Croft and other industry heavyweights launch real estate stock exchange
Former Rugby World Cup winner Michael Lynagh, Nick Leslau, Nigel Wray, Dominic Silvester and Richard Croft among the names behind Aram
08 July 2025 | 08:09 | London | by Jessica Middleton-Pugh, David Hatcher
- What: New real estate stock exchange launches this week
- Why: Martley Capital’s Richard Croft has gone again following the closure of IPSX
- What next: £170m first phase of Scotch Corner, and residential developer Zentra, first to list on Aram
A new liquid market for the securitisation of real assets is being launched on the Aquis Stock Exchange, London’s challenger stock market.
The Aquis Real Asset Market (Aram) will provide a platform for the industry to raise and invest capital in real assets, an underrepresented sector on the London Stock Exchange.
The intended debut initial public offering (IPO) on Aram is Scotch Corner Designer Village, a retail and leisure development between York and Darlington. Scotch Corner is proposing to list on Aram to part-fund phase one of the development ahead of its planned opening in 2027.
Phase one has a £170m gross development value and, once complete, will comprise 180,000 sq ft of retail stores, leisure outlets, cafes and restaurants. Scotch Corner has completed the initial road and infrastructure works largely complete and has been substantially pre let to a range of strong fashion brands including M&S, Tommy Hilfiger and Calvin Klein.
The development is being managed by Scotch Corner Management Co Limited and is the vision of property entrepreneur Simon Waterfield.
Residential property development specialist Zentra, which de-listed from the London Stock Exchange in December 2024 to commence trading on Aquis’ Access segment, will list on Aram.
Aram will create a new tradable marketplace for the securitisation of all real assets and infrastructure across the capital stack and risk spectrum, including single assets, geared and ungeared, and debt instruments. It will also provide an alternative market to the LSE and other exchanges for traditional REITs.
Aram Advisors is a newly launched specialist listing and market advisory firm, focusing on Aram. Its management team is led by former managing director of Dow Jones Commercial EMEA and former rugby world cup winner Michael Lynagh; former Aquis Exchange CFO & COO Jonathan Clelland; Duneane Asset Management director Donall McCann; Rob Rackind, non-executive chair of Inhale Capital and former global head of real estate at Credit Suisse Asset Management; and Martley Capital chief executive Richard Croft.
Shareholders of Aram Advisors will include property investors Nick Leslau and Nigel Wray, Chief Executive of Enstar Group, Dominic Silvester, Martley Capital, Henley IM, Zentra Group and Acuitus.
Michael Lynagh, director at Aram Advisors, said: “London has achieved its position as a global financial hub through innovation, but in recent years it has struggled to maintain its competitive edge. Aram is exactly what the City needs, creating a platform that democratises access to the real estate market, a market valued at £1.3tn in the UK alone, and enabling people to invest in opportunities typically reserved for professional investors.
“With a strong management team and an internationally recognised host platform, the launch of Aram represents a major step forward in UK real estate investment. By enhancing investment transparency, limiting transaction costs and leveraging Aquis’ future-proofed software, Aram will revolutionise the public real estate sector.”
Aquis is one of the UK’s two equities Recognised Investment Exchanges, with approximately €2bn in secondary market trading taking place daily on the platform. As part of the Aquis Growth Market, Aram will leverage Aquis’ regulatory framework, deep market connectivity and proven trading infrastructure.
To read the full article, click here.
