Lightstone Properties PLC

Lightstone is a private property trading company investing in the UK commercial property market.

Assets under management of £30 million
60 private shareholders and joint ventures with private investors, property companies and funds
Mixed commercial portfolio of properties, including shops, offices, industrial and motor retail
Strategy to create capital gains from strategic purchases and active asset management
Portfolio with a range of added value initiatives

Lightstone Properties plc was established in 2003 by Astrid Cruickshank, who is the MD of the company and the investment manager to the portfolio. The portfolio was acquired over the following 6 years with the aim of creating capital profits from trading and added value initiatives.

The portfolio has performed well achieving a total return of over 17% compared with the IPD property index of 12.5%. Since 2007 the value of the portfolio suffered a fall of 41%, following the collapse in market values, which is also better than the IPD monthly index. This has resulted in a reduction in the share price due to the effect of gearing.

The fall in value has now stabilised and with the benefit of recent lettings and other added value initiatives, there is potential for future uplift in values. The value is expected to rise at least in line with market conditions over the next 12 months and the portfolio is well-placed to continue to outperform the market.