Sibner Investment Management
Residential Debt Platform
Ashen Capital acquired a minority investment into Sibner Investment Management (“SIM”) in January 2025.
SIM is a subsidiary of Sibner Group, a substantial privately owned real estate owner with a long track record of residential property ownership. It is a leader in lending senior, secured loans to SME housebuilders across the UK.
Ashen supported (and continues to support) SIM in its launch of the Sibner Real Estate Debt (UK) LP (a residential development debt fund) by providing non-executive and governance advice to the fund manager entity as well as making a material investment into the fund itself. The fund will focus on senior ranking development and bridging loans and is targeting high net worth investors, wealth managers and family offices.
Merrow Wood
Residential Land Promotion Business
Ashen Capital and the founders of Merrow Wood launched a new business in May 2025 with a focus on acquiring or promoting land through the planning system for residential.
The business, under the Merrow Wood brand, is aimed at working with landowners to deliver a suitable planning permission on sites that are locationally sustainable and with the most housing need. Merrow Wood has been seeded with an initial c. £2m of equity to promote land in five locations in the southeast of England, which together should enable the delivery of c.500 houses over the next five years. Over the next two years, the Merrow Wood equity commitment from the parties will increase to up to £5m, which they believe will enable them to deliver up to 1,500 homes.
The business will support one of the Governments’ core missions; by helping to enable its target to deliver 1.5 million new homes over this Parliament, through enabling suitable sites before exiting to housebuilders.
Oren Properties
Income-Backed Industrial Business
Ashen Capital is a founding shareholder of Oren Properties, an industrial property company who specialises in industrial and warehousing in London and the South-East.
The business is the new company of Andy Gulliford and Mike Logan, who have known each other and worked together for 20 years. Andy was with SEGRO Plc (formerly Slough Estates) for 19 years, the last decade as Chief Operating Officer and Main Board Director. Mike was a Partner with Nabarro (latterly CMS) for 25 years and led the firm’s real estate practice as both an Executive Committee and Board member.
The business operates in a severely constrained market in terms of supply, capitalising on high occupier demand from a wide range of companies in order to secure enhanced rental income and capital appreciation. The business is creating an investment portfolio comprised of smaller, individual properties in and around London stretching from the suburbs to 40 miles outside of the M25.
