United Business Media buys property sales lead business

United Business Media has acquired sales lead business Lead in Research for its Built Environment division.

The publisher of titles including Building and Property Week bought out LIR for an initial £1.15m, with an additional £300,000 to be paid at the end of the year dependent on performance.

LIR uses planning applications and a wide range of other sources to compile detailed information on relocation, refurbishment and business expansion projects taking place across the UK.

Its subscription-based customers are mainly providers of goods and services to commercial properties, with a focus on furniture, telecoms and recruitment. It employs five staff and in the financial year to May 2010 generated revenues of £400,000.

Adrian Barrick, chief exececutive of UBM Built Environment, said: “We believe that LIR will provide further synergies – for example, with our Property Week brand – and generate strong revenue growth in the future.”

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