Mill Group Story

 

Today, Mill Group is structured to provide a holistic and full service investment and asset management resource for institutions and other investment groups that is entirely focussed on delivering relevant expertise to maximise their investment objectives.

The Group includes a regulated fund management and advisory arm, fund origination and asset management expertise, which includes experts in acquisitions, asset management, portfolio management, research and finance.

It all began with a small residential property investment.

1994 – We set up Mill Group

Mill Group is formed and manages over £50 million of residential property investment companies established under the Business Expansion Scheme. It then establishes a number of PFI, property investment and development funds, including the Mill Group UK Property Fund based in Guernsey.

1998 - Launch of Aviva Public Private Partnership Fund (Aviva PPP)

A £200 million investment fund operated by Aviva Investors and now managed on a day to day basis by Mill Asset Management Group. The Aviva PPP Fund owns 11 PFI projects competitively procured by Mill Group. The Lime Property Fund, of which the Aviva PPP Fund is a major part, was rated the “most secure income stream out of all pooled funds” for five consecutive years in the 2010 IPD Annual Universe.

2002 - Creation of the Investors in the Community Programme

The programme works in partnership with the public sector to ensure that the beneficial impact of that investment goes beyond the simple contractual relationship.

Provides over 15,000 learning places in schools, primary care healthcare and mental health facilities for over 500,000 patients, as well as other accommodation and cultural facilities for local authorities and the communities they serve.

2004 - Launch of the Investors in the Community Fund

Mill Group creates the first PPP investment fund backed 50:50 by public and private sector investors, which include LPFA, South Yorkshire Pension Fund, London Borough of Newham Pension Fund, Clerical Medical, SMBC and Mill Group.

The Investors in the Community Fund delivers a variety of projects with an aggregate cost of approximately £700 million. The projects and funds have received over 20 awards to date including “Most Innovative Funder” in the Public Private Finance Awards 2006, the “Prime Minister’s Better Public Building Award” in 2005 and the first ever “The Observer Ethical Award for Building of the Year 2006” for the Jubilee Library in Brighton.

2006/07 - Mill Group sells its PFI procurement and management activities

Sold to a subsidiary of Land Securities Group Plc, Land Securities Trillium

2008/09 - Completion of buy back of Mill’s PFI management activities

Completion of buy back of Mill’s PFI management activities from Land Securities Trillium.

2009 - Investors in Housing programme developed

Investors in Housing programme developed and fundraising activities commence.

2010 - 2013 - Investors in Homes concept developed

Investors in Homes concept developed with the aim of creating a new asset model that would make the UK residential market attractive to institutional investors.

2014 – Oak Portfolio

In March 2014, Mill Group created a joint venture consortium with Bovis Homes Limited to acquire 190 new homes situated across the south of England. Mill Group is the majority owner of the consortium and working with Bovis Homes, secured a senior debt facility from RBS. The Homes and Communities Agency also provided £8.77m funding for the transaction as part of the Build to Rent Fund. The deal totalled £45m.

2014 - 2015 – Mill Residential REIT plc

In November 2014, Mill Group Residential launched the first mainstream residential real estate investment trust. ​In November 2015, the company entered into members voluntary liquidation.

Investment Highlights

Since 1994, Mill Group has demonstrated its expertise in conceiving, building and operating social infrastructure and residential property funds.

Oak
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