A British developer and an American real estate investment firm have teamed up to build “lasting and liveable” commercial and mixed-use schemes in London and across the UK.
Argent Related — formed from a partnership between Argent, one of the UK’s most prominent developers, and Related Companies, the award winning US investment firm — will capitalise on both company’s strengths to exploit Britain’s buoyant property market.
Argent has 30 years of experience in city-centre regeneration at Birmingham’s Brindleyplace (pictured), Piccadilly Place in Manchester and London’s King’s Cross. Related was formed in the 1970 and has built its reputation on delivering hotel, office and large-scale, mixed-use schemes in both America and Middle East. It is currently developing the largest private project in the United States: Hudson Yards, on Manhattan’s west side.
“Argent and Related share a common approach and passion for mixed-use development which is focused around creating new and distinctive places for people,” explained Argent managing partner and joint chief executive officer at Argent Related, David Partridge.
“We both have experience in taking on challenging property developments of a significant scale, and believe our shared dedication to long-term involvement, quality of product and thoughtful planning lend themselves to a successful partnership — one which can significantly benefit UK cities.”
He said that Related’s industry leadership in such areas as sustainability will enable the joint venture “to complete projects with the scale and impact to make a real difference, and keep Argent at the forefront of the UK property sector”.
The partnership has already confirmed it will target schemes which include the delivery of high-quality, intelligently designed, mixed-use and residential developments. It is also committed to providing workspaces for the next generation of businesses and office users, all located near significant new transport hubs and offering environments which work as real places for communities.
Kenneth Wong is chief operating officer and director of international development at Related and joint CEO of Argent Related. He said: “Related has been focused on the London market for several years and we are thrilled to partner with the UK’s leading regeneration developer to jointly pursue new opportunities there.
Argent’s experience of working on city-scale, mixed-use developments makes it the perfect partner for Related,” he added. “We recognize that real estate is a local business, and through Argent Related we look forward to applying the extraordinary capabilities of both companies to the UK, starting in greater London.”
Pre-existing development schemes undertaken by both firms — including Argent’s managing the regeneration of Paradise Circus in Birmingham and Airport City in Manchester — will be unaffected by the new joint venture.
Business Leaders back £15 million Midtown Vision