Rapidly-growing private equity real estate firm Henley has launched its latest joint venture business initiative, Henley Outdoor Media Assets (HOMA).
The new platform will also see Henley invest for a 10% share in Edifice Managed Access (‘Edifice’), the UK’s largest manager of commercialisation rights for commercial property owners, who will originate deals for the platform. Henley will also hold a place on Edifice’s board of directors.
Edifice’s core business is monetising space for commercial property owners to generate long term income. Edifice analyses the portfolios of each landlord and auctions off available space to more than 45 media owners for the long term right to rent sites via Edifice, generating secure outdoor media and indoor media revenues for these landlords. In addition, Edifice also offers peak power, parcel locker and special asset (such as vehicle advertising) revenue opportunities. Edifice currently manages space at over 9,000 buildings, including the portfolios of three FTSE 100 and four FTSE 250 companies, as well as working for the UK’s largest property owners such as BT, Royal Mail, Travis Perkins, Punch Taverns, Henderson Global Investors and Topland.
Henley Outdoor Media Assets will couple Edifice’s experience in the sector with Henley’s financial strength and property industry contacts base. This new JV sidecar fund will acquire outdoor media assets from existing landlords looking for an exit on non-core income. Edifice will be able to offer landlords either its current Edifice managed service to maximise outdoor media rentals or for the JV platform to purchase a long leasehold or freehold interest in portions of land with live revenue generating outdoor media assets. This gives landlords the choice to receive income or capital as required.
Having doubled in size every year since its inception in 2006, Henley operates a hub and spoke model of working with accomplished entrepreneur partners and has set up a number of highly successful new businesses under the Henley banner over the last few years, including placemaking business Henley Camland. Henley Outdoor Media Assets, is the company’s ninth joint venture and will enable Henley to enter the fast growing outdoor media property asset space for the first time.
Commenting on the launch of Henley Outdoor Media Assets, Ian Rickwood, CEO of Henley, said:
“In line with our success to date, we continue to explore opportunities for new business platforms both domestically and overseas. Our latest business venture is a further demonstration of our commitment as an entrepreneurial firm to back other entrepreneurial businesses. In Edifice, we have selected yet another innovative and exciting partner in a large disaggregated market, and we look forward to announcing our first deals in the coming months.”
Ryan Jarvis, CEO of Edifice, said:
“Edifice is very pleased to partner with such a well-respected private equity player in the commercial property sector. Edifice already manages the property portfolios for new revenue stream creation for some of the UK’s largest property owners so the partnership with Henley will enable Edifice to leverage that expertise to create new value for property owners. Edifice now enables property owners to have the choice to receive long-term revenues or to receive a one-off capital payment by moving the outdoor media market risk to our joint venture.”
Established in 2006, Henley is a leading UK private equity real estate investor focusing on development, investment and asset management in the commercial, residential, healthcare debt and alternative real estate market. Since inception Henley has approximately doubled in size every year and is expected to do the same again in 2016. The company currently has around $1.25 billion assets under management (as of end of 2015).
Henley’s platform has nine separate divisions, all headed by an experienced entrepreneurial partner; including Henley Space, a prime London residential development, HCRE, an opportunistic commercial investment, Henley Healthcare Investments, HPF (Henley Property Finance) a debt focused business, Henley 360 a European light industrial vehicle, Henley Camland a land infrastructure business and Henley USA looking at new ventures including Waterwalk apartments. In addition, Henley is acting for a number of international family offices through its HFOA (Family Office Advisors) business, launched in February 2014. Henley is an entrepreneurial company that continues to back entrepreneurs.
For further information please contact:
Henley, Ian Rickwood CEO – 07717 134207
Edifice, Ryan Jarvis CEO – 07785 324758
Redwood Consulting, PJ Appleton – 020 7828 5553
Redwood Consulting, Clare Hartshorne – 020 7828 5553
27th May 2016 | Press Release by Redwood Consulting