Newcastle businesswoman completes buyout of real estate company
An award-winning businesswoman who grew up in the North East finalized the management buyout of the real estate arm of luxury concierge company Quintessentially.
Penny Mosgrove, a former student of Central Newcastle High School, has been CEO of Quintessentially Estates for seven years and has now completed a management buyout with the help of advisers from the North East.
The company buys, sells, leases and manages luxury properties in regions such as London, Monaco and New York on behalf of high net worth individuals, entrepreneurs and celebrities. He recently struck a Â£ 56million deal for an apartment in London.
Ms Mosgrove – who was named CEO Today Business Woman of the Year in 2019 and was also listed in Spear’s Wealth Management’s Top 50 Realtors List – said the company will continue to work with the Quintessentially Group and its clients afterwards. the repurchase.
She completed the transaction with professional advice from Newcastle Williams Ali Corporate Finance and Square One Law firms.
She said: âThis is a natural progression for our business that will allow Quintessentially Estates to focus on delivering a first class experience to our customers from all of our offices across the world, while continuing to be part of the Quintessentially ‘family’.
“This is a great deal for everyone involved and the support of exceptional advisors has been essential to make it happen.”
Quintessentially Group is a British concierge company founded in 2000 by Aaron Simpson, Ben Elliot and Paul Drummond. Mr Elliot, the nephew of Camilla, Duchess of Cornwall, is now co-chair of the Conservative Party.
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The London-based company is a members-only ‘luxury lifestyle management service’ that provides travel and restaurant books, access to events and advice on raising children.
Darren Ellis, CEO of Quintessentially Group, said: âThis agreement represents an important step in Quintessentially’s strategy as we simplify and improve our corporate structures, in this case through a licensing agreement. The âEstatesâ brand will continue to be an important part of the Quintessentially portfolio and I look forward to seeing the business flourish under Penny’s ownership. “
Support for the deal was also provided by North East Accountants DMC North, in conjunction with Newshams Tax Advisors.