Landmark completes £5m ground rent purchase
Landmark Investments Group, which this year celebrates 15 years in business, today announced it has completed the purchase of a commercial ground rent portfolio for £5,038,000.
The ground rent purchase is spread over five assets:
- A large multi-let industrial estate in Ellesmere Port
- Two 120 bed BUPA Care Homes in Norfolk
- Converted Mill in Ellesmere Port
- Shopping Precinct with an Aldi and Poundstretcher in Redcar
Mark Hawthorn, director, Landmark Investments Group said: “Having put £101 million of ground rent deals in lawyers hands to our last financial year end in September, completing on this purchase is a great start to the year.
“We continue to lead the market and commercial ground rents are a big growth area for us. We are working closely with vendors, lenders and agents across a range of other opportunities nationwide. The portfolio presents some great asset management angles and we expect it to perform well going forward.”
Scott Gemmell of property consultant JLL Manchester advised Landmark Investments Group on the deal and JLL has been retained to help find further commercial ground rent opportunities for the business.
Scott Gemmell, director – valuation advisory, at JLL said: “These strategic investments will provide both stable returns and some underlying opportunities to add value. Landmark Investments is taking a pioneering approach in the commercial ground rent market and we’re looking forward to working closely with Mark Hawthorn and his team as they continue to build their portfolio.”
Established in 2000, Bolton based Landmark Investments Group main area of activity is the acquisition and management of residential and commercial ground rents. The activity covers Landmark’s own growing portfolio as well as deals for a number of retained clients.
The investment was featured in the Manchester Evening News, Insider and Place North West