CEO of Scarborough International Group looks forward to 2018

The chief executive of property firm Scarborough Group International feels there is “more to do” in Leeds and Bradford, as well as the city of Sheffield, as work progresses on several of the firm’s sites in the north during 2018.

Speaking to TheBusinessDesk.com at MIPIM, CEO Simon Marshall said: “There is plenty more for us to do in Leeds and Bradford is a huge opportunity too. We would like to do more in Sheffield too, as that’s a city which is very important for us.

“We have many long-term projects across the north and it’s very easy to look at that and think that will keep us all very busy. As a business, we are in very good shape. In difficult periods, we held on to important assets and used that to really think about planning and shaping the right products.

“We have a very good book value and it’s now about converting that into equity cash flow to re-invest.”

Marshall said that the Thorpe Park development in Leeds will this year see plenty of advances in infrastructure and commercial agreements.

Scarborough Group International, in partnership with Legal and General, is developing the Thorpe Park scheme with more than 940,000 sq ft of offices, in excess of 190,000 retail space, 105,000 sq ft of leisure – set to include an Odeon cinema, cafes and restaurants – as well as hotels, health and fitness, and 300 homes in the second phase.

“What we are doing now is re-energising and re-engaging with everyone about what Thorpe Park is about. It is a completely changing perspective all of the time,” added Marshall.

“There are some very exciting times ahead in 2018, the first restaurants will be coming through and the cinema will come on board just after Christmas.”

He added that they would be looking to announce further leisure occupiers in the coming weeks and months.

Marshall said: “In terms of the commercial space, we have been encouraged by the start of this year; last year was more difficult.  We would like to see mid-tier corporates in the development.

“The talent piece is certainly an issue for the occupiers, who want to retain and recruit the right talent. It is more and more competitive and people are also searching for much better working environments,” he added.

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