Braemar Estates wins mandate for Leeds scheme

BRAEMAR Estates, the property asset management arm of Braemar Group, has been appointed as Managing Agent for The Gateway development in Leeds – the largest residential-led, mixed use site to be built in the city centre.

The Gateway consists of 552 residential apartments and a 215 bed hotel, retail and commercial space. It won ‘Best City Centre’ development in 2007. The development was built in 2005/2006 for a contract sum of circa £75m.

Hale-based Braemar Estates now manages a portfolio of approximately 4,000 residential properties with a combined worth of over £750 million.

James Agar, development director of Braemar Estates, said: “The Gateway represents our first movement into the Leeds market, following the success we have had in Manchester, Liverpool and Birmingham.

“As a result of this instruction, the Group’s assets under management are now approaching £800m, and this appointment adds to our portfolio of large scale, residential led, mixed use developments.

“We will be using The Gateway as a springboard to drive our block and lettings management business within Leeds and the wider Yorkshire region. Our aim for 2011 is to break the £1bn threshold of assets under management, through large scale corporate or institution instructions and through ground rent acquisitions within our Guernsey-based investment fund.”