Private education provider Alpha Plus has launched a 5.75 per cent sterling bond, due 2019. The bonds are available to retail investors and are secured against a portfolio of freehold central London real estate comprising a number of the group's schools.

The minimum initial subscription is £2,000 ($3,205), with multiples of £100 thereafter. Interest at 5.75 per cent per annum will be paid in arrears on 18 June and 18 December each year. Investors may sell the bonds at any time on the open market.

Alpha Plus is owned by DV4 Limited which is advised by Delancey Real Estate Asset Management. The group manages a portfolio of school properties, with a current value of £130.7 million on the basis of current use.

Last week WealthBriefing reported the launch of a bond backed by UK real estate used as student accommodation.