Braemar’s property portfolio breaks £1bn

David McCourt

Property manager Braemar Estates' assets under administration have reached £1bn, following strong growth since its acquisition by Brooks Macdonald Group in July 2010.

Braemar Estates manages a total of 63 residential blocks across the UK containing 4,625 units, as well as acting as ground rent collection agent for a further 5,021 units.

Its property portfolio includes Cathedral Group's Clapham One in London, Grosvenor's One Park West in Liverpool and Beetham Towers in both Manchester and Birmingham.

James Agar, investment director of Braemar Estates, said: "This milestone puts Braemar Estates amongst the ranks of the preeminent residential property managers in the country and underlines the strong period of growth which we have seen over the last few years.

"Over the next few years we expect the business to continue to grow rapidly thanks to our professional relationships, and particularly our role as property and investment adviser to Ground Rents Income Fund, launched in 2012." James Agar

Guy Butler, projects director at Grosvenor Developments, said: "At One Park West, Grosvenor has exacting standards for its flagship £70m residential scheme within Liverpool ONE, and Braemar has exceeded expectations in taking over the management at the building.

"Braemar's attention to detail on accounting and technical matters have helped us in our continual desire to raise the standards at the building, whilst controlling costs and maintaining a safe environment for the residents and staff. We are pleased that Braemar are part of the team employed at the building and we hope to grow the relationship elsewhere within our estate."

Hugh Frost, chairman of Beetham organization, said: "It comes as no surprise to me to learn that Braemar Estates has reached the milestone achievement of having £1bn assets under administration, and it has been a pleasure to have been involved with the business as it has grown consistently over the past few years.

"Beetham's involvement with James and his team on large scale residential towers, which we have developed, has been extremely positive and their lettings department has consistently delivered excellent levels of occupancy, achieving rental growth ahead of RPI across our portfolio.

"I'm sure the business will continue to be successful and develop over the coming years and I wish them every success."One Park West Liverpool

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