Two former Exemplar directors have launched a new business that will bring forward the 240,000 sq ft office development at 80 Fenchurch Street, EC3.
Maxwell Shand and Campbell MacDougall have co-founded YardNine, a development company that will initially focus on completing the 14-storey scheme their former employer planned to develop until its co-founders decided to take a “siesta” from development until Brexit completes in 2019.
YardNine is bringing forward the speculative development on behalf of Partners Group, with construction due to start on site next month.
Shand said: “When Dan Van Gelder and Clive Bush [Exemplar co-founders] made the decision to have a break, Campbell and I saw it as a great opportunity to set up a company to continue the great work that Exemplar has been doing.”
They believe 80 Fenchurch Street will benefit from a slim pipeline of grade A office developments due to be delivered in the City in late 2019-2020, beyond AXA Investment Managers Real Assets’ 1.4m sq ft 22 Bishopsgate, EC2.
The duo have worked at Exemplar for 12 years, with projects including the Rex Building, EC4; 1 New Burlington Place, W1; and the London Fruit & Wool Exchange, E1.
MacDougall was Exemplar’s construction director, while Shand was a director responsible for sourcing, financing and delivering commercial and mixed-use development projects.
“Between the two of us, we can cover the development process from end to end”, said Shand.
The name of the company is intended to reflect both its ability to handle the whole development process and its interest in the “places and spaces” in and around buildings in London which could represent development opportunities.
YardNine will initially focus on mixed-use development opportunities in central London before considering projects in other areas of the UK.
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