Tier One Capital partners with Broadoak on fund

A fund and wealth management firm has partnered with a property sector operator to drive forward an investment venture.

Tier One Capital is working with Broadoak Asset Management.

Bosses say the alliance will support the growth of the Develop North investment fund.

They say Broadoak will help expand the fund’s reach across North East residential and commercial property developments and support plans to explore additional fundraising.

Delivering property development finance across the North of England and Scotland, Develop North has provided more than £80 million debt funding to 39 residential and commercial projects, which officials say has helped create more than 3200 jobs. 

Founded in Newcastle in 2014, Broadoak is owned by Fergus Trim and John Seager, with its projects including the Newcastle Helix science hub and Quorum Business Park.  

Ian McElroy, Tier One Capital chief executive, said: “We are delighted to appoint the team at Broadoak to work alongside our existing fund management team.

“We expect them to make a significant contribution to the next phase in the growth of Develop North. 

“To date, we have worked with many development teams in the North of England and Scotland, to provide a gross development value of more than £160 million. 

“Integrating John and Fergus’ expertise with our team brings a wealth of property experience as we look to capture exciting growth opportunities in the region.”

Fergus, Broadoak director, added: “The Develop North fund has a great track record, and we are looking to build on that and take advantage of some big opportunities in the North East.  

“Devolution and a changing investment and development landscape has created real opportunities for a trusted local fund with a focus on the North East and a real depth of knowledge of the local market.”

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