In a significant move for the North East property sector, Develop North has announced the appointment of Michelle Percy as its new chief executive officer. The Newcastle-based company, which is advised by fund management specialist Tier One Capital, is currently seeking to raise £58 million for investment in regional property projects.
A Proven Leader for Regional Growth
Ms Percy brings a wealth of experience to the role, having most recently served as director of investment and growth at Newcastle City Council. Her departure from the council last year followed a bullying complaint against former council leader Nick Kemp. While an investigation cleared Coun Kemp of breaching the council's code of conduct, the report did criticise aspects of his behaviour towards Ms Percy and noted the authority could have addressed her concerns sooner.
Prior to her council role, Ms Percy was a director at Clouston Group, where she worked on several landmark developments including the Stephenson Quarter and Newcastle's Crowne Plaza Hotel.
Commitment to the North East
"I am so proud to be taking on this role at such an important moment for Develop North and for the North East more broadly," Ms Percy stated. "The region continues to attract significant national and international interest, and Develop North has a unique opportunity to help unlock inward investment while enabling local people to invest directly in their region's future."
She emphasised that Develop North offers investors a compelling way to participate in shaping the North East's next chapter, describing her new position as a continuation of her longstanding commitment to the region she cares deeply about.
Company Expansion Plans
Develop North chairman John Newlands welcomed the appointment, saying: "Michelle brings an outstanding pedigree to Develop North. Her track record of securing investment, delivering major regeneration schemes and building effective partnerships across public and private sectors is second to none in the North East."
Mr Newlands highlighted that Ms Percy's extensive knowledge and experience will be invaluable as the company enters its next growth phase, including the launch of its proposed £58 million fundraising initiative.
Substantial Regional Impact
Since its establishment, Develop North has supported 43 projects with a combined gross development value exceeding £280 million. The company aims to provide locally informed capital across residential, commercial and real estate lending opportunities, enabling both institutional and individual investors to participate in the region's growth story.
The company has recently identified more than £175 million worth of pipeline opportunities alongside its £58 million fundraising plans, positioning itself for significant expansion under its new leadership.
