SIR Tom Hunter is sitting on a £75 million gain on his investment in a commercial property venture after selling a raft of shares.
The Ayshire entrepreneur sold the bulk of his holding in the Secure Income REIT, which owns the Alton Towers theme park and 20 hospitals.
The sale allowed Sir Tom to lock in some of the gains he has achieved after making a bet on the long term prospects for commercial property through the vehicle, developed with sector veteran Nick Leslau.
Sir Tom has shown faith in the potential of the firm to generate strong returns in future by retaining a seven per cent holding, valued at £34m.
"Nick and the Team have done a terrific job and that's why we are leaving a substantial portion of our investment in for the long-term," said Sir Tom.
The gain will provide the businessman with some compensation for the losses he sustained following what he has said was a badly timed move into residential property.
After making around £290m from the sale of his Sports Division business to JJB in 1998, Sir Tom invested in housebuilders through West Coast Capital Holdings.
The venture suffered hefty losses on its investments in firms such as McCarthy & Stone and Crest Nicolson after the housing market went into reverse in 2007.
Sir Tom acquired his holding in Secure Income REIT for £34m. The company listed in 2014 after acquiring a portfolio he developed with the Prestbury business led by Mr Leslau.
Sir Tom has been involved in a series of property deals with Mr Leslau since 2001, when the two men launched a £166m joint venture to buy three major commercial properties, including the Babcock industrial estate next to Glasgow airport.
He sold shares in Secure Income REIT to institutions as part of a £280m secondary placing, which allowed the company to broaden its shareholder base.
The placing was completed at 255p per share, at the middle of the expected range of 250p to 260p. It gave the company a market capitalisation of around £460m.
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