CIT Group has been an active real estate private equity investor for over 20 years.

We are active in the commercial and residential property sectors in the UK and Europe, with previous investments as far afield as New York and Hong Kong. We are committed to bringing intensive and intelligent asset management to our portfolio.

Our in-house Development Team is currently delivering some of London’s most exciting landmark schemes. Our focus is on unlocking value across London. We believe development is a local business, and our experience in obtaining multiple planning consents and delivering numerous complex development schemes in London makes us a partner of choice for global capital accessing London.

Our investments have been direct, as well as through fund structures, and we typically invest alongside partners and through joint ventures. In total, we have over £2 billion of assets currently under management.

Our success comes from the talented, dedicated people who work for CIT. We employ the best people from a range of disciplines – and we are constantly adding to our talent pool.

CIT Financial Services Limited is authorised and regulated by the Financial Conduct Authority. For more information, please get in touch.

Timeline

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October 1995
Capital and Income Trust founded by John Barroll Brown.

A former lawyer, John Barroll Brown established CIT as a vehicle for inward investment into the UK real estate market.

Marco Polo external

November 1995
Marco Polo Building purchase.

CIT’s original strategy was to invest in landmark income-producing assets, let to reliable covenants.

100-avenue-house

April 1996
100 Avenue Road purchased.

A further acquisition of a landmark London office building.

Sea Containers external

September 1996
Sea Containers House purchased.

CIT acquired Sea Containers House on the South Bank, in 1996. Coincidentally, CIT acquired King’s Reach Tower, seen in the background, in 2010.

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September 1996
£300m of assets purchased to date.

CIT’s AUM exceeds £300m for the first time.

Royal Mint external

January 1997
Royal Mint Court purchased.

This London landmark was acquired in January 1997.

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December 1997
CIT forms CIT Developments.

Having identified various development opportunities in London, CIT moved to create its development business, which remains active today.

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February 1998
£341m securitisation with UBS of “the big six” properties.

More London City hall external at night

December 1998
Development starts at London Bridge City, later to be known as More London.

CIT identified this 13 acre brown field site on the South Bank of the River Thames, between London Bridge and Tower Bridge, and it became a strategic development opportunity. CIT delivered the GLA Building (City Hall) on time and on budget – a unique achievement among the municipal buildings of this time.

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February 2000
£500m of assets purchased.

CIT’s AUM exceeds £500m for the first time.

The Peak

June 2000
CIT forms Joint Venture in Hong Kong.

Subsequent purchases of The Peak (view pictured) and Silver Fortune Plaza in Central established a track record for the platform.

Alban Gate external at night

December 2000
Alban Gate purchased.

The 387,942 sq ft building was purchased in December 2000 for circa £150m. CIT’s management of the investment realised an annualised Investor IRR in excess of 30%.

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December 2000
CIT forms property Joint Venture with Morgan Stanley.

Wigmore Street

August 2001
Purchase of a mixed use redevelopment site on Wigmore Street in Westminster.

The Chelsea

September 2001
CIT forms Joint Venture in New York.

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November 2001
£1bn of assets purchased.

CIT’s investment history surpasses £1,000,000,000.

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July 2002
CIT becomes regulated.

CIT Financial Services Limited remains regulated by the Financial Conduct Authority today.

Bourbon Portfolio Cramlington

January 2003
Acquisition of a portfolio of 11 shopping centres for circa £320m.

Under CIT’s stewardship, footfall doubled and Zone A prime rents grew from an average of approximately £65 to £90 in two years.

Purchase of Abbey House, Baker Street, for residential development.

December 2003
Purchase of Abbey House, Baker Street, for residential development.

CIT acquired this site in 2003, receiving planning consent in 2004 for 138 private residential and affordable apartments.

Purchase of Aybrook Street; a residential development site in Westminster.

August 2004
Purchase of Aybrook Street; a residential development site in Marylebone, Westminster.

CIT purchased this 170,000 sq. ft. site for £15.5 million. Record sales prices were achieved for the private apartments.

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January 2005
£1.5bn of assets purchased.

CIT’s investment history surpasses £1,500,000,000

Purchased Montrose House in Belgravia for a residential development.

June 2005
Purchased Montrose House in Belgravia for a residential development.

