Nottingham property developer relocates to Birmingham
A property developer is relocating its head office from Nottingham to Birmingham after being lured to the city with a new seven-figure investment deal.
Henry Davidson Developments has secured a £2m investment from Finance Birmingham on behalf of the Greater Birmingham and Solihull LEP.
The deal sees the developer move its new head office to Birmingham city centre so it can focus on new projects across the West Midlands, including the £80m Lichfield Friarsgate town centre development and the £30m mixed-use Lawley Village in Telford.
The firm said the new base would enable it to expand and bid for and deliver more projects across the UK.
Founded in 1992, HDD specialises in residential and retail-led mixed use developments. These range from stand-alone residential schemes, to convenience stores at the heart of new residential communities, or to larger schemes anchored by a food store that serves a wide catchment area.
It has successfully completed more than 65 retail-led developments across the UK, which together have delivered over 750,000 sq ft of retail space and more than 350 homes. The combined development value of the projects exceeds £350m.
Scott Davidson, Chief Executive of HDD, said: “We’re currently working on a number of exciting schemes across the UK and the investment from Finance Birmingham will help us to leverage the success of previous and current projects, helping the business to expand and ultimately accelerating our growth. We are close to securing premises in central Birmingham and are looking forward to pursuing the next stage of growth from a Birmingham base.”
The funding has been provided by Finance Birmingham’s Regional Mezzanine Fund, which is open to any business across the West Midlands region, supported by the Regional Growth Fund on behalf of the GBSLEP.
Graham Mold, Investment Director at Finance Birmingham, said: “One of the objectives of Finance Birmingham’s Mezzanine Fund is to help provide liquidity to property development companies to accelerate their growth and this is exactly what we have done with HDD. Scott and the rest of the team at HDD have a fantastic track record and we are delighted to help them seize the many opportunities that they are seeing in a buoyant market.”
