Archive: May 2015
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Landmark Investments Group record six months
Bolton based Landmark Investments Group, which is celebrating 15 years in business, announced it has agreed £67.237 million on 77 of ground rent deals over the last six months. This was split £34.839 million over 34 deals to December 2014 and a similar £32.398 million over 43 deals to March 2015. The value of the property assets which pay the ground rent is well in excess of £1 billion.
Landmark Investments Group main area of activity is the purchase of ground rents, also known as the freehold, of residential and commercial properties. In January the company announced profits for 2014 of £2.9 million and now has a portfolio approaching 15,000 units.
Ben Ogunby, Acquisitions Director, Landmark Investments Group said: “We have been so busy acquiring ground rents, we weren’t really keeping count, so were very pleased when we ran the numbers. We are able to transact across the whole spectrum from very small deals through large commercial ground rents to national portfolios. We have our own funds and are retained to acquire, advise and manage stock on behalf of a substantial private client. We fully expect to transact in excess of £100m of stock in 2015 with £135/140m within reach.”
Mark Hawthorn, Managing Director, Landmark Investments Group added: “This is a real milestone for us. We have recently moved to new offices, our tenth move in 15 years, which will allow us to further develop and grow. There are a lot of opportunities around in the ground rent and wider property markets at the moment which after the last seven or so years is pleasing to see. We continued to grow throughout the downturn and are looking forward to our next phase of development.”
The news was covered by Insider, Place North West, The Businessdesk and Greater Manchester Business Week.
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Morgan Hunt move to Acresfield
Acting on behalf of the Aberdeen Asset Management, our client OBI Property has announced recruitment company Morgan Hunt is to move its Manchester office into 4,187 sq ft on the 2nd floor of the recently refurbished Acresfield, St Ann’s Square, Manchester. The firm has taken a five year lease with a break at year three, at £16.50 per sq ft.
Morgan Hunt, which also has offices in Birmingham and London, is moving its Manchester office to Acresfield from 49 Peter Street. They chose the location and building to support the delivery of their current and future expansion requirements.
Andrew Spencer, Finance Director, Morgan Hunt said: “The space at Acresfield fits our business perfectly, it’s in a great location not just for our staff but for our clients and candidates who frequently visit us. The breakout area at the back of the building provides a real centrepiece to the whole scheme and it made the building stand out from the other options we considered.”
Savills are joint letting agents on the building.
The building has recently been transformed following a £1.5 million refurbishment and is now one of the most desirable offices in the city centre with stunning new reception and showpiece internal atrium area providing an impressive breakout area.
The transaction follows on from the lease renewals agreed at the end of 2014 with Tushingham Moore and Christie’s, who occupy suites of 4,529 sq ft and 2,125 sq ft respectively.
Richard Lace, Lead Consultant in the Transactions & Asset Management Team at OBI Property said: “Since launching Acresfield in October there has been significant interest in the workspace. The building provides highly efficient, air-conditioned accommodation that has wide appeal across a number of business sectors. We expect to announce another new tenant in the next couple of weeks.”
The news was reported by Place North West.