Six years after launching successful home buying agency, The Search Partnership, former Strutt & Parker and Knight Frank estate agents, Toby Milbank and Tom Robinson have been joined by two experienced property professionals who specialise in commercial property and land management.
Edgar Seligman will head up The Commercial Partnership, managing and acquiring commercial property assets and portfolios in Yorkshire and beyond that are typically worth up to £5m and Blair Wallace will run The Land Management Partnership. The two businesses, along with The Search Partnership, will operate under the umbrella of The Property Partnership.
Investment and Asset Manager, Edgar has operated in the commercial property industry for 16 years and previously worked in the Strategic Asset Management team at JLL, managing a number of multi-million-pound property investment funds for clients including Legal & General, Aviva, Schroder, Asda and Royal Bank of Scotland.
Blair joins from Savills in York where he was an Associate in the rural management team. He brings with him seven years of experience managing rural property portfolios, estates, and farm management for a wide range of clients in the North of England and beyond. Brought up on his family livestock farm in Southwest Scotland, Blair brings forward this practical and personable experience when advising clients.
Edgar said: “Having worked with large institutional investors for many years in both the UK and Europe, I was keen to join an entrepreneurial business like The Search Partnership and bring my expertise to its clients and other individual investors, who might not have considered developing a commercial property portfolio before. Most people spread their funds across residential property, shares, bonds and savings, but there are more perceived barriers when it comes to commercial property investment. However, with the right advice, excellent income and capital growth can be achieved.
“Currently interest rates are at a historic low, and commercial property provides an excellent opportunity to achieve sound capital growth over the next five to ten years, whilst also providing a strong yield of between 4% and 7%. I will also be working with people who already own commercial property or portfolios but want to see a better return. Business planning, land acquisition, refurbishments, redevelopment, tenant and rent reviews, advice on marketing and which agents to appoint are all part of the service available through The Commercial Partnership. There is a huge opportunity in Yorkshire and the North with The Northern Powerhouse, the Government’s levelling up agenda and improved connectivity all set to deliver future economic growth and my hands on approach and extensive contacts will help to bring an innovative and fruitful offering to clients.”
Blair said: “I’m excited about the future for rural property in England and the UK. Given the government’s recent green agendas, the rural sector can deliver, not only for the economy but also for society. It is vitally important we do not lose sight of traditional land use, but now is the right time for farmers and landowners to become alive to other income streams from their property.
“With direct government support to farmers being gradually cut over the next six years, farmers and their professional advisors need to be aware of new diversified income streams such as carbon trading, renewables and biodiversity off-settling. Yorkshire has such a diverse landscape and being based right in the heart of the area; I’m looking forward to helping clients see the full potential from their property.
“Many of the clients I’ll work closely with will require comprehensive daily management of their rural property, but others will require a more adhoc service. Both will require a service that will offer guidance on specific legislation, whether advising a landowner or farmer on a grant scheme or providing advice on agricultural tenancy matters.”
Director, Toby Milbank, said: “Since launching The Search Partnership in 2015, we have helped hundreds of clients find outstanding homes, country and sporting estates, as well as farms and land, whilst also cultivating investment and development opportunities across the North of England.”
Director, Tom Robinson, added: “Creating ‘The Property Partnership’ with Edgar and Blair means that we can provide our clients with an even broader range of services. It’s a really great fit and we are delighted to have two professionals of their calibre on the team.”