Resolution is founded
Resolution was founded in 1998 by Robert Laurence and the investment team from Argent Group Plc with the specific aim of investing in UK and European commercial property that offers scope for high returns through a good initial stock selection, active management, refurbishment and redevelopment potential.
Fund 1
We invested in retail, industrial and office assets with an emphasis on the London media industries, undertaking a major refurbishment and repositioning of a 330,000 sq ft art deco factory in Camden to create and iconic building housing a number of well known media businesses.
Hammersmith Grove
Major refurbishment of Hammersmith Grove begins. A 200,000 sq ft office building acquired from Wimpey in late 1999.
European Portfolio
During 2001 we embarked on our first investment in shopping centres and out-of-town retail parks sector within continental Europe.
Retail Parks in Sweden
We embarked on a second capital raising and purchased a 110,000 sq ft portfolio of retail warehouse parks in Sweden.
The Water Gardens, Harlow
Continued capital raising efforts, creating a comingled fund and purchased the Water Gardens, a 170,000 sq ft retail park in Harlow. We acquired two retail assets in the UK – The Ridings Shopping Centre, Wakefield and Harlow.
Fund 2
Closed our second capital raising in February 2004, with commitments from an enlarged shareholder base including international private equity investors, pension funds and major US universities and foundations. Our portfolio extended into continental Europe. Equity £330M/Gross capital employed £1,350M.
2005
Portugal, Kitson Way Harlow, Truro. Made a number of tactical sales of assets.
London & Geneva
In 2006 we embarked on our first residential investment and development. Our focus has been on London and Geneva. We are keen to develop the residential side of our business. We made two acquisitions on the Iberian peninsular namely Megapark and Aveiro. Made our first investment in Germany. We also bought Senator House and Ocean House.
Fund 3
Our third capital raising closed in December 2007, with increased commitments from many of our existing investors, along with a wider range of endowments and foundations and family offices. Equity Euro 800M/Gross capital employed Euro 3,000M. Switzerland and fund raising
Oxford Street, London
We focused highly selectively on assets within our core area of experience and saw a limited investment of 20% of the fund. Assets purchased include a prime retail park in East London and Glasgow; a leisure complex in central Manchester and an office building with redevelopment potential in Oxford Street in London.
2009
Reflecting current global market conditions, we proceed with caution in deploying our resources, whilst also looking forward to the opportunities we feel sure will present themselves in the coming years.
