Archive: Jan 2015
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Landmark Investments celebrates 15 years
Landmark Investments Group, which this year celebrates 15 years in business, announced this week it achieved pre-tax profits of £2.9 million to year end September 2014, up 142% (from £1.2 million) on the previous year.
Set up in 2000 by, then aged 19, Mark Hawthorn, Landmark Investments Group main area of activity is the purchase of ground rents, also known as the freehold, of residential and commercial properties.
Mark Hawthorn, director, Landmark Investments Group said: “As we enter our 15th year of business it is pleasing to see the portfolio perform and grow as we expect. We continue to innovate within our field and are well recognised for being both proactive and pragmatic in our dealings. In the low interest rate environment the value of stock is continuing to improve and we’re as competitive as the much larger institutional style investors who have entered the market”
Highlights of the year included:
- 171 transactions completed in 2014, with over 200 projected for 2015
- Commercial ground rent creation and acquisition is now forming a rapidly growing part of the business as property owners become aware of the options available to them
- In the summer, Landmark sold a £6m portfolio at 3% yield and received a refinancing package to provide over £10 million of capital to invest in ground rents
- The company entered a strategic partnership which allows Landmark to do much larger deals on behalf of the partner. Last year these deals totalled £81m with £110m targeted for 2015
- Successfully exited first non-property investment, ThermaVein, with a sale to its management team
Mark said: “While the profit is pleasing, our overriding focus is to continue to grow the portfolio and the profits will always follow. We are very lowly geared at present, well under 30%, which allows us a sizable amount of spending power when required. We fully anticipate our portfolio value exceeding £25m in 2015 and we can go much higher should the opportunities be there.”
Landmark Investment Group’s impressive results were reported in the Manchester Evening News and Place Northwest
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Mark Hawthorn joins Insider DNA of Entrepreneur Panel
Our client Mark Hawthorn, director, Landmark Investments Group will be joining the panel for the Northwest Insider DNA of an Entrepreneur breakfast being held on Friday 6 Februrary 2015.
Mark is celebrating 15 years in business in 2015 and will be sharing his experiences and insights at the event.
For more information about the breakfast please visit Insider here.
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Businesses flock to former ITV and Granada Studios
Our client OBI Property today announced 65,000 sq ft of work space has been let at the former ITV and Granada Studios since May last year to 20 different companies. Businesses have moved into three buildings on the estate: HQ Building, Hello House and 88-100 Quay Street.
All the companies have moved into the space on flexible leases, the largest deals being Horwich Cohen Coghlan Solicitors and Shoosmiths Solicitors who have taken 16,500 sq ft each in HQ Building, and Claims Advisory has taken 15,980 sq ft in 88-100 Quay Street.
OBI Property is the sole leasing agent on behalf of Allied London. Emma Powell, OBI Property said: “The popularity of the space at ITV and Granada not only shows the vitality and demand for flexible work space and leases, but is a very positive sign for the future of the redevelopment of the area. There is still space available, starting from 160 sq ft at sizes to suit any growing business.”
The Build consultancy at OBI Property has managed all the landlord works at Granada HQ and Hello House, including the transformation of the HQ reception and space by space managed the fit out works for new tenants. All the landlord and fit out works were managed by OBI and completed in just 20 weeks and on budget.
The news was featured in the property press including the Manchester Evening News and The Business Desk