London & Stamford, the Aim-listed investment vehicle of UK property veterans Patrick Vaughan and Raymond Mould, last week raised £220m, adding to an already sizeable war chest aimed at taking advantage of the bottom of the property market.
L&S could have raised twice that amount, such was the level of interest, but turned the extra cash down for fear that it could not be spent fast enough. The deal underlines the success the company has had in its first year on London’s alternative investment market, when it has been able to exploit an early-mover advantage as one of the few in the market with both equity and the debt to back it up.
