Stonehage Property Partners (SPP), the specialist property advisory business of the Stonehage Group, said on Friday that it is planning to expand its property portfolio to £2 bn (EUR 2.4 bn) over the next few years, as international wealthy families continue to increase their exposure to property globally.
Stonehage Property Partners (SPP), the specialist property advisory business of the Stonehage Group, said on Friday that it is planning to expand its property portfolio to £2 bn (EUR 2.4 bn) over the next few years, as international wealthy families continue to increase their exposure to property globally.
The Stonehage Group advises over 1,000 families globally. As part of the group's expansion plans, SPP has recruited Adam Kerr, as a director, from Talisman Capital, the property investment and development company. SPP intends to continue expanding its team as it adds to its property portfolio.
SPP has been investing in and managing property for the past five years and has completed over 30 transactions across the UK, Germany, Israel, Switzerland, Jersey and South Africa.
The firm said it will continue to seek international property investment opportunities, although the UK will be a primary focus with London and the southeast a particular area of interest. SPP will invest both on a syndicated basis or directly on behalf of individual family interests that are typically seeking investments in the range of £5 mln to £25 mln.
Eric Fisher, SPP director: 'There is real appetite from our clients to invest in property as a safe haven in the still fragile global environment. Property delivers strong and sustainable income allied to long-term capital growth and our clients have a strong affinity to own bricks and mortar. Despite the recent recovery in some areas, prices are still at a low point in the cycle, particularly when you factor in the devaluation of sterling for overseas buyers. The next three years present a good time for our clients to invest in property to benefit from market recovery.'
