Braemar Estates Appointed to Manage New Ground Rents Investment Company
Property manager, Braemar Estates, today announces it has been appointed as property manager and adviser, to manage the portfolio of Ground Rents Income Fund plc (“GRIF”).
GRIF is a newly formed, listed, closed-ended company incorporated to acquire a portfolio of long-dated freeholds and head leases. The company will offer investors the potential for income generation and capital growth from ground rents. GRIF is expected to be capitalised at around £50.0 million.
James Agar, Investment Director of Braemar Estates, commented:
“We are delighted to have been appointed to manage and advise GRIF, the appointment is a reflection of our position in the market as one of the country’s leading specialist residential property managers with particular expertise around ground rents.
The Estates business will play a key role in the acquisition and due diligence process as GRIF looks to invest heavily in the sector in the next 12 months. Our track record of sourcing and completing large and often complex transactions is well known and this ability to perform is key to vendors of all types, from house builders to administrators.
This instruction will facilitate an unprecedented period of growth for the business as we look to expand both in terms of head count and geographically, whilst continuing to provide both commercial and long leasehold clients with a transparent technology-focused, value adding management service.”
For further information please contact:
James Agar, Investment Director, Braemar Estates
Tel: 0161 929 2300
Julie Serrage (Marketing) Tel: 0161 929 2300
To view the press release, please click here.