Central London property investment and development company, the Benchmark Group plans to spend £100m on property acquisitions during the next six months.
Joint managing director, Nigel Kempner told EGi News that the company is in negotiations with several companies to acquire central London properties. He said: “We have set aside £100m and deals will hopefully be announced soon.”
Benchmark this morning announced it had turned 1995’s pre-tax loss of £0.26m into a £1.2m profit in the six months to 31 December 1996.
The improved performance was boosted by the £120m Friends Provident property portfolio which Benchmark acquired last October. The company’s rental income increased by £1.94m to £2.42m. Benchmark’s gearing is 41%.
EGi News 14/03/97
