Mansford's value investment philosophy is based on the following, notably:
- Where extra value can be added by active and innovative management.
- Investments capable of producing high yield returns relative to the
quality of the asset within a reasonable timeframe.
- Where the majority of the income is secure and long term or where there
are a sufficient number of tenants to minimise risk based on a downside cash
flow that enables interest payments to be met on debt obligations.
- Assets purchased at low capital value to market comparables whilst having
significant land value, vacant possession value or alternative use value to
purchase price.
- If the security of income test is not met, then where the asset is in a
strong location and capable of re-letting from a competitive base cost.
- Portfolios or publicly listed companies with these characteristics and/or
where a significant break-up premium exists.
- Joint ventures with Corporate operators in which both Mansford's and the
Corporate's economic interests are aligned.