LONDON, UK, June 06, 2009
/24-7PressRelease/ -- Neil Young, CEO - Young Group, believes that Bank of England's rate setting committee is prudent in maintaining a degree of stability; "The MPC has previously acted decisively in a bid to stimulate the economy and lending markets. However, it is now quite right to take the time to assess the impact of those measures.
"Despite some positive economic news beginning to filter through, the impact of the MPC's policy will not be felt overnight, so it comes as no surprise that the MPC has opted to take a 'wait and see' approach.
Neil Young concludes, "Bank of England Governor, Mervyn King, should be applauded for the stability that comes from keeping base rate and economic stimuli consistent. A degree of stability from the Prime Minister and his Government at this time would also be welcome..."
Young Group Asset Management - At a Glance:
• All assets successfully tenanted with no rent arrears disputes
• Currently managing 300-400 units across London
• Accredited by the National Approved Letting Scheme (NALS)
• Highly experienced in marketing the entirety of new apartment blocks, e.g. My Base1, Southwark (85 units - phased occupation); The Interchange, Dalston (30 units - fully tenanted in 8 weeks); The Retreat, Earlsfield (22 units - fully tenanted in 6 weeks)
• Average void across the portfolio: 8 days
• Performance Example: Young London managed assets in Southwark outperformed the market by 50% over the past 12 months. [Based on FindaProperty rental index for Southwark compared to Young London rental income performance]
• The lettings business was shortlisted for National Estate Agent of the Year Awards in its first year of operation
• 5,000 unique visits per week to website viewing 1.5m pages per year, 300%+ more than the Google benchmark for similar sized estate agents; an in-house increase of 60% since the beginning of 2009
• In 2008, Young Furnishing provided furnishing on behalf of our landlords to accommodate 272 Young London tenants
Neil Young, CEO - Young Group
A qualified accountant, Neil has more than 10 years experience in global corporate finance having worked with companies such as Thomson Holidays and British Airways. In 2000 he was appointed European Chief Financial Officer at Highland Partners, before leaving to found Young Group.
Neil works closely with his management team to ensure that Young Group operates effectively to manage clients' investment assets and to ensure that all Group companies remain focused on delivering excellent service in all areas, whether it is in the realm of financial advice (Young Finance), investment opportunities, property management (Young London) or furnishing (Young Furnishing).
Visit http://www.younggroup.co.uk to learn more.
About Young Group
Young Group specialises in providing Property Portfolio Management services to private investors, identifying the best off-plan opportunities in London on their behalf and managing the entire investment process - from sourcing the property through to financing, furnishing and letting.
Young Group is a wealth manager with a focus on property as an asset class. Young Group owns all the property it sells, and also retains a number of properties for its own portfolio. As the principal in every transaction, Young Group does not realise any profits until completion, giving investors 100% confidence that properties will 'value up' and that financing will be secured.
Young Group has transacted in excess of 1,500 apartments, with a retail value of GBP630m. The majority of our units are bought by clients for their private portfolios. The Group's lettings division, Young Lettings, has successfully let all investors' apartments within a week of completion.
For each property exchange, Young Group donates GBP50 to Children with Leukaemia, the UK's leading charity dedicated exclusively to fighting Britain's biggest childhood cancer through pioneering research, new treatment and support of children with Leukaemia and their families, and to Norwood, the Children and Families First charity which provides support to families facing social difficulties.
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