Ballymore sells majority stake in British property management firm

Buyout of company with 11,500 homes in its portfolio led by current managing director following strategic review of business

Sean Mulryan, chairman and group chief executive, Ballymore Group

Ballymore, the Irish property development company run by Sean Mulryan, has sold a majority stake in its British asset management business in a management-led buyout, the Business Post can reveal.

In correspondence seen by this newspaper, the company’s British director of property, Sally‑Ann Hellman, who is also Ballymore’s deputy managing director, has written to residents’ associations to notify them of the move.

Ballymore Asset Management Limited (BAML), which manages around 11,500 homes in Britain, is ...