Manchester-based Zeus Group has announced the launch of Zeus Land, a new investment and development company, led by former head of Rok Developments' Manchester office, Jonathan Conway.
"We've been assessing the value of the property sector for some time," said Richard Hughes, co-founder of Zeus Group. "With a view to entering it when we could see a significant return."
The property subsidiary will be run from Zeus' head office in Ralli Court, Manchester city centre.
Zeus Land will "draw on the group's substantial financial resources and established banking connections" and will target acquisitions in commercial and residential sectors.
Conway began his career at Amec Developments in 1993, moved on to spend five years at Arrowcroft, where he became development director of property, then joined Hurstwood as property director until 2005 when he joined Rok Developments.
Conway said: "The added value that an outfit like Zeus brings cannot be underestimated, both in terms of financial strength and expertise. Working alongside partners Dominic Ryder and John Hirst, we're already looking at a number of opportunities including funds and distressed sales.
"Our ethos is simple: to acquire sites where we see a major future growth potential. We are currently in talks with a number of developers and investment agencies and are already considering a programme of acquisitions across the North West and futher afield.
"We are also interested in speaking with landowners or smaller developers, who are looking for an opportunity to divest their existing property assets and where we can help solve a property issue."