This residential site was purchased by CIT in June 2005 for £10million. Planning permission was received in December 2005 for the 31,250 sq. ft. site which was turned into 10 apartments and 15 parking spaces.

Delta Portfolio

July 2005
Purchase of the Delta portfolio, comprising nine German retail assets.

The portfolio totaled 730,000 sq.ft. and is valued at €103 million.

10 Fleet Place external

August 2005
Purchase of 10 Fleet Place.

CIT purchased this 183,102 sq ft landmark building in London’s EC4

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September 2005
CIT forms European Business.

Chiswick Lodge - Riverside Elevation

November 2005
Purchased Chiswick Lodge for a residential development scheme.

This former NHS Hospital site was acquired for £5.5 million. Planning permission was granted in 2007 and 11 large houses were erected.

Saxony external

January 2006
Acquisition of German nursing home portfolio.

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September 2006
CIT Hamburg office established.

Little Smith Street exterior

November 2006
Purchase of 2 Little Smith Street for residential development.

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December 2006
Purchase of 11 Charles Street, a commercial development site in Mayfair.

The scheme was delivered in 2010.

Thistle Portfolio Cardiff Hotel

April 2007
£411m purchase of 28 Thistle Hotels.

CIT acquired 28 hotels through the CIT UK Real Estate Limited Partnership.

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April 2007
£2bn of assets purchased, £500m of equity invested.

CIT investments surpass £2,000,000,000.

Great Peter Street exterior

November 2007
Purchase of 35 Great Peter Street for residential development.

This site was acquired in 2007 without planning and transformed into 9 private apartments with architects Rolfe Judd. The project was completed in 2010.

Chelsea Galleries external

July 2008
Purchase of former Chelsea Galleries (formerly Chelsea Arts Club) on the Kings Road for residential and retail development.

CIT achieved planning consent in June 2010 for a new residential and retail development. The project was completed in 2014.

135-grosvenor-road_400

October 2009
135 Grosvenor Road

Appointed Development Manager by Clydesdale Bank for residential development at 135 Grosvenor Road, Pimlico.

50 St Edmunds Terrace external

February 2010
Purchase of St Edmund’s Terrace and Twyman House.

A luxury residential new build development in the heart of Primrose Hill, due for completed summer 2015.

Prince Quay Hull external

May 2010
Purchase of Princes Quay shopping centre.

This landmark shopping centre in Hull was acquired by the CIT Jadwa Special Opportunities Fund.

South Bank Tower

July 2010
Purchase of King’s Reach Tower.

CIT purchased South Bank Tower (formerly King’s Reach Tower) as a Joint Venture with Jadwa Investment.

One Nine Elms external

February 2011
Appointed Development Manager for One Nine Elms

CIT was appointed Development Manager of One Nine Elms (formerly Market Towers) redevelopment in Nine Elms by Allied Irish Bank and Green Property.

 

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March 2011
Appointed to manage a portfolio of seven European assets.

CIT’s asset management team won a mandate to manage this commercial portfolio across five European countries.

South Bank Tower

July 2011
Planning Consent achieved for South Bank Tower for an office, residential and commercial scheme.

The consent, including 178 residential units over 36 storeys, was improved further in August 2013 to 191 residential units over 41 storeys.

Lancer Square

March 2012
Appointed Development Managers on Lancer Square

Situated a short distance from Kensington High Street, CIT are working as development managers on this project with plans to create 51 residential apartments as well as retail and office space.

One Nine Elms external

October 2012
Planning Consent achieved for One Nine Elms

CIT won consent, for what was then Europe’s tallest residential tower. One Nine Elms was subsequently acquired by Dalian Wanda.

Finsbury Tower

November 2015
Purchase of Finsbury Tower

Redevelopment proposals are currently being prepared for this 178,000 sq. ft. office tower. Completion is expected in 2019.

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February 2016
CIT moves to new headquarters in Jermyn Street

CIT’s London office contact details are here.

Park Crescent West

March 2016
Appointed Development Managers on Park Crescent West

Plans include to turn this site into 76 residences. Completion is expected in 2019.

