Ex Capital&Centric director launches AIM Civic
After the successful completion of Weir Mill in Stockport, Richard Spackman has branched out to form his own company with the backing of investor Yousuf Ayyub Bux of AIM Capital.
AIM Civic is based in Preston and is focussed on projects with a gross development value of between £50m and £100m. It has capital ready to deploy on schemes.
Spackman’s goal for AIM Civic is to create “thriving places” with a focus on delivering affordable housing.
To do this, AIM Civic will bring together local authorities, registered providers, landowners, and funding partners early doors to help shape a united vision from the get-go.
“We want to be a catalyst for regeneration,” Spackman said.
Bringing those partners together at the start will also help share development risk so that targets around affordable housing, for instance, are not lost amidst viability pressures.
“For me, the important thing about investing early is the shared partnership it creates,” Spackman explained.
“We’re taking on risk alongside our partners, which means we’ve got a collective interest in finding the right solution and seeing it through to final delivery.”
Spackman emphasised that affordable housing will play a key element in AIM Civic projects and is part of the reason for the approach to bring together partners at the start, rather than halfway through the development process.
“Affordable housing is a real opportunity to think positively about what a place can become,” Spackman said.
“Making it part of the conversation from day one means housing providers can help shape the development, rather than being brought in once the so-called ‘important decisions’ have already been made.”
He shared a bit more about AIM Civic’s modus operandi for development.
“We don’t approach a project with a predetermined answer or a fixed playbook,” Spackman said.
“Every opportunity is different, and understanding what the council wants to achieve, what matters to the local community and what our delivery partners need gives us the foundations to create something that is ambitious yet grounded in local priorities,” he continued.
“Ultimately, it’s about delivering real value for the area and creating the conditions for lasting impact.”
Building on Spackman’s background at Capital&Centric and DeTrafford, the initial focus will be on the North West. However, he has a national vision for the company and expects to be down in the Midlands and elsewhere in the near future.
