Mark Hawthorn

Profits up at Landmark

Bolton-based Landmark Investments Group has announced pre-tax profits of £2.9m to the year end September 2014, up from £1.2m in the previous year.

Landmark, which was founded in 2000 by Mark Hawthorn, said that it completed 171 transactions over the course of 2014, with 200 projected for 2015.

Deals included a £6m portfolio sale in the summer at a 3% yield.

In 2014 Landmark agreed a refinancing package to provide more than £10m of capital to invest in ground rents.

Landmark also exited its first non-property investment, ThermaVein, with a sale to its management team.

Landmark Investments Group's main area of activity is the purchase of ground rents, also known as the freehold, of residential and commercial properties.

Mark Hawthorn, director, said: "As we enter our 15th year of business it is pleasing to see the portfolio perform and grow as we expect. We continue to innovate within our field and are well recognised for being both proactive and pragmatic in our dealings. In the low interest rate environment the value of stock is continuing to improve and we're as competitive as the much larger institutional style investors who have entered the market.

"While the profit is pleasing, our overriding focus is to continue to grow the portfolio and the profits will always follow. We are very lowly geared at present, well under 30%, which allows us a sizable amount of spending power when required. We fully anticipate our portfolio value exceeding £25m in 2015 and we can go much higher should the opportunities be there."

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