12 Arthur Street, City of London

June 2016
Purchase of 12 Arthur Street

12 Arthur Street comprises a 104,000 sq. ft. core City office building constructed in 2004. The building is multi let with tenants including Prudential, A.M. Best and Credo and provides various asset management opportunities.

Our Team

John Barroll Brown

John Barroll Brown
Executive Chairman

John founded CIT in 1995 and is responsible for our consistent growth into one of the foremost private equity property investment vehicles in the business.

That success is largely down to the partnerships and fund structures John has forged with institutions and high net worth groups in Europe, the US, the Middle and Far East and Australia. During this time the group has acquired approximately £3 billion of commercial property.

John remains the Executive Chairman of the Group and chairs our Investment Committee.

George Kyriacou

George Kyriacou
Managing Director
Developments

George leads the development team and is responsible for the conception and delivery of CIT’s development projects across London.

He joined CIT in 1998 and played a pivotal role in the successful completion of More London, a two million square-foot development on the South Bank of the Thames that includes City Hall. Since then, George has led all our development projects and has established an exceptional track record of delivery and investor returns.

George is a visiting professor at Southbank University, a Fellow of the Royal Institution of Chartered Surveyors (FRICS) and an Associate of the Chartered Institute of Arbitrators (ACIArb).

Craig-Johnston-(11)

Craig Johnston
Chief Operating Officer

Craig is responsible for all investments under management, as well as focusing on raising funds and overseeing day to day operations of the group.

Before joining us in 1999, Craig spent six years in the advisory division of Jones Lang LaSalle, where he specialised as a consultant in shopping centres and central business district offices for the Sydney and London offices.

Craig is qualified MRICS, BBus (Land Econ) Grad Dip (Fin & Inv) and is a Certified Fund Manager (CFM) and Certified Property Practitioner (Fin) (CPP (Fin)). He is an Associate of the Australian Property Institute and Fellow of the Securities Institute of Australia.

Chris-Orr-(32)

Chris Orr
Managing Director
Asset Management

Chris heads up our real estate asset management function, and is responsible for a broad portfolio spanning London, the UK and Europe.

He joined us in 1999 from Drivers Jonas and Cluttons, where, he worked on asset management and valuation for a number of mixed-use portfolios on behalf of property companies and institutional investors.

Chris is a member of the Royal Institution of Chartered Surveyors (MRICS), and has over 20 years of real estate experience.

Ed-Nicholls-(1)

Ed Nicholls
Head of Finance

Ed oversees the financial management, accounting, tax and financial reporting of CIT and our investment portfolio.

Before joining us in 2008, he spent six years at BDO LLP. He is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), with an MA in Natural Sciences from the University of Cambridge

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Steve Riddell
Director
Developments

Steve joined CIT in 2010 to manage our flagship regeneration of the iconic King’s Reach Tower on London’s South Bank.

He has over 20 years of experience with landmark mixed-use schemes, and worked at Land Securities and Tishman Speyer before joining us.

Steve is a qualified architect. His design background gives him an unusually broad perspective that allows him to add value where others can’t. He has a strong track record in delivering commercially successful schemes in central London.

Thomas Finch

Thomas Finch
Director

Tom joined CIT from real estate consultancy King Sturge in 2010, where he advised public and private sector clients on structuring and viability of development and investment opportunities across the UK.

At CIT, he focuses on the analysis and underwriting of new and existing projects, and leads a team of analysts to provide in-house cashflow modelling, analysis and investor reporting. Tom holds an MA in Mathematics from the University of Cambridge and is an Approved Person under FCA regulations.

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Colin Haywood
Development Manager

Colin joined CIT in 2009. He focuses on the detailed design and delivery of our residential projects, and has played a key role in delivering CIT’s Chelsea Galleries project on the King’s Road.

Colin has worked all over the world, from New York to Lebanon – an experience that gives him an unrivalled insight into the evolving design vernacular. He’s a qualified architect, with a passion for bold mixed-use schemes.

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Ewen Puffett
Associate Director

Prior to joining CIT in August 2014, Ewen worked within Property Agency and Consultancy organisations where he specialised in the project management of commercial, residential and retail projects for clients including: British Land, Berkeley Homes, Heron International, Pillar Properties, Land Securities, Get Living London and Native Land as well as niche developers Zog Group and PDMS Vesty.

