AT KILLIK & Co, Mick Gilligan sees the best prospects in small foreign funds which might appeal to investors prepared to go outside the mainstream.
In Europe, he likes Develica Deutschland, targeting a 6% dividend from German properties when fully invested, and Invista European Real Estate Trust, a wholly-owned subsidiary of Invista Group, a company recently extracted from HBOS group.
Develica is listed on AIM, London's junior stock market, Invista European on the main market.
For Central and Eastern Europe, Mr Gilligan likes Atlas Estates, with Warsaw's Hilton Hotel in its portfolio. In India, he's a fan of Trinity Capital, still below its £1 launch price in April 2006.
As AIM minnows, both are ineligible as ISAs, and clearly riskier than investments in commercial property actually needs to be.
