Nick Hynes MAG

Ex-Magnus owner joins Airport

Jessica Middleton-Pugh

Nick Hynes, former managing director of commercial property landlord Magnus, is to join Manchester Airports Group's property division in a senior role.

Hynes founded Magnus, which owns and manages a portfolio of offices across Manchester city centre, in 1988. The company was refinanced and merged with US investor Karlin Real Estate in September 2014. Karlin has begun offloading Magnus assets with the sale of 44 Peter Street and 19 Spring Gardens to Credit Suisse for £20m at the end of last year.

Following the takeover, Hynes left Magnus and formed his own consultancy, Nick Hynes Property Consultants. Hynes is also property director at Evermore, a developer of retirement living schemes.

Hynes' appointment is the latest in a series of senior personnel changes at MAG Property. John Atkins, managing director, left in December 2014 to join NJL Planning. In June 2014, former director of real estate at Aberdeen Asset Management, Lynda Shillaw, joined MAG as property chief executive. In October 2013 Airport City director Karen Campbell resigned after 10 months in the role.

Airport City has consent for 1.4m sq ft of logistics space, 1m sq ft of offices and 36.6-acres of landscaping at Airport City South. The development is being delivered by MAG, Argent Beijing Construction & Engineering Group, Carillion and Greater Manchester Property Venture Fund. The letting agents are CBRE and JLL.

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