A member of the Royal Institution of Chartered Surveyors, Ewen holds an Honours degree in Building Surveying from De Montford University, Leicester.

Ewen was responsible for managing the onsite delivery of CIT’s South Bank Tower and is now managing the development of Lancer Square, Kensington.

Matthew Gibson

Matthew Gibson
Development Manager

Matthew has a strong focus on the delivery side of projects and previously worked as a Project Manager for Rise. He has recently completed South Bank Tower project and is focusing on delivering Park Crescent West.

Prior to Rise, Matthew worked with MACE project management on the British Museum, The Savoy Hotel, and Park House projects.

He trained with AMEC Construction and has a construction background.

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Chris Richmond
Associate Director

Chris joined CIT in 2011 and is responsible for sales and marketing of CIT’s residential projects.

He has a background in engineering, design and finance with a BA (Hons) Industrial Design from Brunel University and a Masters in Finance & Investment from CASS Business School.

Previously, Chris worked at CTM Design, creating luxury interiors for aircraft and yachts.

Keshal Patel

Keshal Patel
Marketing Manager

Keshal is responsible for marketing and branding for CIT as well as all development projects.

Prior to joining CIT in 2015 she worked for luxury developer Newcourt Residential and main contractor 8build, working on projects in London and Surrey. Keshal holds a BA (Hons) in Business Studies and is an Accredited Member of the Chartered Institute of Marketing (ACIM).

Toby Croft

Toby Croft
Associate

Toby is responsible for sourcing, analysis and execution of new opportunities as well as the asset management of our existing portfolio.

Prior to joining CIT in 2014 he worked for real estate consultancy Cushman & Wakefield, where he worked in the Central London Investment Team. Toby holds an MSc in Real Estate from the University of Reading and is a member of the Royal Institution of Chartered Surveyors (MRICS).

marketa

Marketa Nosalova
Analyst

Marketa focusses on the analysis and viability of new opportunities as well as ongoing financial modelling and investor reporting of our portfolio under management.

Prior to joining CIT in 2015, she worked at Fourth Street, a management consultancy specialising in destination development and placemaking. Marketa holds an MSc in Comparative Political Economy from the London School of Economics.

Craig Clarkson

Craig Clarkson
Financial Accountant

Craig manages the day to day operations of the Finance Department, including accounts receivable and accounts payable ledgers, payroll, preparing management accounts, the group VAT return and assisting the Financial Controller with the Financial Statements.

Prior to joining CIT in January 2016, Craig spent 7 years working in Higher Education, managing financial reporting and taxation processes and preparing statutory returns.

Craig is a member of the Association of Chartered Certified Accountants.

Libby Paxton

Libby Paxton
Receptionist

Libby joined CIT at the start of 2016, previously holding the role of administration assistant at the private equity advisory firm MVision. While running the reception, she also assists with various administrative duties for the Accounts and Developments Teams.

Libby completed her Executive PA Diploma at Oxford Media & Business School, and graduated with Distinction Honours in 2015.

Developments

Our experienced, London-based Development Team is leading some of the most exciting Projects in the capital.

We are adept at unlocking the potential of difficult sites. We deliver in many ways – through a new or enhanced planning permission, a change of use, a new building or a refurbishment project. Often it is a combination of them all.

We believe there’s no substitute for experience when it comes to development. It’s down to our local knowledge that we’ve managed to obtain planning consents for over 7 million sq ft of new development across London.

We’re the development partner of choice for a broad range of global investors. We pride ourselves on consistently delivering complex schemes on time and on budget from previous landmark schemes like City Hall to current flagships such as South Bank Tower and 50 St Edmund’s Terrace. We are currently delivering circa £2 billion of development projects across London.

7m sq ft of new development
£2BN of development projects

Investments

CIT is a value-added and opportunistic real estate investor. Our Investment Team has executed various strategies across the UK and Europe and continues to search for opportunities to outperform.

Since 1995, we’ve acquired around 150 properties, and our portfolio has ranged from office buildings and shopping centres to hotels and nursing homes, and has included over €525 million of investments on the Continent.

We see asset management as a creative industry, and we work hard to add value through intelligent and intensive asset management. Our strategy relies on attracting the best talent to the right opportunities.