Sedulous Developments enters market with £1bn ambition

Peter Cranney, founder of PIRES Land Consultants, is at the helm of the new venture, which has a target to construct a £1bn build-to-rent and regeneration empire within five years.

Cranney is the chief executive for Sedulous Developments and the co-founder, alongside Marshall Property owner Sean Marshall and Zead El Dammaty. Marshall is Sedulous’ chief financial officer and El Dammaty is the director.

El Dammaty is part of the Egyptian Dammaty family, which owns investment firm Abydos Holdings. Abydos is supplying the equity funding for Sedulous’ £1bn goal.

Cranney shared how Sedulous came to be.

“I’ve worked with Sean for many years, selling land sites to developers,” he said. “It was during a deal we were both involved in that I first met the Dammaty family.

“Mr El Dammaty appreciated our approach to business and given our shared values of trust, transparency, and a proven ability to deliver, we recognised an opportunity to create a new venture that would drive major regeneration across the North West.”

Sedulous is based in Liverpool. It hopes to work across the North West, with offers already in place on “high-profile” projects in Manchester, according to a press release.

The developer hopes to work with housing associations, local councils, and other companies to breathe new life into brownfield sites.

“We are here for the long term and committed to building strong relationships with local councils and key stakeholders,” said Cranney.

“Together, we aim to create new destinations in Manchester and Liverpool that reflect positive change, delivering projects that the communities can take pride in and create a legacy across the North West that everyone can be proud of.”