Landmark raises £4.5m from Yorkshire Bank

Landmark Investments Group, the Bolton-based ground rent specialist, said it has raised £4.5m from Yorkshire Bank to acquire sites with the potential for a further £50m facility.

The finance deal follows a two-year project involving a multi-disciplinary team from Cowgill Holloway Chartered Accountants.

Mark Hawthorn, director, Landmark, said: "This tranche of funding is a positive result on several counts, after what has been a demanding and dedicated project by all involved. The fund cements Landmark's leading position in a niche sector and demonstrates the stable and valuable nature of our business. We are looking to launch our second, larger phase, early summer."

Landmark said profits have risen 458% since 2008. In the past year, the company increased its ground rent management and insurance portfolio and the range of client services.

Stuart Stead, property partner at Cowgill Holloway, said: "To access this level of finance, on reasonable terms, in the current market is equivalent to raising £50m in the boom years. We are pleased to have been involved and are fortunate to be able to draw on a wide range of internal resources and experience to assist in this type of transaction. We are now looking forward to working on the second, larger phase."

Landmark was represented by Barry Stimpson at law firm DAC Beachcroft LLP.