Secure 7–8% GBP returns offshore with Westbrooke Yield Plus
Westbrooke Yield Plus is a UK-based private debt investment, offering South Africans access to stable, tax-efficient offshore returns. With a proven seven-year track record delivering 7–8% per annum in GBP, it lends to income-generating UK real estate. Managed by experts with deep market knowledge, Westbrooke Yield Plus provides diversification, capital preservation, and predictable income in a volatile global environment.
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BizNews Reporter
In a world where investment volatility is the new normal, Westbrooke's fund, Westbrooke Yield Plus continues to provide South African investors with a rare commodity: predictability. With consistent returns of 7–8% in sterling, this offshore private debt fund has become an increasingly attractive option for those looking to diversify away from South Africa’s uncertain financial landscape and tap into stable, income-generating UK property investments.
In a recent interview with Alec Hogg of BizNews, Westbrooke’s Dino Zuccollo and James Lightbody offered a comprehensive look into how the fund operates, why it’s performing so well, and what investors can expect going forward.
What is Westbrooke Yield Plus?
Zuccollo, head of investor solutions, explained that Westbrooke Yield Plus is a private debt strategy that lends to property owners in the UK - effectively stepping into the shoes of traditional banks. These are income-producing assets, not speculative developments, and the loans are generally conservative, with a loan-to-value (LTV) ratio of 55–60%.
“Many South Africans have moved capital offshore, but much of it sits idle in cash or equivalents earning just 3–3.5%,” Zuccollo noted. “Westbrooke Yield Plus aims to put that money to work more effectively.”
With a fund size of £180 million and over £400 million in credit extended over its seven-year history, Westbrooke has built a robust, diversified loan book with approximately 40 loans at any one time. The largest loan makes up just 8.5% of the portfolio, helping to mitigate risk.
How Are the Returns Generated?
James Lightbody, Westbrooke UK's head of real estate, brings his experience in merchant banking and private credit to the fore. He explained that the fund focuses on income-based lending - not speculative or development finance - targeting borrowers such as long-standing property groups and private equity investors.
The opportunity arises from the fact that many UK banks have stepped back from smaller property deals (under £20 million), creating a funding gap that Westbrooke Yield Plus is well-positioned to fill. “We’re highly specialised in sub-£50 million income-producing loans,” said Lightbody. “Because it’s so difficult to build in the UK today - due to high construction costs and strict planning - income-generating assets are in high demand, especially in sectors like retail, hotels, and even previously unfashionable areas like Canary Wharf.”
Safety in Volatility
Despite global economic headwinds, the fund has remained remarkably stable. “Even when loans go bad at the transaction level, our investors have never lost money,” said Zuccollo. “The structure, diversification, and conservative lending practices mean that we’re well insulated from downside risk.”
This safety has resonated strongly with investors, especially in a year where geopolitical instability and currency fluctuations - including a strengthening pound -have been top of mind.
“Private market assets offer stability that listed markets can’t,” said Zuccollo. “Even in turbulent conditions, we can find better asymmetry -meaning good returns with low risk - because banks and competitors pull back.”
Is Now the Time?
With interest rates in the UK moderating to 4% after peaking at 5.25%, Lightbody believes Westbrooke Yield Plus is in a “sweet spot.” Borrowers can still afford debt, and the fund remains well-positioned to take advantage of market gaps. “We still see good demand for our type of lending,” he noted.
Zuccollo added that while investors may not necessarily shift out of booming equity sectors like AI, many are rebalancing their portfolios. “A well-rounded portfolio has both equity and debt. In volatile times, the allocation to private credit tends to increase.”
Investment Terms
Minimum investment: £100,000 directly (lower via financial advisers)
Returns: Currently 7.7% last 12-months annualised in GBP
Liquidity: No lock-in; choose between six- or twelve-month notice periods
Tax efficiency: Offshore dividends taxed at 20% vs up to 45% on interest income
Next intake deadline: 23 September 2025
For investors seeking solid offshore returns in a hard currency with downside protection, Westbrooke Yield Plus offers a compelling alternative to both cash and equities. As Zuccollo put it, “It’s one of the few places where your capital can work harder without taking on disproportionate risk.”