Property briefs: Sutton Kersh teams up with Auction Finance; New deal for Braemar
MERSEYSIDE’S Sutton Kersh Auctions has teamed up with short-term lender Auction Finance to offer funding for property investors.
The agreement means investors can obtain funds from Auction Finance, often within 24 hours of an auction purchase, ensuring they can meet the tight completion deadlines required by auction houses.
James Kersh, director of property auction house Sutton Kersh, said: “Having a dedicated funding team at our auctions helps property investors, who are looking for ways to secure quick funding, either before or during an auction, so that they can bid in confidence.”
Scott Hendry, national development manager at Auction Finance, said: “Having funds in place enables investors to purchase their desired property and to reap the rewards of a good investment opportunity.”
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HALE-based Braemar Estates has been appointed as adviser and property manager to a new ground rents company.
It has been hired by the Channel Islands-listed Ground Rents Income Fund(GRIF), incorporated to acquire a portfolio of long-dated freeholds and head leases.
Braemar is the property management division of Brooks Macdonald Funds, the AIM-listed integrated wealth management group.
It will will be involved in the acquisition and due diligence process for GRIF.
Investment director James Agar said: “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.”
He added: “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.”
