• Company to set up new headquarters in central Birmingham
• Deal provides facility to invest equity in development opportunities
• Investment from Finance Birmingham’s £56 million Regional Mezzanine Fund – open to all SMEs in the West Midlands
Midlands-based property development company Henry Davidson Developments (HDD) has secured a £2 million investment from Finance Birmingham on behalf of the GBS LEP.
The business, which is currently based in Nottingham, is now set to relocate its head office to Birmingham city centre to deliver a range of projects across the West Midlands including the £80 million Lichfield Friarsgate town centre development and the £30 million mixed-used Lawley Village in Telford. This new base will enable it to expand, increasing their capacity to bid for and deliver more projects across the UK.
Founded in 1992, HDD (www.HDDL.CO.UK) are an experienced developer specializing in residential and retail led mixed use developments. These range from stand-alone residential schemes, to convenience stores at the heart of new residential communities, or to larger schemes anchored by a food store that serves a wide catchment area. With unrivalled knowledge of local markets, its record of delivery is second to none. HDD have successfully completed well over 65 retail-led developments across the UK and are arguably the UKs largest developer of local and district centres. Together, these projects have delivered over 750,000 sq. ft. of retail space and more than 350 homes for local people, alongside numerous community and leisure facilities. The combined development value of projects exceeds £350m.
Scott Davidson, Chief Executive of HDD, said: “We’re currently working on a number of exciting schemes across the UK and the investment from Finance Birmingham will help us to leverage the success of previous and current projects, helping the business to expand and ultimately accelerating our growth. We are close to securing premises in Central Birmingham and are looking forward to pursuing the next stage of growth from a Birmingham base”.
The funding has been provided by Finance Birmingham’s Regional Mezzanine Fund, open to any business across the West Midlands region, supported by the Regional Growth Fund on behalf of the GBS LEP.
Graham Mold, Investment Director at Finance Birmingham, said: “One of the objectives of Finance Birmingham’s Mezzanine Fund is to help provide liquidity to property development companies to accelerate their growth and this is exactly what we have done with HDD. Scott and the rest of the team at HDD have a fantastic track record and we are delighted to help them seize the many opportunities that they are seeing in a buoyant market”.