A billionaire London landlord is looking to ramp up deals outside the city in search of more value.
Cadogan Group, the firm behind Charles Cadogan, is looking to invest about £200 million in commercial real estate outside the capital by the end of the year.
Hugh Seaborn, chief executive of Cadogan Group, said: “We are growing a national portfolio of commercial properties.
“We’re buying things like regional office buildings, retail warehouses and logistic properties and so on so that we have resilient income that’ll be there when we need it.”
Charles Cadogan, the 8th Earl Cadogan, is ranked as the 10th richest person in the UK by Bloomberg, with a net worth of $6.1 billion.
His family has owned land in the wealthy Kensington and Chelsea areas of London, while trusts owned by the family have reduced the amount of tax they’ve paid when beneficiaries die.
Cadogan Group started acquiring commercial property outside the capital in 2018, as it recently acquired a Travelodge hotel in the Southwest of England.
The group upped its income by 4.8% in 2021 to £168.9 million.
Seaborn added: “It’s a property business, but it’s all about breathing life into property.”