Former Liverpool barrister Sue Wright is one of the founders of corporate finance firm Harrogate International Advisory which has secured a multi-million pound funding line. Tony McDonough reports
A Liverpool corporate finance and property advisory firm has secured a multi-million pound funding line which it will invest in property schemes across the UK.
Harrogate International Advisory was founded by Faisal Arif and Sue Wright. Ms Wright made her name in Liverpool as a barrister specialising in family law for 20 years. She later worked as an executive for hotel developer Signature Living.
Mr Arif started his corporate career at Lehman Brothers in London and New York. He worked in the mergers and acquisitions department dealing with large corporate private equity transactions.
Now the firm, which also has an office in Birmingham, has secured a “multi-million pound funding line” from a private family office. A private family office is a company set up to manage the assets of a wealthy family. It will be known as the Harrogate Private Property Fund. The identity of the family has not been disclosed.
Harrogate says it will use the money to back property projects in the UK. It will focus on bridging finance, mezzanine and equity for residential and commercial property developments.
The firm was approached by the private family office and its representatives and have been in discussions for a number of years. Its representatives were keen to invest in the UK property market. They have been waiting for the right time to fully commit.
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This fund will focus on the short term bridging market. Mr Arif, who is chief executive of Harrogate, said ‘With the increase in both property acquisitions and development activity it’s great timing to have this facility in place for our clients.
“We can now advise our clients on the array of funding options in the market but can also use our own funds and become a one-stop shop for property developers.
“Our fund will look to make investments of between £100,000 to £10m on any single deal as either bridging, mezzanine or equity. We are looking forward to working with developers nationwide and providing access to capital.”