Investment and asset management platform launches with £250m portfolio target
A retail and logistics real estate specialist has launched an investment and asset management platform with an initial target to create a £250m portfolio.
Stuart Mitchell has founded Real Harbour Capital, which offers services across investment management, asset management, and real estate advisory.
Mitchell is looking to leverage his 20 years’ experience within the retail and logistics sectors across all facets of the business. Between 2023 and 2025, he was part of the managing committee and managing director of group property at The Jockey Club, where he was responsible for overseeing the group’s real estate strategy to drive income and capital receipts from non-core land, to reinvest back into the horse racing business.
Prior to this, Mitchell joined NewRiver REIT in 2010 where he went on to become a member of the executive committee, head of third-party asset management, and responsible for the NewRiver REIT Southern Portfolio. During his time at NewRiver, he gained experience working in the shopping centre, retail park, and town centre regeneration sectors.
He began his career at logistics specialist Fuller Peiser, before it was acquired by BNP Paribas Real Estate, where he went on to specialise in agency and capital markets.
Real Harbour’s initial target is to create a £250m investment management portfolio, comprising retail warehousing, supermarket developments, selected shopping centres, multi-let industrial, and open storage. Following this, Mitchell is also targeting a £250m portfolio within the asset management branch of the business.
Beyond investment and asset management, Real Harbour will look to provide strategic advice to operational real estate occupiers, such as sports stadiums or clubs, race courses, universities, schools, local authorities, and landlords. Mitchell will aim to draw on his experiences at The Jockey Club to create value for clients that can be reinvested into their core businesses.
Mitchell, who comes from a family of 11 chartered surveyors, told Completely Retail News that now is the right time to launch the business:
“Post-Covid retail rents have rebased, deals have started to come in, retail demand and rental growth are up particularly in the retail warehousing market. 1.5 million homes are planned to be built by the Government, so there’s going to be a demand for new supermarkets and convenience retail. They will also need to be served by online deliveries, so there’ll be a growth in logistics. Online retail is forecast to grow to 30% of the market share by 2031, which means that 70% of UK retail sales will still be done in-store. That’s the opportunity.”
The group has already secured backing from a number of capital partners, including private equity, family offices and high-net-worths.
Real Harbour’s advisory board includes Katherine Russell, director of build-to-rent and the former head of property at John Lewis, Justin Thomas, property director at The Jockey Club who previously worked with Russel at NewRiver REIT as a director of development, Catherine Sherrin, data programme lead at Revantage Europe, a Blackstone company, and Caroline Hicks, director for growth and community at Dartford Borough Council and forrmer head of property and regeneration at Canterbury City Council.
Mitchell said that he’d like Real Harbour to be known in the market as a “can-do platform and trusted advisor” to its capital partners in the UK.
He added: “I feel now is a great time to be launching the business, I’ve already had some fantastic support from industry friends and colleagues in the market. I’ve been quite touched by the support.
“In a year’s time it would be great to have acquired our first property, secured our first asset management mandate, and to be making progress on the real estate advisory side. After year one it would be great to have built up a pipeline of new properties and mandates that we’re working on, and indeed some new capital partners.”