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About the company
Develop North PLC is a United Kingdom-based closed end investment company, which specializes in providing finance to the residential and commercial property sector. The Company provides debt finance to the property sector. With a focus on the North of England and Scotland, it offers finance solutions of between £0.5 million and £5 million to credible and professional developers across residential and commercial sectors. The Company's investment objective is to provide shareholders with a consistent and stable income and the potential for an attractive total return over the medium to long term. It seeks to achieve its investment objective through a diversified portfolio of fixed rate loans predominantly secured over land and/or property in the United Kingdom. It retains absolute discretion to make investments for either shorter or longer periods. Its projects include Kenley Homes, Horizon Cremation, Bede Homes and Calmont Homes. The Company's investment adviser is Tier One Capital Ltd.
- Revenue in GBP (TTM)1.72m
- Net income in GBP861.00k
- Incorporated2016
- Employees0.00
- LocationDevelop North PLCEagle House, Asama CourtNEWCASTLE UPON TYNE NE4 7YDUnited KingdomGBR
- Phone+44 19 1222 0099
- Websitehttps://developnorth.co.uk/
Profile
| Management group(s) | Tier One Capital Ltd |
|---|---|
| AIC sector | Property - Debt |
| ISIN | GB00BD0ND667 |
| Launch date | 24 Jan 2017 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | GBP |
Objective
The Company will seek to achieve its investment objective through a diversified portfolio of fixed rate loans predominantly secured over land and/or property in the UK. The Company will make investments primarily through senior secured loans although other loans such as bridging loans, subordinated loans, selected loan financings and other debt instruments may be considered if appropriate. The Company anticipates that the typical loan term will be between one and five years. The Company retains absolute discretion to make investments for either shorter or longer periods.
Managed by
| Ian McElroy, Jeff Fryer, Tristan de Gabiole, Chris Bull, Emma Black, Stewart Watson, Stewart Smith, Neil Marshall, Brendan O’Grady |
|---|
Management & contract fees
An investment adviser fee of 0.25% p.a. of the NAV less than GBP 100m and 0.5% p.a. of the NAV if GBP 100m or more. There are no performance fees payable. The contract is terminable on 6 months notice.
Peer analysis
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|---|---|---|
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| CATCo Reinsurance Opportunities Fund Ltd | 273.73k | 7.96m |
| Premier Miton Global Renewabls Trust PLC | -2.75m | -4.43m |
| Develop North PLC | 1.72m | 861.00k |
| Jarvis Securities Plc | 12.21m | 3.10m |
| Macau Property Opportunities Fund Ltd | 1.14m | -14.96m |
| Tavistock Investments PLC | 37.18m | -350.00k |
| ICG Longbow Snr Sec UK Prop Dt Inv Ltd | 4.95m | -24.88m |
| Worthington Group plc | -100.00bn | -100.00bn |
