Three in a row as Craigard celebrates year two with over £70m in transactions
Southern-based Craigard Investments, the brainchild of former IM Properties Director Paul Foster, is celebrating a triple success, with the appointment of new Partner Patrick Harnan, a move to new offices, and a highly successful end to its second year in existence.
The appointment of Patrick Harnan symbolises the extensive growth that this organisation has experienced since it began in 2005. Patrick specialises in raising finance for property companies and has over 10 years experience as a Chartered Surveyor; recently playing an instrumental role in the Joint Venture between Craigard and Royal Bank of Scotland (RBS). Patrick has worked with a variety of different organisations, (on deals ranging from £2m to £100m) including shopping centres, portfolio’s and a range of commercial and missed use schemes in all sectors. He has specialised in raising higher risk finance with banks, funds and venture capital houses specialising in commercial property to allow Craigard to purchase more aggressively than it has been able to in the past.
Patrick is following in Paul Foster’s footsteps by relocating to the South. “Having worked in central London for almost 10 years, I was keen to improve my quality of life and a move to Hampshire coupled with an opportunity at a fast emerging organisation like Craigard seemed the perfect opportunity,” he comments. “After specliasing in the financing of property and building on my existing property skills I was keen to get more involved with the development of an ambitious property company. It is great working with Paul. He enjoys life as well as what he does and his track record instils huge confidence in potential financial partners, as well as for me personally. I am looking forward to the challenge.” Previously, Patrick has been a Director at Kingfisher Property Finance in Mayfair, and has also worked for Knight Frank.
In addition to this senior appointment, Paul and the team at Craigard have also relocated to their first stand-alone office premises in Carlton Crescent, Southampton. The move helps to establish Craigard as one of the leading property companies in the area and puts them firmly on the map.
However, the hat trick for Craigard is the announcement of their year two results, which sees them, set to storm their five year target in half the time. Already this Southern-based company has dealt with 9 purchases and 15 transactions in total, worth over £70m in only two years of existence. With an initial target of £100m in five years, this is a highly impressive result.
Managing Director, Paul Foster commented, “I am so pleased with Craigard’s first two years, they could not have gone better. The new Joint Venture with RBS has enabled us to target larger opportunities, and we will to target further investment with the appointment of Patrick. Together we will be looking for more institutional investment partners to take the company to the next stage; we already have RBS willing to invest in us, so hopefully the future is looking bright!”