Langtree Group plc was formed in 1982 by Bill Ainscough, who is still the major shareholder, to initially manage and create workspace via the acquisition and refurbishment of industrial buildings.
In 1997, John Downes was appointed as Development Director to grow and enhance the property portfolio to include the development of new industrial and office workspace.
During the same year, the purchase of British Coal’s commercial and industrial property portfolio was the start of our regional expansion, which has now resulted in a significant presence in the North West, Yorkshire, North East, East Midlands and West Midlands areas.
In 1999 we entered in to a joint venture with national regeneration agency English Partnerships, and Network Space was established. Its remit was to develop 500,000 sq ft of high quality workspace accommodation for new and expanding companies in the former coalfield regions in order to support regeneration. The original remit was achieved within a six-year timeframe and the company has now been given an extended programme target of 200,000 sq ft over the next two years.
Over the last five years our portfolio value has risen from £55 million to £140 million with a profit before tax increasing from £3 million to £13 million. The net asset value has increased from £30 million to £91 million over the same period.
We are now a diverse property company with a large investment portfolio, a significant development business and a dedicated property services management team. The current portfolio stands at over 3 million sq ft and over 500 acres of development land.
