Monday, 18 December 2017
It seems a little strange to be writing the last post of the year it has gone so fast, on one level it seems that the last quarter only recently started and on the other Christmas is most certainly upon us.
So much has happened and it has been a good year with great success thus far for Oxford Spires REIF LP. Accounts are in on this one and we are sat at a capital gain of over 30% and a NET yield of just over 6% which; I am told is a very nice bit of festive cheer for our limited partners. Looking back this year we have achieved some of our core beliefs. We are still not charging full market rents to end users of our products – which means our occupancy is solid and additionally – now that – rents are dropping keeps our projections solid when many others are coming back not as good as expected (we are being polite)!
The end of the year does bring some other “endings” as such as Non Executive director William Addis is stepping back after helping guide us through the first three years and has proved invaluable, it has been emotional my friend. Nothing less than I expected after 25 years experience as MD of the number .1. private housing developer! His legacy here will live on and his contacts have now become ours too. Many, many thanks Bill!
I sincerely hope that all partners, suppliers and end users of our products have a wonderful end of the year and a very enjoyable festive period and thank you all for your support and business.
I very much look forward to continuing to deliver in as many areas as possible in 2018.
Oxford Spires Group