Lord Stuart Rose and Terry Green have invested an undisclosed sum in Select Property Group, the Cheshire-based developer, retailer and operator of investment property brands.
Rose is best known for his time as chief executive and chairman of Marks & Spencer. Until recently he sat on the board of Land Securities.
Green made his name in retail during his time at Debenhams in the nineties and met Lord Rose at the Burton Group before undertaking further board-level positions at BHS and Tesco.
Rose and Green join a range of other retail experts involved in the business including Angus Monro, former chief executive of Matalan and Instore, and Trevor Moore, former chief executive of Jessops and HMV, who both hold board-level positions at Select.
Select Property Group is a retailer of investment property. Established in 2004, the group delivers investments in emerging markets and through the identification of niche opportunities in established markets. Projects include the development of 260 flats for rent under its Citysuites brand at Greengate Embankment in Salford, and the Vita Student scheme in First Street in Manchester.
Select Property Group has six fully operational student schemes in the UK under the Vita brand with three more in development. The group is also in a JV partnership with Bruntwood to deliver the residential aspect of a £750m mixed-use scheme on the former BBC site in Manchester which will launch a new private rental sector brand which is yet to be announced.
Rose said: “Select’s unique approach to the property market makes the company a particularly interesting investment. While other providers focus on development, with the sales and operational activity often outsourced to third parties, Select’s control over the whole process allows it to manage every aspect of the investment lifecycle.
“The years I spent at the heart of retail means that I deeply appreciate the value of great customer service, and this is closely reflected in Select’s philosophy. This retail-led approach has enabled them to deliver an exceptional product in the student accommodation sector, a formula which I believe they will go on to replicate across multiple markets.”
Green said: “The company and its board have a clear vision to develop and maintain brands that understand the end user and cultivate customer loyalty, all of which equates to a high-performing investment.”