Landwood sees more investors returning to market

The company, which specialises in asset valuation, management and disposal, said investors were returning to the market and its property management division was expanding.

Managing director Richard Parkinson, who runs the firm’s Leeds office, said in the last 12 months investors had returned to the market as the economy improved and were now snapping up property and other assets like machinery.

He said: “As we see things improve in the economy, we see more people buying assets. The momentum has started. It’s like dipping your toe in the water. Nobody wants to be the first to do it, but when everyone realises it’s started, nobody wants to miss out.”

The company, which deals with assets ranging from £20,000 houses to £20m distribution centres, has grown by 50 per cent in the last 12 months and is forecasting a £2m turnover this year.

Recent sales include unwanted plant and machinery assets from machine toolmaker 600 Group in Heckmondwike and Matmer House on Hull Road in York.

Earlier this year, it sold 22 student properties across Leeds on behalf of fixed charge receivers at Begbies Traynor.

The company also sells assets, such as cars, on behalf of the Serious Organised Crime Agency.

One particular area in which the company is keen to expand is property management. Landwood manages hundreds of commercial and residential properties in the region, including a business centre in Mexborough, South Yorkshire, and 55 houses in Middlesbrough.

“When we set up we didn’t think we would do so much property management but now it’s an area we want to expand in,” said Mr Parkinson. “It provides us with a regular flow of work when other areas of the market go up and down.”

Building surveying is another area the company is considering moving into. At the moment it contracts out the work but Mr Parkinson said he was considering moving the operation in-house.

The company, which was founded in Manchester in 2008, also has offices in Birmingham and London.

Mr Parkinson said: “We take opportunities where the work arises and whatever happens, there is always a level of insolvency in the market.”

He added: “The London residential market is going through the roof. An agent will come along and say how much something is worth and then it is sold for £70,000 more.

“Something is happening in London that we are not finding in this part of the world but what we are seeing in Yorkshire is more buyers than before.

“There seems to have been a sea change. There is more interest – the phones are ringing and there is more activity in the market.

“There are still bargains to be had but they tend to be at auction and sites that no-one else spots. But these are becoming rare and our role is to get the best price possible.”

He added: “We are seeing some bank lending but those getting it have to be switched on and they only want to deal with experienced investors.”

Looking ahead, he said: “Over the next year I think we’ll see continued recovery and hopefully more optimism in the market.”

Going back to his roots

Landwood Group was launched in Manchester in 2008 by Richard Parkinson and Mark Bailey to specialise in asset valuation, management and disposal.

The pair were former directors at SHM Smith Hodgkinson, Mr Parkinson in Leeds and Mr Bailey in Manchester.

The company set up its Leeds office last year, led by Mr Parkinson. “It was a natural fit in the business because we knew the Leeds market well,” said Mr Parkinson.

“We had got to the stage in Manchester where we had developed and we were getting work in Yorkshire. We thought it was a great opportunity to expand back to my roots.”