Landmark completes £5m ground rent purchase

Landmark Investments Group has acquired a commercial ground rent portfolio, including two sites in Ellesmere Port, from London-based property company Carmel Southend.

Carmel Southend brought to market a diverse portfolio called Primrose, via agent CBRE. Landmark acquired five of the assets in the portfolio. Carmel Southend has now refinanced and retained the rest.

The ground rent purchase is spread over five assets:

  • A large multi-let industrial estate, Poole Hall, in Ellesmere Port
  • Two 120-bed BUPA Care Homes in Norfolk
  • Stanney Mill, converted industrial and office space, in Ellesmere Port
  • Shopping Precinct with an Aldi and Poundstretcher in Redcar

Mark Hawthorn, director, Landmark Investments Group said: “Having put £101m of ground rent deals in lawyer’s hands to our last financial year end in September, completing on this purchase is a great start to the year.

“We continue to lead the market and commercial ground rents are a big growth area for us. We are working closely with vendors, lenders and agents across a range of other opportunities nationwide. The portfolio presents some great asset management angles and we expect it to perform well going forward.”

Scott Gemmell, valuation director at JLL Manchester, advised Landmark Investments Group on the deal. JLL has been retained to help find further commercial ground rent opportunities for Landmark.

Gemmell said: “These strategic investments will provide both stable returns and some underlying opportunities to add value. Landmark Investments is taking a pioneering approach in the commercial ground rent market and we’re looking forward to working closely with Mark Hawthorn and his team as they continue to build their portfolio.”

Established in 2000, Bolton based Landmark Investments Group main area of activity is the acquisition and management of residential and commercial ground rents. The activity covers Landmark’s own growing portfolio as well as deals for a number of retained clients.

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