Seneca launches property division with £20m acquisition

Investment group Seneca has expanded its investment capability with the launch of its property investment business, Seneca Property.

Seneca, which already has around £500m under management across a range of investment platforms, marked the launch of the new venture by simultaneously announcing the £20m acquisition of a portfolio of six branded business centres known as “BIZ HUB” acquiring from vendor M20.

Richard Manley, managing partner of Seneca Partners said: “This is a timely and logical move for Seneca and one which perfectly complements our existing range of investment platforms. “We have been able to assemble a first class property team and we’re delighted to have somebody of Jeff Morton’s calibre on board to lead the business. Jeff and property investment director, Chris Bullough who have worked together previously, have exciting plans to develop and grow the business and we will be committing significant funds to achieve this.”