Birmingham-based Nurton Developments has launched a new investment vehicle, Nurton Capital, led by Ashley Hudson, former partner and head of Knight Frank’s Birmingham office.
Seeded with significant capital from Nurton Developments, Hudson will look to partner with investors to build a rolling portfolio of £100 million, targeting subdued and mispriced properties in strong locations which can be actively asset managed to create robust returns.
Hudson brings with him 30 years in commercial real estate. Moving to Knight Frank in 2003, he ultimately led the office to a team of 50 and established it firmly as one of the city’s leading advisers and worked with a wide range of clients including family trusts, high-net-worth individuals, developers, private equity and UK & overseas institutions.
Notable deals during his time at Knight Frank include the £55m acquisition of M&B’s Birmingham HQ for US investor Blue Owl, the £10m purchase of the Chatwin Building on Colmore Row for Kinrise, and the site acquisition, structuring & funding of 103 Colmore Row for Sterling/Tristan Capital Partners. Hudson has advised clients in all sectors from Industrial development to prime offices to retail warehousing and long income.
Hudson said: “This is a hugely exciting opportunity to combine Nurton’s enviable track record as a Midlands family business, with over 20 years of experience in value-add and development, alongside my own industry expertise, market knowledge and strategic direction.
“The current investment market is subdued and somewhat dysfunctional and we believe Nurton can capitalise on this and appeal to partners who want to invest in underperforming but well-located assets — the kind of ‘core plus’ opportunities where value can be added.
“Our focus will be on mature markets such as the Midlands, Manchester and Bristol, with the aim of growing assets over the next one to five years. Together we are well placed to build a high-quality portfolio.”
Hudson joins a number of high-profile appointments at Nurton in the past two years including Guy Bowden from Bridges Fund Management, Ian Harris, who leads a new joint venture, Nurton Retail Ltd, and Peter Leaver, former JLL Head of Midlands Planning and Development.
David Bradshaw, managing director at Nurton Developments, said:
“The market is offering real opportunities for well-funded, experienced investors. With Ashley’s widely recognised expertise and network, Nurton Capital is well placed to find and deliver them.
“We welcome Ashley to our growing team which offers a wealth of industry experience to enable us to invest in a number of exciting opportunities to grow our business and significant existing asset base across a variety of core sectors that are currently under management’.
Nurton Developments specialise in value-add investment and strategic land promotion, aiming to create high-quality investments and sustainable schemes, enhancing spaces through asset management, refurbishment and repositioning, working independently or in joint ventures with third parties.
