The firm said in a statement that it has made a strategic decision to return to the UK commercial property market after focusing its acquisition strategy abroad since early 2005.

The downturn, coupled with the need for some asset managers to liquidate property portfolios, is beginning to offer exceptional value in UK commercial property, Stenham said. Mr Taylor joined the company to help take advantage of this.

“For the past few years, we have concentrated our investment activity in markets other than the UK – primarily in Germany, Switzerland and Japan. We again feel that there are significant opportunities arising in the UK commercial property sector to acquire properties offering exceptional value,” said Paul Arenson, managing director of Stenham Property.

“Andy brings with him a wealth of talent and expertise both in acquiring and asset managing UK property. We are delighted to welcome him to the team.”

The unit has invested in property, primarily by way of closed-ended property funds, for the last 15 years. It currently has approximately £2 billion ($2.95 billion) of property assets under management.

The parent Stenham Group focuses on investment management for high net worth private clients and institutions and currently has approximately $49 billion under management, split between its property and asset management businesses.

The Stenham Group operates from a network of global offices including the Channel Islands and the UK with offices in five other countries around the world.

Stenham in turn is a member of the Peregrine Group, a wealth and alternative asset manager operating across South Africa and Europe, with assets under management of approximately $10 billion.