Scots property company announces two appointments with eye for expansion

A SCOTS property management company has announced two new appointments that it says will “support continued growth” as it eyes further expansion.

Sandstone Group has announced the two new senior appointments as it looks to “expand its presence” in the UK residential property investment sector.

The Edinburgh-headquartered private property investment and management company, formed in 1997, has appointed Paolo Alonzi as Group Finance Director and Chief Operating Officer, and Stuart Montgomery to the role of Director of Investment Management.

Paolo and Stuart will work closely with the existing senior management team to focus on strengthening the Sandstone business – particularly the Sandstone Residential REIT (real estate investment trust).

This is being done with the aim of raising funds both in the UK and globally to invest into the residential property sector in prime university cities and towns across the UK.

Paolo, a qualified Chartered Accountant, previously spent more than 18 years at abrdn plc, formerly Standard Life Aberdeen plc, in the role of Real Estate Chief Operating Officer.

As a member of the Board of the Association of Real Estate Funds, Paolo was recently involved in the UK Government-led Productive Finance Working Group, working closely with the Bank of England, HM Treasury and a number of senior stakeholders from across the Investment industry. 

Stuart leads the Investment Management team providing asset management and advisory services to private clients, family offices and wealth managers.

Prior to joining Sandstone Group, Stuart held a number of senior appointments in the property and investment sectors with a broad experience spanning structured finance, investment and asset management.

Founded by Peter Grant some 25 years ago, Sandstone, formerly Grant Property, has invested in more than 3,000 ‘traditional’ residential properties in prime university cities and towns across the UK.

These investments, on behalf of investors from 40 countries around the world, represent a gross asset value of around £1bn in property.

Sandstone provides investment and asset management services to fund managers, Family Offices and HNW private clients with a focus on building portfolios of high-performing residential properties. 

Commenting on the new appointments, Peter Grant said: “Paolo and Stuart are highly respected individuals and bring an exceptional level of experience to the business.

“Both share Sandstone’s vision to deliver high value, tax-efficient, leveraged returns for clients and their appointments as directors will help deliver our strategic growth plans.”