Property developer set for new era after members’ buyout
BIRMINGHAM commercial property developer Stoford is set to enter a new era after completing a members’ buyout which will see company founder Dominic Stokes stepping down from the business.
Also stepping down from their roles are David Brown and Jon Andrews.
Joint managing directors Dan Gallagher and Matt Burgin will continue to lead the firm.
Mr Stokes founded the firm in 1996 to focus on occupier-led, pre-let commercial property developments. The company has since grown significantly and has completed commercial developments totaling more than 13 million sq ft with a value of over £1 billion across a diverse range of sectors throughout the UK.
He said: “It has been an amazing journey and I’m extremely proud of everything that Stoford has achieved in the past 20 years. I’m confident that Dan, Matt and the team will drive the business forward to even greater heights.
“The company will continue to be led by Matt and Dan as joint managing directors alongside shareholders Tony Nash, Gerard Ludlow, Julie Craig and Alex Morgan. Angus Huntley, who has recently joined from Savills, will assist in developing the business.”
After stepping down, Mr Stokes will focus on his other business ventures. Jon Andrews will remain as a non-executive director, while David Brown will continue to work with the firm as a consultant, supporting the development team.
In a joint statement, Mr Gallagher and Mr Burgin said: “The huge success Stoford has enjoyed over the past 20 years is a tribute to the enormous contributions made by Dominic, David and Jon. The members’ buyout represents the start of an exciting period for Stoford as we embark on the next phase of growth.
“The last 18 months has seen a sustained, positive upturn in market conditions, which has allowed the Stoford team to thrive across a number of sectors.
“Our continued push into the industrial and logistics market has been further enhanced by market movements including a lack of supply and increased demand, allied with record investment yields, creating a market ripe for expansion. We are in excellent shape to take advantage of the many opportunities the current market conditions continue to present.”
Stoford’s portfolio includes industrial and distribution warehouse sites, production plants, business parks, offices, retail schemes and hotels. It has worked with some of the UK’s largest occupiers and financial institutions including Severn Trent Water, RWE npower, Admiral Insurance, Tesco, The Co-operative, Standard Life, Axa, LaSalle, BlackRock and GE, together with Government departments such as HMRC, DSA, DEFRA and The Home Office.
In recent years the firm has enjoyed considerable success, and in the 2015 RICS Awards it won the Commercial Categories for both the Wales and South West regions for two separate schemes, and Overall Project of the Year for its Admiral Insurance Group development in Wales.
