Harlex Property Launches.
Palmer Capital have not made a new property company investment for some years (last one was Angle in 2011) but for many years considered backing a Manchester property company. Manchester is the UK’s only major region where there is not an active Palmer Capital backed company. A renewed search was launched at the end of 2016 to find a suitable Manchester investment.
More than eighty potential property company investments were met as a result of this search. Approximately half of these were focussed on Manchester / the North West Powerhouse.However when Palmer Capital first met James Nicholson – who until that time had run the Manchester office of Kier Property – the benefits of a venture together were immediately obvious. James has been responsible for some of the region’s most high profile and respected developments.
Palmer Capital will be a proactive shareholder in Harlex supporting its proposed deals with the funds it manages, nurturing and guiding the company with an ambition that Harlex should become one of the most active and respected property companies within the North West Powerhouse region. Ray Palmer and Alex Price will join the board of Harlex. The new company will be run from offices at 31 Princess Street, Manchester, M2 4EW. Harlex Property commences business on the 2nd October with an immediate appetite to buy suitable sites.
About James Nicholson
James has over twenty year’s property development experience across all asset classes. At the beginning of his career he worked in the development and asset management sectors with CLS Holdings in London. Before establishing Harlex Property, James developed a wealth of knowledge and understanding of the property market in the North West as Development Director with Kier Property and prior to that Argent Estates. He has managed the acquisition and delivery of a range of high profile development projects across the region.
Palmer Capital is a UK focused real estate investment management company with >£860m of AUM (as at 30th June 2017). Founded in 1992, the company is privately owned and has c. 25 years of experience in direct real estate.
The business has two distinct divisions – minority share holdings in property development and asset management companies (Asset Management Platform) and the fund management of pooled or segregated property vehicles (Funds Management Platform). These complementary activities provide Palmer Capital with the advantage of being able to source and execute property transactions from the Asset Management Platform and to fund and structure these with the investors whose capital it manages in its Fund Management Platform, or utilising equity from its own balance sheet.