BoSC negotiates stake in Kenmore

by Gill Montia

Story link: BoSC negotiates stake in Kenmore

Bank of Scotland Corporate (BoSC) is reported to be negotiating the acquisition of around 40% of Kenmore, the Scottish property company.

Kenmore is an Edinburgh-based developer and property fund manager that operates in the residential and commercial sectors.

BoSC has recently increased its interest in property development; it owns stakes in Cala and Tulloch and earlier this month acquired an interest in Miller Group, the privately owned construction firm that is one of Scotland’s largest companies.

Kenmore is one of the UK’s biggest privately owned developers and the deal could be worth up to £35 million.

The company already has a strong presence in Europe and is also working on Jumeirah Village, a residential development in Dubai.

It now has plans to establish itself as a substantial international fund management business.

The firm, which is involved in a number of joint ventures with BoSC, currently has around £1.7 billion of assets under management.