Former JLL chief Andrew Gould joins UK developer Genr8

By Paul Norman - Tuesday, March 04, 2014 11:50

Andrew Gould, the former UK Chief Executive of Jones Lang LaSalle and current Chairman of the UK Green Building Council, has joined UK urban regeneration specialist Genr8 Developments as a principal as the group prepares for a major investment drive, CoStar News can reveal.

Simultaneously Genr8 confirmed that Martin Moore, former head of PruPIM (now M&G Real Estate), has joined its Advisory Board.

Robert Burrow, chief executive of Chelsfield Partners, is also a member of the Advisory Board, chaired by John Early.

Genr8 was established by former AMEC Developments chairman John Early in 2007 with AMEC colleagues Mike Smith and Richard Ingham and its principals have delivered a number of UK city centre renewal and mixed-use urban redevelopment schemes.

Gould has been the lead commercial adviser on many major projects in London and other international cities over the last 20 years, including Greenwich Peninsula, Stratford and the Olympics legacy and he advised on the creation of the English Cities Fund – the first PPP investment vehicle in urban regeneration.

Gould led JLL in the UK from 2009 to 2013 and was instrumental in its merger with King Sturge.

He left the business in August of last year after handing over to Guy Grainger at the beginning of that year.

Genr8 said it was in the process of forming a pool of heavyweight institutional and private investors to undertake major urban development projects in UK cities. It has projects in excess of 1m sq ft underway.

The group said the opportunities for successful investment in mixed use development and regeneration are more promising than for any time in the last 10 years. Funds are known to be seeking investment and development opportunities across Outer London and UK Regions as occupational markets tighten and core Central London assets look fully priced.

Gould said: “This is a tremendously exciting move and a natural step from being an adviser on major projects and a business leader at JLL to becoming a principal investing and developing in UK cities. Sustainable development has always been my passion – now I can make it my business. Genr8 has a great reputation for design-led development and has a terrific track record. I believe we can make it the clear market leader. Funds and investors tell us that the timing is positive for them and we are seeing a strong flow of really interesting opportunities.”

John Early said: “City renewal is an even more urgent priority than before the financial crisis. With Andrew coming on board and the support of people of the calibre of Martin and the investors we are in discussion with, we believe we can make Genr8 a major force in mixed use development and urban renewal.”

Genr8 partners with some of the UK’s leading investors and funds to deliver mixed use development and regeneration in London and UK regional cities.

Active projects include:

  • the £170m Smithfield commercial business quarter in Stoke-on-Trent where Genr8 is partnering Stoke-on-Trent City Council and the Homes & Communities Agency to build 1.2m sq ft of office, retail and hotel space and creating more than 4000 jobs. The project also delivers in excess of 270,000 sq ft of new public realm. The £40m first phase, comprising 210,000 sq ft of commercial offices for Stoke-on-Trent City Council is currently on site and scheduled for completion in Spring 2015. Phase 2 which will include a new hotel is expected to be announced shortly.
  • The £40m Sowerby Bridge scheme in Halifax which it is bringing forward with the Homes & Communities Agency and Calderdale Metropolitan Borough Council. The Sowerby Bridge project was the flagship scheme in Yorkshire Forward’s Rural Renaissance Market Towns initiative. The Genr8 scheme delivers circa 100,000 sq ft of employment space, 182 family homes and a riverside mixed use Hub on a 30 acre river and canal side site. The scheme also delivers significant infrastructure required to reconnect and improve links within Sowerby Bridge. The development commenced in the summer of 2012 and an initial £6m phase of infrastructure works has now been completed. Remaining site infrastructure and the subsequent residential and employment development is due to commence during 2014.
  • The £50m Rochdale Town Centre scheme, which Genr8 is delivering in partnership with Rochdale Metropolitan Borough Council, the Rochdale Development Agency and the Homes & Communities Agency. Genr8 are delivering the final piece in the town centre regeneration, a 200,000 sq ft retail and leisure destination.

pnorman@costar.co.uk

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