Quintain buys London property firm Grafton Advisors

UK group Quintain Estates & Development has acquired the specialist central London strategic property adviser, Grafton Advisors for a cash amount of £5.75 mln (EUR 7 mln).

Grafton’s principal activity is to act as property adviser to the West End of London Property Unit Trust (WELPUT), an institutional investment fund that owns a high-quality portfolio of predominantly office properties in London’s West End. Schroders acts as manager to the fund which has gross assets of £872 mln.

Through the acquisition, Quintain has increased assets under management to £2.3 bn, surpassing its strategic target of £2.0 bn 12 months ahead of schedule. The transaction will also increase the group’s recurring income and add a second pooled investor fund to its fund management business alongside Quercus, Quintain’s long-term healthcare fund.

The Grafton management team, comprising Nigel Kempner, Paul Connellan and Christopher Cope, will join Quintain together with three employees.