Investment platform Platinum Property Partners has been acquired by a group of long-standing franchisees.

And they’re pledging to how PPP’s investment in HMOs across England.

Five franchise partners have come together to invest over a quarter of a million pounds to take ownership of PPP.

Since being established in 2007, PPP claims to have supported over 390 people to create what it calls “highly profitable property portfolios” comprising 1,300 shared homes for more than 8,000 tenants. 

As of the end of 2021, the franchise had collectively generated £237m in rental income and achieved £43m in capital growth. No figure has yet been released for 2022.

The five new equal shareholders have over 50 years’ combined experience within the franchise, with some having an extensive background in property and company directorships prior to that. 

Together, they own the same amount of HMOs – around 50 – and have all played a role in the recruitment, training and mentoring of landlords in the network.

With immediate effect, the new owners are Paul Watson, Jon Rose, Parminder Dost, Mike Hedgecox and Paul Kutchera.

One of them – Jon Rose – says: “Having been a longstanding franchise partner, and having involvement in around 90 franchisees joining PPP, I have always been very passionate about this business and the partner community that has been created around it. PPP significantly changed … my family’s lives for the better and has given us financial security for the long term.

“After a period of underinvestment, with the right ownership structure now in place, I feel that we have the chance to revitalise and develop the PPP franchise further.

“The HMO property investment model has proven itself to be a robust one, but as the level of investment to do it properly is high, not making mistakes in those early properties has never been so important. 

“Together with this, ensuring you have support in creating a profitable and sustainable property business for the future has huge benefits – this is where the PPP franchise will continue to come into its own and I am confident that we can grow the network of FPs further and take them from strength to strength.

“I want to ensure other families can take advantage of the opportunities we have had long into the future.”