Helical Bar chief executive Mike Slade has teamed up with Rok’s two most senior commercial property directors to launch a development company focusing on the South of England.
Tim Titheridge, who quit as Rok’s managing director in the south at the beginning of the year, and development surveyor Andy Goodridge, who left Rok last week, have tied up with Slade to create City Estates, focusing predominantly on industrial opportunities along the
Titheridge and Goodridge will manage the company with financial backing from Helical.
City Estates is the name of the company South coast property veteran Titheridge founded in 1985.
Rok bought the developer in 2001 for £785,000 in shares, cash and loan notes
Titheridge began talks with long-term associate Slade last year about the venture after building and development group Rok decided to scale back its focus on commercial property development in the face of declining yields.
He subsequently enlisted Goodridge. The two will work from serviced offices at
Goodridge said the company would focus particularly on industrial estates that can be improved and updated and would not be looking to build speculatively in the current climate.
“We have a real advantage in having Helical Bar behind us,” said Goodridge.
“I imagine it is not so easy in the current market if you are relying on bank finance. We can afford to take our time.”
While at Rok, Titheridge and Goodridge worked on some of the
City Estates will target the south coast and inland as far as Oxfordshire.
