Old Craigard concludes ..... New Craigard moves forward
Newly-branded Craigard has concluded its re-structure by selling out the final three properties in its original, directly owned Craigard Investments portfolio. The three individual sales were made for a total of just over £3.1million.
Hampshire House in Southampton City Centre has been purchased by Frontier Property Investments for £1.25million. Althea in Burton on Trent was sold for £725,000 and Ailsa in Solent Business Park for £1.19million, both to private investors. LSH acted on Ailsa and jointly with Osmond Brooks on Hampshire House.
Craigard previously invested and managed property with it's two founding investors under the Craigard Investments brand. The sale of these last three assets sees a happy end to this era for the company with original partners Atkins and Deeley seeing a healthy return, having ridden out the recession. Craigard, now owned solely by the Foster family, is now focusing on its highly successful property syndications business. It currently has 18 assets worth around £40m under asset management. Atkins and Deeley have continued to invest in new syndicate deals.
“We are delighted to have sold the last three properties from the Craigard Investments umbrella and I’m very excited about our future plans for Craigard,” comments Paul Foster. “Evolving the syndications business was an active and amicable step away from our old arrangements as Craigard Investments. We are producing impressive results as Craigard, and are starting up a fund side to the business to allow us to offer investors a longer term option to hold assets for mid-term investment alongside trading out."