New Birmingham base for property firm with BGF backing

A historic property consultancy has secured a multimillion-pound funding package to expand out of London and open a new office in Birmingham.

Chartered surveyor Anstey Horne, whose roots date back to the 1790s, has launched a new base in the city's Colmore Business District after securing a £6.5 million deal with the Business Growth Fund (BGF).

The consultancy has a 40-strong team advising commercial and residential clients on property matters such as rights of light, daylight and sunlight, party walls, neighbourly matters and general building surveying.

It said it planned to use the BGF's capital to take advantage of the market opportunities through developing and growing its team and also open its second office in Birmingham.

The firm is owned by directors Lance Harris and Graham North.

As a result of the BGF investment, it has appointed Clive Williams as non-executive director and chairman.

Mr Williams has previously held senior roles including managing partner of financial services firm EY UK, chief executive of management consultancy Cap Gemini and chairman of property agency LSH.

Mr Harris said: "This year, we have been busier than ever and continue to benefit from a strong pipeline.

"Bringing BGF on board gives us the capital to accelerate the growth we have been experiencing, at the same time as retaining control of the business."

Mark Nunny, an investor at BGF who will sit on the board of Anstey Horne, added: "Anstey Horne has grown rapidly on the strength of its people and its brand.

"Lance and Graham are leaders in their field and have built an impressive team around them. Alongside Clive, we are excited to support the whole team in their next phase of growth."

The investment in Anstey Horne was led for BGF by Mark Nunny, Will Gresty and Thomas McDonnell.

Anstey Horne was advised by Astre Associates, Wilkins Kennedy Corporate Finance and Shoosmiths.

BGF was advised by WY Partners, Grant Thornton and PDT Solicitors.

The Business Growth Fund provides growth capital to small- and medium-sized businesses and is owned by five high street banks - Barclays, HSBC, Lloyds, RBS and Standard Chartered.