Braemar breaks ?1bn assets under administration

RNS Number : 0522C

Brooks Macdonald Group PLC

11 April 2013

 



11 April 2013

BROOKS MACDONALD GROUP PLC

Braemar Estates breaks £1bn assets under administration

Brooks Macdonald Group plc (the "Group"), the AIM listed integrated wealth management group, today announces that its specialist property management division, Braemar Estates, has reached the landmark figure of £1 billion in assets under administration. 

The business has grown significantly over the last few years following its acquisition by Brooks Macdonald Group plc in July 2010. During that period it has been appointed to manage a number of high profile buildings including some of the country's largest and most complex residential assets.

The £1bn property portfolio comprises some of the UK's most iconic residential properties including Cathedral Group's award winning Clapham One in London, Grosvenor's One Park West in Liverpool and the high-rise Beetham Towers in Manchester and Birmingham. 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.

James Agar, Investment Director of Braemar Estates, comments: "We are delighted that we have reached this milestone which 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 plc (GRIF), a listed Real Estate Investment Trust, launched in 2012."

Braemar Estates has invested heavily in people and technology to support its continued growth. The business has also embraced the power of social media and continues to use these channels as a platform to communicate with residents and investors at developments throughout the country.

Enquiries:

Brooks Macdonald Group PLC

Chris Macdonald - Chief Executive                                                           020 7499 6424

Simon Jackson - Finance Director                                                          www.brooksmacdonald.com

Braemar Estates                                                                                  0161 929 2300

James Agar - Investment Director

Julie Serrage - Marketing

MHP Communications

Reg Hoare / Barnaby Fry / Simon Hockridge / Giles Robinson                   020 3128 8100

Notes to Editors:

Brooks Macdonald Group plc

Brooks Macdonald Group plc is an AIM listed, integrated, wealth management group. The group consists of six principal companies: Brooks Macdonald Asset Management  Limited, a discretionary asset management business; Brooks Macdonald Funds Limited, a fund management business; Brooks Macdonald Financial Consulting Limited, a financial advisory and employee benefits consultancy; Brooks Macdonald Asset Management (International) Limited, a Jersey and Guernsey based provider of discretionary investment management and stock broking; Brooks Macdonald Retirement Services (International) Limited, a retirement planning services provider and Braemar Estates (Residential) Limited, an estate management company

Braemar Estates

Braemar Estates is the specialist property management division of Brooks Macdonald Group plc. It manages a diverse leasehold portfolio of 4,625 residential properties, with a combined worth of £1bn, in the UK on behalf of freeholders and leaseholders. In addition, it provides a full management service to the property funds operated by Brooks Macdonald Funds.

Brooks Macdonald Group plc ("BMG") is an AIM listed, integrated, wealth management group formed in 1991. As at 31 December 2012, the group had £4.62 billion of discretionary funds under management. BMG has offices in Hale, London, Hampshire, Manchester, Tunbridge Wells, Edinburgh, Taunton, York, Jersey and Guernsey.

www.braemar-estates.com

 

END

 

 

NRAZMGMDDGFGFZM