Mattioli Woods, an Endersby-based wealth management firm, plans to float its property arm on the London Stock Exchange.
The firm plans to exploit the improving realty market and raise £50 million from investors, which, in turn, would be used to invest in more property. Clients’ property, worth around £100 million, would be grouped together in a new real estate investment trust, Custodian Reit.
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Ian Mattioli, chief executive of Mattioli Woods, said: "As the economy starts to expand, it will utilise the existing property that is available and on the back of that we should see rents improve and new property development. What it will basically mean is that Mattioli Woods will have two separate listed entities."
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