Sir Tom Hunter cashes-in with sale of property venture shares

Scottish entrepreneur Sir Tom Hunter has sold off a raft of shares in a commercial property venture he has backed since the turn of the century.

He sold the bulk of his holding in the Secure Income REIT that he developed with commercial property expert Nick Leslau.

The Secure Income REIT owns the Alton Towers theme park as well as 20 hospitals and the sale means Sir Tom has been able to cash in on his long-term backing of the commercial property sector through the vehicle.

However, he has also chosen to retain a seven per cent holding in the business valued at £34m, suggesting he remains optimistic for the prospects of more gains in the future.

“Nick and the team have done a terrific job and that’s why we are leaving a substantial portion of our investment in for the long term,” said Sir Tom, who acquired his holding in Secure Income REIT for £34m.

The company listed in 2014 after acquiring a portfolio he developed with the Prestbury business led by Mr Leslau, with whom Sir Tom has been involved in a series of property deals with since 2001.

Sir Tom sold shares in Secure Income REIT to institutions as part of a £280m secondary placing, which allowed the company to broaden its shareholder base.