The firm is headquartered in Haydock, with a separate London office in St James’s Square.

UK-based investment group Seneca Partners has launched a property investment business called Seneca Property.

Jeff Morton, who was previously an equity partner at property private equity firm Henley Investments and a managing director at Blackrock, will join as managing director of the new company, the firm said in a statement.

Seneca marked the launch of the new venture by simultaneously announcing the £20m acquisition of a portfolio of six branded business centres known as “BIZ HUB”, which was acquired from M20.

The portfolio provides 170,000 sq ft of office accommodation and a further 50,000 sq ft of light industrial accommodation, let to over 200 tenants at strategic locations in the North of England with some further development opportunities possible.

Seneca Property is headquartered in Haydock, with a separate London office in St James’s Square.

“This is a timely and logical move for Seneca and one which perfectly complements our existing range of investment platforms,” said Richard Manley, managing partner. “We have been able to assemble a first class property team and we’re delighted to have somebody of Jeff Morton’s calibre on board to lead the business. Jeff and property investment director, Chris Bullough who have worked together previously, have exciting plans to develop and grow the business and we will be committing significant funds to achieve this.”