Develop North PLC (Develop North), the North East England-based investment company, advised by Newcastle-based fund management specialist Tier One Capital (Tier One), has appointed Michelle Percy as its new Chief Executive Officer, as the company enters the next phase of its growth following the publication of its prospectus and the launch of a proposed £58m fundraise.
Michelle is one of the North East’s most well-known and highly connected regeneration and development leaders, with a strong track record of attracting investment and delivering complex, high-profile real estate and infrastructure schemes.
Her appointment comes at a pivotal moment for Develop North, which has set out its ambition to evolve into a £300m assets-under-management platform, supporting regeneration, job creation and economic growth across the North East.
Michelle joins the company following almost nine years at Newcastle City Council, where she played a pivotal role in fostering private-public partnerships and unlocking significant inward investment.
During her time at the council, she worked on major regeneration and development projects in Newcastle-upon-Tyne including Forth Yards, Pilgrim Street and Newcastle Helix, and was instrumental in securing funding for the restoration of the iconic Tyne Bridge, ahead of its centenary in 2028. Collectively, the schemes she helped deliver formed part of a development pipeline valued at almost £7 billion.
Michelle was also closely involved in engaging with major investors and stakeholders, including working alongside Newcastle United’s leadership team following the club’s takeover by a Saudi-led consortium, further strengthening the city’s global investment profile.
Prior to joining the council, she was Director at Clouston Group, where she worked on a number of landmark schemes including the Stephenson Quarter development and the Crowne Plaza Hotel in Newcastle, helping to build the company’s development pipeline and support long-term growth.
Michelle Percy, Chief Executive Officer of Develop North PLC, 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 helping to unlock inward investment while also giving people who live here, or who are from here, the opportunity to invest directly in the future of the region.”
“Develop North offers a compelling way for investors to play a part in shaping the North East’s next chapter, supporting regeneration, jobs and long-term economic growth. For me personally, this role is a continuation of my long-standing commitment to a region I care deeply about, and I’m excited to help build a platform that channels capital into projects that make a real difference.”
John Newlands, Chairman of Develop North PLC, said: “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.”
“As we enter the next phase of Develop North’s growth, including the launch of our proposed £58m fundraise, Michelle brings extensive knowledge and experience to lead the business forward. She combines deep regional knowledge with a proven ability to execute complex projects, and we are delighted to welcome her as Chief Executive Officer.”
Through its proposed investment strategy, Develop North aims to provide locally informed capital across residential, commercial and real estate lending opportunities, enabling both institutional and individual investors to participate in the region’s growth story.
Since its inception in 2017, the London Stock Exchange-listed company has supported 43 projects with a combined Gross Development Value (GDV) of more than £280m and helped support an estimated 12,000 jobs. To date, the company has deployed c.£90m in capital, with 16 projects in its current live portfolio.