We permit the publication of our auditors’ report, provided the report is published in full only and is accompanied by the full financial statements to which our auditors’ report relates, and is only published on an access-controlled page on your website, to enable users to verify that an auditors’ report by independent accountants has been commissioned by the directors and issued. Such permission to publish is given by us without accepting or assuming any responsibility or liability to any third party users save where we have agreed terms with them in writing.

Our consent is given on condition that before any third party accesses our auditors’ report via the webpage they first document their agreement to the following terms of access to our report via a click-through webpage with an 'I accept' button. The terms to be included on your website are as follows:

I accept and agree for and on behalf of myself and the Trust I represent (each a "recipient") that:

  1. PricewaterhouseCoopers LLP (“PwC”) accepts no liability (including liability for negligence) to each recipient in relation to PwC’s report. The report is provided to each recipient for information purposes only. If a recipient relies on PwC’s report, it does so entirely at its own risk;
  2. No recipient will bring a claim against PwC which relates to the access to the report by a recipient;
  3. Neither PwC’s report, nor information obtained from it, may be made available to anyone else without PwC’s prior written consent, except where required by law or regulation; and
  4. PwC’s report was prepared with Hermes Property Unit Trust's interests in mind. It was not prepared with any recipient's interests in mind or for its use. PwC’s report is not a substitute for any enquiries that a recipient should make. The financial statements are as at 25 March 2016, and thus PwC’s auditors’ report is based on historical information. Any projection of such information or PwC’s opinion thereon to future periods is subject to the risk that changes may occur after the reports are issued and the description of controls may no longer accurately portray the system of internal control. For these reasons, such projection of information to future periods would be inappropriate.
  5. PwC will be entitled to the benefit of and to enforce these terms.
I accept

1. Select your country

  • United Kingdom
  • Austria
  • Australia
  • Belgium
  • Denmark
  • Finland
  • France
  • Germany
  • Iceland
  • Ireland
  • Italy
  • Luxembourg
  • Netherlands
  • Norway
  • Singapore
  • Spain
  • Sweden
  • Switzerland
  • USA
  • Other

2. Select your investor type

  • Financial Advisor
  • Discretionary Investment Manager
  • Wealth Manager
  • Family Office
  • Institutional Investor
  • Investment Consultant
  • Charity, Foundation & Endowment Investor
  • Retail Investor
  • Press
  • None of the above

3. Accept our terms and conditions

By clicking Proceed I confirm I have read the important information and agree to the terms of use.


The Hermes Investment Management website uses cookies to remember your preferences and help us improve the site.
By proceeding, you agree to cookies being placed on your computer.
Read our privacy and cookie policy.

Vista UK Residential Real Estate

Institutional access to the UK residential sector

A joint venture with Countrywide PLC

Home / Vista UK Residential Real Estate Strategy

The Vista UK Residential Real Estate Strategy is managed by the unique and experienced partnership of Hermes and Countrywide PLC, who are ideally placed to provide rare access to the untapped opportunities in the UK private rental sector.

As more institutional investors are being drawn to the strong, uncorrelated returns available from UK residential real estate, this fund aims to provide access to private rented sector investment in Greater London and growing regional UK towns and cities that are expected to offer value and growth potential.

The complement of Countrywide's property management skills and resources with Hermes expertise in managing real estate investments facilitates the acquisition and responsible delivery of modern, purpose-built housing through clear property investment principles.


Objective: to offer a robust approach to capturing the strong and uncorrelated returns that UK residential property can consistently deliver

Why Vista UK Residential Real Estate strategy?

  • Rare access: providing the scale, expertise and resources to allocate to an attractive but previously inaccessible market – the UK private rented sector.
  • Strong, uncorrelated returns: residential property has outperformed all UK real estate sectors for more than a decade while exhibiting low correlations.
  • Strategic partnership: with a shared focus, Hermes and Countrywide plc bring deal-sourcing capabilities, investment expertise and administrative scale.
  • National scope: investing across the UK while applying tested responsible property investment principles and setting fair rents.
  • Solid foundations: rising demand, constrained supply and political support for greater PRS investment support the market.

Investment Approach

Hermes and Countrywide plc combine the skills and resources to identify, acquire and manage assets that meet the fund’s return objectives and deliver modern purpose-built PRS housing. As fund manager, Hermes assesses each opportunity: its price, ability to attract tenants and generate strong net income yields, and its contribution to a balanced portfolio.

Key considerations include diversification of assets across the UK, a balance of income-producing and growth assets and appropriate development risk. Hermes applies tested principles of responsible property management to increase the investment returns and environmental efficiency of real estate assets, and ensuring they positively impact local communities.

An introduction to the Vista UK Residential Real Estate strategy