The company, which launched a UK residential property earlier this year, said it had kicked off the new fund with a £3m acquisition of a 30,000ft government-occupied office building in Livingston.
The property adviser on the fund is Aston Property Ventures.
Isle of Man-based advisory firm, Creechurch Capital will act as master distributor of the fund through its specialist offering, Creechurch Advisory Services. Creechurch also act as master distributor of the Castel Residential Property Fund.
John Greenwood at Creechurch Capital said: “Property is moving up the agenda for investors and the market presents niche opportunities for good returns when incorporated into a well-diversified, long-term portfolio.
“The fund’s investment strategy is a completely new approach and will be highly selective to ensure it addresses the usual issue of illiquidity of this asset class.”
The minimum investment for Castel Commercial is £10,000 with a targeted net return of 10%-12% per annum.
