The amount of property held in offshore structures has grown exponentially, fuelled by comparatively healthy returns on property, falling equity markets and the example of a number of leading players.
Schroders manages property assets in excess of £3bn in Jersey unit trusts, Henderson has had an open-ended property unit trust in Jersey since 1994 and launched a closed-ended retail warehouse fund in 2001. Merrill Lynch and Threadneedle property portfolios are now held in Jersey unit trusts. There is a surprising number of landmark London buildings, shopping centres, retail and leisure developments and industrial estates held in Jersey limited partnerships, and a number of major retailers hold their properties in offshore subsidiary companies. In the light of this growth and the Financial
