Group launched to spread the word on REIT opportunities

Thirty firms from the commercial property and financial services industries have joined the Real Estate Investment Trusts and Quoted Property Group to boost awareness of REITs and quoted property investments.

To achieve the group’s aims, an internet portal called Reita has been created as an impartial source of information on quoted property investment, REITs and the funds that will invest in them. There will also be a supporting publicity campaignThe 30 firms involved include The British Land Company, AXA Investment Management, Lehman Brothers, Merrill Lynch IM, the British Property Federation and the Investment Property Forum.

The REIT regime will end double taxation by exempting eligible quoted property companies from Corporation Tax. This should make it attractive to investors who want tax-efficient indirect property investments.

Liz Peace, chief executive of the BPF, a founder member of the REITs and Quoted Property Group, says: “The long-awaited arrival of REITs marks an important milestone in property investment in this country.

“It opens up a host of opportunities for property firms, financial services providers, financial advisers and individual investors to increase their investments in the commercial property sector.”