A North East-based investment company has unveiled plans for a £58m fundraise as it looks to scale up investment into housing, commercial property and regeneration projects across the region.
Develop North PLC has published its prospectus, setting out a new multi-asset investment strategy and its ambition to grow to £300m of assets under management within the next five years, subject to shareholder approval.
Founded in 2017, the London Stock Exchange-listed company has built a track record focused on the North East, deploying around £90m across more than 43 projects with a combined gross development value of over £280m. Those investments are estimated to have supported around 12,000 jobs.
The new strategy marks a shift from a single-asset real estate lending model to a broader platform spanning residential, commercial and real estate lending, allowing the fund to support a wider range of developments across the region.
Develop North’s plans come at a time of growing institutional interest in UK regions, with the North East benefiting from £5.15bn in devolution funding and increased inward investment linked to clean energy, advanced manufacturing and digital industries.
As part of the strategy, the company has strengthened its asset management capability, appointing specialist advisers with regional expertise to support future investment decisions.
The fund is targeting average annual returns of 10–11% over the next seven years, alongside a target dividend of 6–7%, while maintaining a focus on projects that deliver long-term economic and social impact in the North East.
