L1 UK Residential Fund
Invest in a market underpinned by stable income, structural undersupply and compelling long-term growth.
(MSCI UK Real Estate Index 0.2% p.a.)*
A compelling opportunity for long-term investors
Fund manager
David Lamm
Chief Executive Officer | L1 PropertyView bioInvestment opportunity
The U.K. residential market combines many of the characteristics long-term investors seek: stable, inflation-linked income, attractive entry valuations, structural housing undersupply and the potential for meaningful capital appreciation.
For more than 60 years, residential rents have broadly tracked wage growth, providing resilient cash flows through changing economic conditions. Today, the opportunity is even more compelling. Apartment yields across many regional U.K. cities are approximately double those available in Australia, while housing remains significantly more affordable.
The investment case is further strengthened by a severe shortage of new housing supply. Development has slowed sharply because replacement costs now exceed market values across many regional centres, limiting future supply while population growth continues to support demand. This imbalance is driving strong rental growth and underpins our long-term investment outlook.
Importantly, rental growth has significantly outpaced apartment price growth in recent years. Since 2017, rents have increased by around 40%, while apartment prices have risen by only around 7%, creating what we believe is one of the most attractive entry points since we began investing in the U.K. residential market.
Fund overview
As part of the due diligence process, we complete a comprehensive market assessment (‘macro’ and ‘micro’ location analysis) and an assessment of the operational upside. We seek to add value by bringing capital to assets that have been underinvested historically in order to increase rental income generation and accelerate price appreciation.
Fund returns
Data as at **DATE**. All returns are quoted net of fees from Fund inception to 31 December 2025 including foreign income tax offset (FITO) distributed but before accrual of U.K. taxes. Latest data available.
Invest now
Invest now in the L1 UK Residential Fund
Additional resources
Product Disclosure Statement (PDS) and Application Form
Application Form | L1 UK Residential Fund - Unhedged AUD
Application Form | L1 UK Residential Fund - Hedged AUD
Application Form | L1 UK Residential Fund - GBP Class
Redemption Request
Target Market Determination (TMD) | Hedged Class
Target Market Determination (TMD) | Unhedged Class
Please contact us for further assistance.
* L1 Capital U.K. Residential Property Fund I Hedged Class from inception in September 2017 to 31 December 2025. Past performance should not be taken as an indicator of future performance.
Information contained in this page
Equity Trustees Limited (“Equity Trustees”) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity for the L1 Capital U.K. Residential Property Fund I/II/III/IV. Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).
This page has been prepared by L1 U.K. Property Investments Pty Ltd (ACN 619 264 096), (an authorised representative (no. 1255692) of L1 Capital Pty Ltd (ACN 125 378 145, AFSL 314 302) and its officers and employees (collectively “L1 U.K.”), to provide you with general information only. In preparing it, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither L1 U.K., Equity Trustees nor any of its related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. All performance numbers are quoted after fees. Past performance should not be taken as an indicator of future performance. You should obtain a copy of the Product Disclosure Statement (‘PDS’) before making a decision about whether to invest in this product.
The offer made in the PDS is available only to persons receiving this PDS in Australia and New Zealand (electronically or otherwise). The offer is not available to UK investors. This PDS does not constitute a direct or indirect offer of securities in the US or to any US Person as defined in Regulation S under the US Securities Act of 1933 as amended.
Copyright
Copyright in this publication is owned by L1 U.K. You may use this information in this publication for your own personal use, but you must not (without L1 U.K.’s consent) alter, reproduce or distribute any part of this publication, transmit it to any other person or incorporate the information into any other document.
