Landmark assembles £10m ground rent war chest

LANDMARK Investments Group has agreed a £10m funding to line to buy residential and commercial ground rents.

Landmark recently sold part of its portfolio for £6m to an offshore investment company at a 3% yield and has put this towards new finance with RBS.

Founder and director Mark Hawthorn said: “The recent sale coupled with the new facility means we now have £10m of stock and the same again for new acquisitions. We are seeing a lot of opportunities around the creation of commercial ground rents and the new facilities will allow us to acquire a lot of stock in a relatively short period of time.”

Cowgill Holloway’s property and construction advised Landmark.

The firm’s property finance director Dave Rainford said: “We’ve worked with Mark for several years now and I am very pleased we’ve been able to raise this finance which will help him to grow his business over the next few years. While finance is still tough to come by for a lot of people in the property sector, the deal with RBS shows there’s opportunities out there.”

Landmark’s recent sale included ground rents for 1,368 properties across 33 sites including Cardiff, Bolton, Stockport, St Albans, Croydon, Plymouth, Hull, Colchester and York.