Pete Adams, former chief quantity surveyor at housebuilder Lovell, has joined the regeneration company as commercial director.
In his new role, Adams will take responsibility for building the commercial and cost management functions of the business, to support its growing pipeline of development opportunities.
Place Capital Group was set up this year by property veterans David Smith-Milne and Peter Martin, the former founder and chair respectively of Salford-based regeneration specialist Placefirst.
Place Capital aims to improve the quality of housing across the country by working with councils and landlords to unlock potential from neglected housing estates. It operates a buy-and-build model that involves purchasing a target company and making substantial additional acquisitions in the same sector to build up strength and market share.
In February, the company acquired Fourth Street Place Consultants, a boutique advisory practice that works with councils and developers on place-led development and regeneration strategies, for an undisclosed sum. It will announce its second acquisition in July, and to launch its first major housing project later in the summer, Place Capital’s directors said today.
Meanwhile, the company is in other discussions with local authorities as it seeks to build up a pipeline of housing-led regeneration schemes, focussing on renewal of former council estates.
As commercial director, Adams will join Place Capital’s senior leadership team. His appointment follows that of development director Faye Whiteoak, head of operations and marketing Vicky Hoare, and Smith-Milne’s executive assistant Sarah Sharp, in May.
Smith-Milne said: “Having worked with Pete in the past, we knew immediately that he would be the right fit for our business. Pete shares our culture and mindset, which is to disrupt the mediocrity that characterises so much of the housing sector and to deliver projects that put the end user, not the investor, at the core of development plan.
“He is technically excellent and has a personality and character around which we can build a high functioning, but values-led commercial team.”
Adams added: “David’s energy and vision have led to rapid growth in the Place Capital Group project pipeline. The entire team is now focused on securing planning permission for several major development and place making projects, which I will be taking to market later this year.
“Our intention is to partner with a construction supply chain that shares our ethos and values, to create significant social value, while delivering imaginative, design led solutions to much forgotten former council estates.”