The wealthy owner of the River Island fashion chain has set up a subsidiary called Westmark to develop mixed-use schemes in the south-west.
The new company will be lead by Euan Cresswell, the former managing director of Beaufort.
The new enterprise, set up by the Lewis Trust Group, will initially target Bristol and South Wales. Cresswell is to drive the residential elements and commercial partners will deliver the commercial space.
The first project will be a £40m 120,000 sq ft (11,150 sq m) office scheme with UK & European Investments at Temple Back in Bristol. The 1-acre (0.4 ha) derelict plot in the city centre was bought from Persimmon City Developments for £4.5m.
Property Week 03/05/02 page 10
