Rival developers join forces
Published: 02 November, 2011
Manchester developers Capital Properties and Centric Property Group have joined forces to create Capital & Centric Plc launching today, November 2.
The individuals behind the two companies, Adam Higgins and Tim Heatley, have a high profile in the North West of England gaining their experience working with some of the region’s most respected development companies and have both been involved in key transformational projects.
Having originally trained as a lawyer, Tim Heatley started his development career with Modus Properties as a director in 2000 primarily driving the company’s retail portfolio before setting up Centric Property Group early in 2009 and has been busy delivering projects such as Crown Business Park in Rochdale and at Estuary Banks in Speke, both of which are on site.
Adam’s first development role started 16 years ago working at Peel and as a board director of Ask Developments before joining Manchester’s Property Alliance Group and he has since set up retail specialist Capital Properties. Adam has several food store led schemes underway including sites in North Wales and Lancashire.
The two developers met earlier this year having found they were competing on a number of sites so decided to pool resources and create a new company with a broader mix of projects and skills.
Adam Higgins said: “Tim is somewhat of a public funding specialist and is used to working with public sector bodies in leveraging finance, we are looking at several further schemes involving public funding which will continue feeding the employment generating development. My background has tended to be more private sector retail based so joining the companies together creates a balance in terms of project mix and skills.”
Tim Heatley added: “The current market provides an opening for companies run by individuals with extensive experience but without the legacy of servicing debt within their portfolio, this provides a great opportunity for an agile developer such as Capital & Centric Plc.”
Grant Thornton chartered accountants and Ward Hadaway solicitors advised on the merger.
