Firm has previously not operated in London
Tom Bloxham, the founder of developer Urban Splash, has revealed the company is eyeing the London market for the first time since the firm’s creation 20 years ago.
Bloxham told Building that, after “the toughest three years of his career” he would look anywhere for the right projects, including London and the South-east where the majority of development is happening.
He said: “We have always had a desire to do something here [in London] and the issue has always been entry or acquisition costs […]
We are much keener in today’s environment to do joint ventures than we have been in the past so London should, quite possibly, keep an eye out for us.”
Bloxham’s decision to explore opportunities in the capital comes after the value of the regeneration developer was slashed by half from £92.7m to £45.5m in a set of 2009 results that Bloxham described at the time as being “humbling”.
He insisted the firm was getting back on track by focusing more on investment and through working on high profile schemes such as the £120m Park Hill scheme in Sheffield launched in September. Results for the firm for the year ending 31 March 2010 showed turnover fell from £49.9m to £34.5m but losses also fell from £38.3m in 2009 to £10.6m.
For the exclusive interview with Tom see Building tomorrow