. Responsible for the financial models that quantify risks and returns in the funds, he performs detailed market analysis to direct investment strategies. As director of LCP Capital Investments, he is responsible for regulated marketing and promotions of the funds. Best has seen a ‘sea-change’ in HNW attitudes towards property funds: ‘Unlike commercial property which can demand a significant ticket to access prime assets, residential funds have always competed with direct acquisitions due to the lower barrier to entry,’ he says. ‘However, this is all changing with the government’s move to marginalise private landlords and incentivise institutional and professional funds to enter the sector.’ The ‘fair weather golfer and a foul-weather wind- and kite-surfer’ regularly travels to the Middle East, drumming up investment for LCP’s Shariacompliant funds. ‘For me, Kuwait City is unsurpassed for its architectural integrity,’ he says.
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