Develop North PLC has appointed regeneration leader Michelle Percy as its new Chief Executive Officer, as the North East-focused investment company prepares for its next phase of growth.
The appointment follows the publication of Develop North’s prospectus and comes as the company plans a proposed £58m fundraise, aimed at expanding its role in backing regeneration, job creation and economic growth across the region.
Percy is one of the North East’s best-known development and regeneration figures, with a career spanning both the public and private sectors. Most recently, she spent almost nine years at Newcastle City Council, where she played a central role in unlocking inward investment and delivering some of the city’s most high-profile regeneration schemes.
During her time at the council, Percy worked on major projects including Forth Yards, Pilgrim Street and Newcastle Helix, and was instrumental in securing funding for the restoration of the Tyne Bridge ahead of its centenary in 2028. Collectively, the developments she helped deliver formed part of a pipeline valued at almost £7bn.
She was also closely involved in investor engagement at a national and international level, including working alongside Newcastle United’s leadership team following the club’s Saudi-led takeover, helping to further raise Newcastle’s global investment profile.
Prior to joining the council, Percy was a director at Clouston Group, where she worked on landmark schemes such as the Stephenson Quarter and the Crowne Plaza Hotel in Newcastle, supporting the company’s long-term development strategy.
Her appointment comes at a pivotal point for Develop North, which has set out ambitions to grow into a £300m assets-under-management platform, providing locally informed capital across residential, commercial and real estate lending opportunities.
Speaking about her new role, Percy said: “I am so proud to be taking on this role at such an important moment for Develop North and for the North East more broadly. The region is continuing to attract national and international interest, and Develop North has a unique role to play in unlocking inward investment while also giving people the opportunity to invest directly in the future of the region.”
She added that the company offers “a compelling way for investors to help shape the North East’s next chapter”, supporting regeneration, jobs and long-term economic growth.
John Newlands, chairman of Develop North, said Percy’s appointment strengthens the business as it enters its next stage of development.
“Michelle brings an outstanding pedigree to Develop North. Her track record of securing investment, delivering major regeneration schemes and building effective partnerships across the public and private sectors is second to none in the North East.”
Since launching in 2017, the London Stock Exchange-listed company has supported 43 projects with a combined gross development value of more than £280m, deployed around £90m of capital, and helped support an estimated 12,000 jobs across the region.
