North East investment company Develop North PLC (Develop North) has reported a year of strong performance in its annual results for the year ending 30 November 2025, creating a solid platform for its next phase of growth following the publication of its new investment strategy and fundraise.
During the year, Develop North achieved a Net Asset Value (NAV) total return of 2.1% while continuing its consistent income delivery to shareholders, distributing approximately £1.0 million in dividends, equivalent to 4 pence per share. The company recorded a profit of £414,000.
Investment income increased by 14.6% to £2.22 million, with £9.5 million deployed across nine projects and three successful exits, bringing total exits since inception to 26.
The company’s total portfolio value increased to £24.7 million, with 70.3% of funds deployed in the North East of England, reflecting Develop North’s growing regional focus.
Develop North is listed on the main market of the London Stock Exchange and during the reporting period provided finance solutions to credible professionals and businesses across the North of England and Scotland, while generating attractive returns for investors. The company has since received shareholder approval for an expanded investment strategy, enabling it to operate as a broader real estate investment platform.
Since its inception in 2017, the company has supported more than 43 projects with a combined Gross Development Value exceeding £280 million, deployed approximately £90 million in capital and helped support an estimated 12,000 jobs.
Recent projects supported during the year included a retail scheme in South Shields, the renovation of a historic wedding venue in County Durham, industrial unit development near Northallerton and a boutique smart hotel in Edinburgh.
In addition, during this year, Develop North’s leadership team was strengthened by the appointment of Dr Sameer Al Ansari as a non-executive director and Deputy Chairman. Dr Al-Ansari is an internationally respected figure in finance, investment and corporate governance, and his appointment supports the company’s ambitions to raise its international profile and drive new investment into Develop North.
John Newlands, Chairman of Develop North, said: “The year under report has demonstrated the resilience and consistency of Develop North’s investment model, delivering reliable income and a positive total return while maintaining the strength of our loan book.
“Market conditions improved as the year progressed, with easing inflation and lower interest rates supporting confidence, and the North East economy continuing its upward trajectory through inward investment, regeneration and business growth.
“Our lending heritage has provided the disciplined foundation on which the company has been built, and that experience now underpins our transition into a broader real estate investment platform. These results give us a strong base from which to scale the business and capture the opportunities emerging across the region.”
Following the year end, shareholders approved Develop North’s new investment objective and policy, and the company published a prospectus outlining its ambition to become a £300 million assets-under-management multi-asset investment company, spanning residential real estate, commercial real estate and real estate lending. Michelle Percy was also appointed Chief Executive Officer to lead the next phase of growth.
Michelle Percy, CEO of Develop North PLC, said: “These results reflect the strength of the investment platform Develop North has built over nearly a decade. The company has established a strong track record, trusted regional relationships and a stable base from which to grow.
“Our next chapter is about scaling that success, attracting more capital into the North East and creating greater opportunities for both regional and national investors to participate in the region’s growth. With significant inward investment, regeneration and economic momentum across the North East, Develop North is uniquely positioned to channel investment into projects that support jobs, development and long-term prosperity.”
Develop North is advised by Newcastle-based fund management specialists Tier One Capital.