Irwin Mitchell Advises Landmark On Latest Ground Rent Purchase Deal Helps Take Landmark’s Ground Rent Portfolio Past 10,000 Properties 25.04.2013 By David Shirt The Manchester office of law firm, Irwin Mitchell, has advised Landmark Investments Group on a deal which sees the Bolton-based business purchase the ground rents for more than 600 properties across Salford. Acquired from regeneration specialist, LPC Living, the portfolio consists of a number of sites including Hulton Square and Radclyffe Park. Patrick Sheehan, a Real Estate associate at Irwin Mitchell who acted for Landmark on the deal, said: “This is a significant boost for Landmark which takes its commercial and residential ground rent portfolio over 10,000 units, with a value of approximately £12million. The company is clearly ambitious and we are delighted to have advised and supported the deal.” Mark Hawthorn, managing director, commented: “Although the price paid is very strong and was done via competitive tender, we are happy with our purchase. The profile of the stock sits very well within our larger portfolio and will perform very well over the life of the asset. “The purchase, along with a number of other recent acquisitions, has pushed our portfolio over 10,000 units, which is a significant stage in our business growth plan. We are geared around 55 per cent and are now using private funds as opposed to bank debt which gives us far greater flexibility and spending power. “The purchase was complex due to the size of deal, but both lawyers were prepared to work late to ensure a quick completion was effected.” Read more about Irwin Mitchell's expertise in relation to Real Estate work Press contact Dave Grimshaw Press Officer 0114 274 4397 Email Dave Tags Real Estate Manchester Patrick Sheehan Related articles 20.03.2019Government Issues Recommendation for Leasehold Reform 15.03.2019Irwin Mitchell Recruits Hundreds Of Volunteers For Red Nose Day 2019 15.03.2019Irwin Mitchell Scoops Hat-trick At Birmingham Law Society Legal Awards 13.03.2019Sheffield City Region Launches Global Innovation Corridor At MIPIM 2019 08.03.2019Irwin Mitchell Launches Women in Law Timeline 05.03.2019Does A Rest Break At Work Have To Be Continuous?