Acquisitions help Landmark double profits

BOLTON-based ground rents investor Landmark Investments Group saw profits double last year after increasing the size of its portfolio.

The business, set up by Mark Hawthorn, said pre-tax profits rose from £458,000 to just under £1.2m in the year to September 30.

Revenues jumped from £986,500 to £1.8m.

During the period Landmark acquired several ground rents portfolios in north Manchester covering around 1,000 properties.

It also acquired sites in London and invested in the worldwide licence for a cosmetic product called ThermaVein which aims to reduce the prominence of veins.

Mr Hawthorn said: “Last year was the most successful yet for Landmark Investments Group, we achieved several major deals including our first commercial ground rent portfolio and diversified outside of property with our ThermaVein operation.”

He added: “We are starting to make real progress with the development of a commercial ground rent model which will allow owners to release additional funds from assets whilst retaining them for the long term.”