McCafferty Asset Management’s (MAM’s) London office has built up a management portfolio valued at £400m only six months after opening its doors for business.
The core portfolio comprises 14 commercial properties with 23 tenants, carrying a rent roll in excess of £19.4m per annum with service charge budget of in excess of £3.2m. The whole portfolio has 550,000 sft net lettable area, which includes three multi-tenanted offices in London totalling 276,000 sft.
Commenting on the London operation, Charles Whittle, founder and CEO of McCafferty Asset Management, said: “The decision to open a London office has been completely vindicated by the results to date which have exceeded all expectations. I’m obviously very pleased from a business point of view, but I am also very happy for the team in London who have worked so hard to achieve this success. They have made a brilliant start and we are all very optimistic about the future.”
Matt Smith, who heads up the London office and has over 14 years’ experience in the UK real estate market, added: “Moving to McCafferty has given me and my experienced colleagues the perfect platform from which to support the growth of the group on all fronts. We’ve made a strong start, but I am confident this is only the beginning.”