LMM diversify to weather the recessionary storm

Giles Horwitch-Smith, the thirty-something CEO of Birmingham property group LMM is defying the effects of the credit crunch but diversifying the services his company offers to meet the changing needs in the property market.  The company’s main activity is buying buildings and then making them available as serviced offices or apartments, so that business people have an alternative to using a hotel room or a traditional office.

The company now manage sites on behalf of owners as well as selling office management software. The company will not be buying any more sites in the next year or so but will look to invest again when demand starts to rise again.

Commenting on his current strategy, Mr Horwitch-Smith said “We have altered the way we do business. While we are still doing serviced apartments and offices because of the credit crunch we haven’t been able to get as much capital debt as previously so we have been looking elsewhere.

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