The Armchair Property Investor sells for £2m
The company has been bought in a deal worth in excess of £2m
The Armchair Property Investor has been bought in a deal worth in excess of £2m.
The award winning property investment company has been bought by the Braemar Group plc, a provider of residential property funds, corporate finance and management services, in a deal worth over £2m.
Armchair will continue to trade under its own name and its founder, Frazer Fearnhead, will become a divisional director within Braemar.
Armchair, established in 2005, has over 10,000 subscribers who are looking to make money out of the property market both here and in the UK.
This deal means that it will be able to broaden its services as customers will now be able to gain a full property management facility.
Fearnhead said: “In an increasingly competitive market, where prospective clients find it hard to distinguish legitimate professional organisations from anonymous companies trading on the internet.
“It creates a clear distinction between us and the mass of investment clubs that have sprung up in the last 18 months.
“It will also increase our leverage with developers and enable us to negotiate better deals for our clients.”
© Crimson Business Ltd. 2007