West Midlands-based commercial developer Catesby Property Group is launching a dedicated arm of its successful operations to focus on brownfield regeneration opportunities in London and the South East of England, in a joint venture with Bank of Scotland Corporate worth £80 million.
Catesby Regeneration has recruited an experienced team of individuals to drive forward its expansion plans. Operating out of new offices in London at 11 Haymarket, the team will focus on redeveloping brownfield sites with potential to deliver sustainable mixed use schemes comprising residential, affordable housing, student accommodation and employment activities.
Catesby is joining an increasing number of developers who also recognise the opportunity within London and the South East to provide a flexible approach to residential development which offers the potential to deliver more affordable homes to those people excluded from home ownership as a result of the spiralling cost of new homes in the Capital over the last 10 years. Notwithstanding the current housing market weakness this need is expected to continue into the future. Within the mixed use contextCatesby is keen to work with the Universities and Further and Higher Education Colleges based in London to support their efforts to maintain the city’s position as a centre for academic and occupational training through the delivery of high quality student accommodation.
Paul Brocklehurst, Group Chief Executive said: “We are delighted to have formed this Joint Venture with Bank of Scotland Corporate at this time. We have substantial committed funding in place to buy sites where they will meet the criteria we set for the delivery of regeneration and sustainable development. In particular we are keen to build on the successful business created to date and extend the Catesby Brand into London and the South East where the prevailing market conditions will be creating opportunities for well funded companies.
Alan MacLeod, Director of Joint Ventures within Bank of Scotland Corporate, added: Through this new Joint Venture with Catesby, Bank of Scotland Corporate continues to highlight its commitment to sustainable, mixed use development. We are excited by the opportunities that are likely to present themselves over the course of the next 12 months.”
For more information about Catesby Property Group visit www.catesby-property.co.uk
