Brooks Macdonald buys Braemar Group

 

AIM-listed wealth management group Brooks Macdonald has bought Cheshire-based property fund and management firm Braemar Group in a £4m deal.

 

London-based Brooks Macdonald made the Braemar board an offer of 2.25p per share.

 

In April, Braemar bought the freehold of Manchester’s tallest building, the Beetham Tower, through its Ground Rents Fund.

 

Braemar Estates, its asset management arm, has more than £500m of assets under management.

 

daniel.cunningham@estatesgazette.com