Braemar Estates hits £1bn property assets landmark

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PROPERTY manager Braemar Estates said yesterday that its assets under administration has reached the landmark figure of £1bn.

The portfolio includes a total of 63 residential blocks across the UK containing 4,625 units.

The company acts as ground rent collection agent for a further 5,021 units.

James Agar, investment director of Braemar Estates, said: “We are delighted that we have reached this milestone which puts Braemar Estates amongst the ranks of the pre-eminent residential property managers in the country and underlines the strong period of growth which we have seen over the last few years.

“Over the next few years we expect the business to continue to grow rapidly thanks to our professional relationships, and particularly our role as property and investment adviser to Ground Rents Income Fund plc, a listed real estate investment trust, launched in 2012.”

Braemar Estates manages developments across Yorkshire from an office in Leeds on behalf of freeholders and leaseholders.

These include the Gatehaus development in Bradford, an apartment complex in Little Germany with 142 residential units and one commercial unit, Gateway in Leeds, which has 503 apartments with office, retail and an Ibis Hotel, and Freedom Quay in Hull, which has 70 apartments.

Ground Rents Income Fund acquired the Gateway for £2.4m in January.

Braemar Estates announced yesterday that it will take on the management of Greenhouse, an award-winning eco-friendly development in Leeds, which has 172 apartments and 15,000 sq ft of commercial space.

Braemar Estates is the specialist property management division of Brooks Macdonald Group, the Aim-listed wealth management group.

As of December, the group had £4.62bn of discretionary funds under management.

It has offices in Hale, London, Hampshire, Manchester, Tunbridge Wells, Edinburgh, Taunton, York, Jersey and Guernsey.

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