The Nick Tyrrell Research Prize

The Nick Tyrrell Research Prize is awarded annually to innovative and high-quality, applied research in real estate investment. It was established in 2011 by the IPF, INREV and SPR  in memory of the work and industry contribution of Nick Tyrrell, who passed away in August 2010. Nick Tyrrell was Head of Research and Strategy and a Managing Director in J.P. Morgan Asset Management’s European real estate division. His research work was characterised by a combination of academic rigour and practical relevance.

The Prize includes a Prize of £2,000 (£1,000 for the under-35 award, which was created in 2016) and publicity for the winners via the three sponsoring organisations. The Prize is funded by the Nick Tyrrell Memorial Fund, which is supported by the three sponsoring organisations and administered by the IPF.  An outline of the prize is provided below.

Overview of Nick Tyrrell Research Prize 1


Submissions for 2022 Prize
The deadline for the 2022 Prize will be 15 October 2022 and all submissions should be made through the secretariat for the Prize, Iryna Pylypchuk. Email: [email protected]

Nick Tyrrell 2022 Prize Guidelines


Most recent Prize winners

The 2021 Research Prize has been awarded to joint authors Franz Fuerst, Nick Mansley and Zilong Wang of the Department of Land Economy, University of Cambridge.

Entitled ‘Do Specialist Funds Outperform? Evidence from European Non-listed Funds’, their paper (an abstract of which is available below) explores the extent to which specialisation can lead to outperformance for European non-listed real estate funds. Based on an analysis of the performance of 592 funds over nearly two decades between 2001 and 2019, the research concludes that both country specialisation and a combination of a country and sector specialisation are indeed associated with superior performance, but that sector specialisation alone is not.

Do Specialist Funds Outperform? Evidence from European Non-Listed Real Estate Funds