URECO is an owner-managed property investment company combining expertise in both construction and investment. Our approach is simple; we take accountability for our investors capital whilst applying a collaborative and ethical approach.
Established in 2018, we put our investors first and at the forefront of every decision we make. We deliver on this promise by co-investing our own capital on each project, charging no fees and benefiting only from a share of the profits. This approach helps us to ensure that confidence is retained in our ability to develop and manage the right properties.
About us
Capital preservation is our priority.
All our investments are asset-backed and we have no leverage in the fund. We co-invest alongside our investors on a second charge basis providing an additional layer of protection which reduces capital risk further.
Our unique model provides a solution to the liquidity mismatch associated with traditional property, enabling us to accelerate and control returns.
We believe that relationships with few contractual links have a lower risk. Therefore we do not engage with third party contractors and aim to promote investor confidence by controlling the entire development process with our own in-house team of architects, surveyors and contractors. This enables us to maintain control and direct accountability in every stage of the investment while providing the transparency expected from an investment manager.
The buck stops with us.
We charge no-upfront or ongoing fees. Unlike so many funds out there, we believe that the manager should be rewarded based on performance only. Being responsible for investing someone else’s capital is a privilege and we disagree with the outdated concept of charging fees regardless of performance.
URECO exists to serve our investor’s needs and our co-investment reiterates this point by ensuring that we treat each investment as if it were our own.
We wanted an investment option that responded to the Bank of England’s interest rates which are now at a historic low. We identified that investors were looking for alternative low risk investment opportunities with the security akin to opportunities in cash and bond markets.
Process
URECO targets the lower to mid-end of the property market with a focus on individual residential units located in commuter belt areas.
Our objective is to standardise the granular small-scale end of the property market which has remained unattractive to institutional developers. We operate a model that applies a highly professional approach which enables us to autonomise the process to accelerate returns. We demonstrate that good design adds value and helps create desirable homes that have a direct impact on value.
Our financial model champions diversification. Not only do we target different geographical regions but we also take on a range of projects from basic refurbs through to new build multi-unit developments.
Philip is one of the founders of URECO. He is responsible for the strategic development of the business. Philip oversees all aspects of URECO’s development projects in order to deliver shareholder value. Philip is responsible for building awareness of the fiduciary duty to protect investor interests across the business. Prior to starting URECO, Philip worked at one of the world’s leading architectural firms. During his residency, he worked on several international projects including the Stirling Prize winning Bloomberg Building in London. Philip is a Forbes 30 Under 30 Honoree on Europe’s Finance List and has previously worked and lectured in the USA and Middle-East.
Ed joined URECO from Rothschild & Co and brings in his extensive experience in portfolio management and investor relations. Ed’s financial perspective complements that of our property professionals, providing a foundation for URECOs growing investor base. Ed facilitates a nuanced approach to fund management and he is responsible for maintaining URECO’s philosophy of prioritising investors’ needs ahead of our own. Preservation first is URECO’s approach to investment whilst providing predictable and stable returns to create sustainable shareholder value.
Advisory Board & Founding Investors
Geoff Mortimer – cml.uk.com
Tim Russel – Legal Counsel
Philip Wright – PwC
Susan Haroun – Schroders & UBS
Rishi Kapoor – Investcorp
URECO’s board have a wealth of experience running international businesses in the construction and finance sectors. Together, the board provide strategic value and governance in two key areas; Investment and Construction. Together our aim is to become a market leader in property investment setting a new sustainable and accountable industry standard.
Mechanics
URECOs structure is designed to put investors first. Investors capital is used to purchase the property, which is often sourced under market value. URECO investment pays the stamp-duty, legal fees and all construction & development costs. This structure means the investors capital remains secure against the original property value.
Here's the latest
2018
Apr
Business model presented to industry leaders for investment
Jun
Completed a Phase 1 seed-funding round based on a £1.6M valuation
Nov
First Development Complete – proof of concept underway
Dec
URECO generate traction with £1M of funds under management
2019
Mar
Third Development complete. Two projects running in parallel
Apr
URECO exceed £2.5M of funds under management
Sep
Fifth Development complete averaging returns of 7.5% to investors
2020
Apr
URECO exceed £5M of funds under management
May
Ed Batchelor joins URECO from Rothschild & Co as Chief Investment Officer
May
Ed is the 15th team member of URECO including 11 contractors
Jun
URECO complete our second seed-funding raise based on a £4.8M valuation
Jul
£1M milestone of investment raised from the USA and outside of the UK.
Jul
URECO close the deal on our fifteenth Development
Sep
Matt Cook is appointed as construction manager and director of URECO Construction
Sep
URECO exceed £10M of funds under management
Oct
Appointment of accountants and legal representation to prepare URECO for FCA approval
Nov
FCA application submitted as a small UK AIFM in preparation for expansion up-to £500M
