Here you will be able to find the latest Lucent Strategic Land Fund performance figures in their regular factsheet.

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Latest Manager Commentary

LUCENT STRATEGIC LAND FUND UP 1.20% in JUNE 2014  

The outlook for the Lucent Strategic Land Fund continued to improve during June, as outlined below.  The Fund continues its progress towards its stated target return of 12% (net of fees) in 2014 at the same time as laying the foundations for even more enhanced growth in the future.
 
ROYAL PIER WATERFRONT

An agreement under the Coastal Concordat (a planning performance agreement) has been signed with the Marine Management Organisation and Southampton City Council which establishes a timescale for the submission of the relevant planning application and subsequent determination. The first stage of consultation for the Royal Pier Waterfront project has commenced. Both special interest groups, and the general public, were invited to see early designs and to input their own thoughts.  A second stage of consultation will take place in Q4 2014 before a planning application is submitted in Q1 2015.  Please visit our NEW website at www.royalpierwaterfront.com.

 ALLERDALE INVESTMENT PARTNERSHIP

Consultation has begun on the Allerdale Investment Partnership’s Ashfield Road site, for 250 residential units, and a planning determination is expected in Q4 2014.  A further two sites will be drawn down into the Partnership by the end of the year.

The Investment Partnership programme continues to grow and more and more local authorities are looking to participate. A second Investment Partnership with a city council in the East Midlands is expected to be signed in August.  Negotiations are also underway with a third local authority and we are anticipating a positive outcome to this by the end of 2014. All of this will, of course, help to positively support the share price.

LINCOLNSHIRE LAKES

As per recent updates, the Lincolnshire Lakes development continues to progress towards the granting of planning consent in Q4 2014. Furthermore, in June the UK government announced that between 2015 and 2017 over £100 million will be invested into the Humber region to stimulate economic growth (of which £13million has been specifically earmarked to support infrastructure delivery on the Lincolnshire Lakes project). This investment, known as the ‘Humber Growth Deal’, will focus on four key areas identified in the Humber Local Enterprise Partnership’s Strategic Economic Plan:

• Creating the infrastructure that supports growth, including transport and housing
• Supporting businesses to succeed
• Creating a skilled and productive workforce
• Stimulating economic development through further investment in flood and coastal risk management

This investment directly benefits the Lincolnshire Lakes development with government money put aside to help strengthen the flood defences near the site. This will improve valuations of the site as it will reduce costs that a developer might otherwise have to undertake.  The government’s own figures suggest that by 2021 the Humber Growth Deal will create at least 7,000 new jobs and that is impacting immediately on the demand for new houses in the region and the land on which they can be built.

ACQUISITION PIPELINE

The Fund continues to develop a strong pipeline of new projects that will bring ongoing reward for several years. Lucent’s reputation for the delivery of land for development is well established and the Fund is receiving increasing numbers of introductions to sites across England from statutory bodies, utility companies and private enterprise. Lucent continues to operate an extensive and exhaustive filtering process to ensure that only those sites that have the greatest potential are brought forward by the Fund. Further acquisitions are expected to be made by the Fund before the end of 2014.

The granting of planning permission on Lincolnshire Lakes, progress of the Lucent Investment Partnerships with local authorities, advances in Southampton’s Royal Pier Waterfront and a strong pipeline of projects due to come online in the next few months, is anticipated to provide a continued increase in the NAV during the second half of this year enabling the Fund to meet its stated target return of 12% (net of fees) in 2014.