By Tony Mcdonough Deputy Business Editor , Daily Post
LIVERPOOL-BASED Ethel Austin Property Group has this week reported a 14% rise in pre-tax profits to £11.8m.
The group, which was founded by the Austin family 36 years ago and owns Merseyside landmarks such as the Passport Office at 101 Old Hall Street and Knowsley Business Park, is run from offices in North John Street. It has historic links to the retailer of the same name.
Figures to be filed with Companies House next week show the group, one of Liverpool's largest commercial landlords and real estate investors, also saw turnover rise 7.8% to £21.2m on the £19.6m recorded in 2004. Net assets increased by 15.7% from £135.6m to £156.8m.
The group has more than 1,000 properties under its ownership, some 200 associated businesses and a portfolio worth in excess of £650m.
Its investments include high street shops, shopping centres, office premises, industrial estates, business parks and retail parks as well as residential and new building developments.
Around 46% of these properties are in Merseyside and the North West. By sector category, the group's largest area of interest is high street shops and shopping centres, accounting for some 61% of activity.
The highlights from the previous financial year include two major disposals.
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