4th October 2006
Evening Standard – Millionaire Bovey ponders floating buy-to-let outfit
GRANT BOVEY, the millionaire property developer married to Anthea Turner, is reportedly planning to float this buy-to-let property company on AIM with a valuation of up to £200 million. Imagine Homes is a one-stop shop for buy to let investors that buys flats, sells the majority to third-party investors and then furnishes them, finds tenants and manages the lettings. Any float is unlikely until late 2007, according to Bovey, who said he wanted to grow the business to a turnover of £1billion a year. In the last six months, it had revenues of £120 million and made pre-tax profits of £13 million. Bovey has not yet appointed advisors to the float but has had a private valuation made of the business.