Lateral Property Group has appointed the property specialist responsible for delivering the largest Marks & Spencer store outside of London to head up its operations in the North East.
Chris Newsome, who has more than 25 years’ experience in the property development and acquisition industry, will oversee the company’s North East activities, which currently includes a planned food store development in Darlington.
The company has submitted an outline planning application for a mid-sized foodstore, with a sales area of 32,000sq ft, on the former SCA Packaging site in Faverdale.
Chris will also be responsible for identifying and delivering site acquisition targets across the region as the company looks to expand its retail property portfolio.
Lateral Property Group, which already has a number of property interests in the region and has its Northern offices in Harrogate, has extensive experience in the retail industry, having developed food stores for Marks & Spencer, Morrisons, Tesco, Co-op and Sainsbury’s with a growing food client portfolio including developments currently in planning for Asda and Aldi.
It also has extensive experience in the leisure market with developments for restaurant chains including Jamie’s Italian, Nandos and Pizza Express.
Chris, who began his career in the North East when he studied for his HND in estate management at Newcastle Polytechnic in 1983, joins Lateral Property from Simons Developments Ltd.
During his time with the company he was directly responsible for the delivery of Marks & Spencer’s flagship store in Cheshire Oaks in the North West. The 195,000sq ft development is Marks & Spencer’s second largest store in its portfolio behind Marble Arch in London.
Other projects Chris has delivered include the North Lincolnshire Shopping Park in Scunthorpe, which brought Marks & Spencer and Debenhams to the town.
He has also worked directly for Marks & Spencer and McDonalds Restaurants Ltd where he was responsible for the acquisition of new stores in regions including the North East.
He said: “The North East has always offered a vibrant retail landscape and I am looking forward to developing opportunities in the region for Lateral Property. The plans Lateral has for Darlington, for example, demonstrate its ambitions for the North East and its commitment to supporting investment and job creation.”
Philip Lunn, managing director of Lateral Property Group, said: “Chris is one of the most talented professionals in the retail property sector and is the perfect person to head up our North East operations. We have always had strong links with the North East and Chris’s appointment will enhance our advocacy for the region in our relationships with operators.”
Lateral Property Group is a respected UK property investment and development company based in Mayfair, London, and Harrogate, North Yorkshire. Founded in 2008, Lateral has quickly established an excellent track record of commercial property development, investment acquisitions and asset management in the food store, restaurant and retail and leisure sectors. In the past five years the company has completed 47 developments, refurbishments and acquisitions comprising circa 325,000sq ft.
Lateral has a team of experienced and entrepreneurial property developers and investment specialists and is led by its founders Philip Lunn and Steven Redshaw.
Philip has 17 years of investment, development and asset management experience across all sectors specialising in both in-town and out-of-town retail and leisure. Prior to co-founding Lateral, Philip’s career has included eight years with Savills followed by five years as managing director of a private property company.
Before co-founding Lateral, Steven spent eight years at Morgan Stanley working in the Real Estate Investment Banking Group. He was involved in more than £8bn of transactions for public and private property companies, private equity firms and corporates in the UK, Europe and the US. His career began in the investment division of CBRE, where he spent five years.
In addition to its own investments and developments, Lateral works with a number of institutions and FTSE 250 companies across a variety of sectors as well as private equity, high-net-worth individuals, UK funds, private businesses and landowners.