Investment firm unveils North East growth plan

An investment company has unveiled a real estate growth blueprint.

Develop North says it will “significantly expand financial support” for businesses, housing and regeneration projects across the North East.

Bosses say the venture “reflects a growing demand for flexible, locally informed capital”.

John Newlands, chair of Develop North, which is overseen by Newcastle-based fund manager Tier One Capital, said: “The North East is on the cusp of transformational growth, and the private sector has a vital role to play in supporting that momentum.

“With devolution and investment frameworks now in place, the North East and Tees Valley combined authorities are making the region more investable than ever.

“We are well-placed to ensure the investment opportunity is open to everyone.”

Develop North's progress is being supported by a local asset management team, which includes representatives from Homes or Houses and Broadoak Asset Management.

Ian McElroy, Tier One Capital chief executive, added: “There is a growing expectation that institutional investors, including local government pension schemes, will support investment into UK regions with real economic potential.

“We are witnessing the start of some real momentum in this process, with a number of globally recognised investment firms now allocating capital to the North East.

“And with two metro mayors in place with strong devolution settlements, the North East is seeing increased attention from policymakers and the market.”

Since its founding in 2017, officials say London Stock Exchange-listed Develop North has deployed more than £80 million in capital, which has supported 39 projects and helped create more than 12,000 jobs.

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