Regional publisher Archant has launched a new quarterly global luxury property magazine, International Prime Properties.

The launch has resulted from a company initiative, the Innovation Fund, which encourages staff to submit business ideas and win funding through a pitching process.

The front cover of the first issue

The front cover of the first issue

Karen Tait and Sue Crwys-Williams, the staff involved, will take up the roles of editor and group sales manager respectively.

The team will be taking the new product to LPS Beijing – the world’s biggest luxury property event – and the first issue will go on sale from the end of April.

Jeff Henry, CEO of Archant, said: The Innovation Fund is a unique proposition that ensures we are giving our talented team a voice across the business and International Prime Properties is a great example of how the process can work successfully to build an impressive product.”

Archant will be distributing 40,000 copies of International Prime Properties across a range of locations including First Class airport lounges, five star hotels, hospitality boxes at sporting events, premium London shops including Selfridges and Harvey Nichols, and luxury estate agents.

In addition, copies will be distributed free with its sister county magazines including Cheshire Life.

The first advertisers of the new publication will be the property search service, Leggett, and French bank Britline.

Henry added: “With its best in class quality content, plus the highly targeted distribution plan, the team have created a valuable product for consumers, giving advertisers access to a passionate and affluent audience.”