Property firm acquires 418-site portfolio around Bolton
Bolton-based property firm Landmark Investments has completed a complex ground rent portfolio of more than 1,800 residential and commercial properties across 418 separate sites, covering hundreds of acres of land in and around Bolton.
The acquisition also included more than three million square feet of industrial estates, mills, medical centres, retail parks and car parking, as well as a large number of residential sites.
The company also acquired a number of vacant lots it hopes to bring forward as development sites.
Patrick Sheehan, commercial real estate partner at law firm TLT, who assisted with the transaction, said: “The purchase once again demonstrates the capabilities of the Landmark team to work with the complexity of such a large and diverse portfolio.
“This covers not only the initial review and pricing, but also the legal process and post-completion asset management.”
Mark Hawthorn, Landmark Investments chief executive, said: “Whilst we buy nationally, this portfolio was literally on the doorstep – ie it included the freehold to our own offices – so we knew many of the assets already and quickly formed a strategy.
“The purchase of this complex portfolio showcases our ability to proceed where others can’t or won’t.
“In our 20th year we are only just beginning to realise our true potential, and this acquisition shows we are firmly on track to build our core investment portfolio towards £150m of value in the coming months.”