Terry Riley, who founded the Ascot Group, and Stuart Howard have established Ascot Property Investments as a 50/50 venture
Stuart Howard, an executive with the Ascot Property Group and a director of Ascot Property Investments(Image: )
The founder of Merseyside property developer Ascot Property Group and one of his key executives are establishing a new venture to offer outside investors the chance to buy into more than £100m of development schemes.
Terry Riley, who founded the Ascot Group, and Stuart Howard have established Ascot Property Investments (API) as a 50/50 venture.
The main Ascot group is bringing forward a number of schemes, which range from residential, student, hotel and care developments in Liverpool, Manchester, London and other UK cities, and the new business will be used as a vehicle to attract investors.
Once packaged for both investor and developer they intend to sell to their network of clients across the UK and overseas.
Mr Riley and and Mr Howard are also working closely with their London-based sales partners who are exhibiting in Dubai, Singapore and Beijing over the coming months, selling the developments exclusively that API introduce to the market.
Mr Riley set up Ascot Property Group in 1988 after he began investing in property at a very young age, from purchasing small residential properties to pub companies, then on to developing large city centre residential, student and leisure developments.
Late last year he headed a consortium in a bid to buy 75% of Leeds United FC along with its Elland Road stadium and surrounding development land but the bid proved unsuccessful.
Mr Howard joined the Ascot Group as property manager in 2009 in the middle of the property crash after working in the estate agency sector since he was 17.
The duo have been collating their databases of investors from across the world plus adding to their global network of sales agents who they have worked with on Ascot Property Group’s own developments.
“We are delighted to now be launching a worldwide property investment sales agency for clients from across the globe,” said Mr Howard.
“We have spent the last few years carrying out extensive research and, although keen to take to market, we have bided our time to ensure we have covered every angle within our research to offer the best possible service to both our investor and developer clients.
“We are confident in our timing and are now proud to announce the launch of our website and are on the verge of launching our first of many developments in the coming months.”