Partner Article

£6m start for new North East property firm

A new North East commercial property company has built up a £6m portfolio just six weeks after starting up.

North East Commercial Property in Gateshead was formed by businessman Kevin Brown in March and has already attracted a team of talented commercial property and business transfer professionals. The firm has secured a range of businesses for sale, as well as premises-only instructions that spread from Berwick to North Yorkshire and across to the borders of Cumbria. It has also completed its first instruction on a retail hot food business that was sold direct to a waiting buyer on their books.

To add to the capabilities of NECP, a division called The Business Partnership will fill a gap in the market in helping small to medium sized businesses plan for sale, and maximise their value. Jointly the two divisions offer a business transfer service that can see a company whole or in parts sold as an ongoing concern along with its premises or lease.

Managing director Kevin Brown has run several of his own companies for the last 28 years, having merged and sold his businesses on many occasions. Co-director Richard Finney has been in the business transfer market for 14 years, having worked previously at several regional commercial agents and also for developers. More recently he headed up the commercial dept at Rook Matthews Sayer Commercial Ltd. Kevin Brown said: “There are big synergies between selling a business and its commercial property - inevitably the property a company occupies is a major asset or factor in the business. Our team has worked together for many years, and we can concentrate commercial considerations of selling a business, as well as its premises as one package.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .