Stoford is celebrating the success of two major pre-let contracts worth in excess of £5 million with the announcement of a company restructure and the appointment of new joint managing directors.
The contracts, both on the Castlegate Business Park in the Black Country will see Stoford develop a 63-bed Premier Inn hotel and a 10,000sq ft, two-storey building pre-let to the West Midlands Probation Service on a 10 year lease.
Planning has been granted for both schemes which are scheduled for completion mid 2013.
The leading Birmingham-based property specialist has promoted Dan Gallagher and Matt Burgin to now head up the company. It will enable current managing director and joint owner Jon Andrews to focus on business strategy and new opportunities whilst remaining a director.
Mr Andrews said he and co-owners Dominic Stokes and Dave Brown had carried out the restructure to reward commitment and provide opportunity from within.
It followed the retirement last year of Chris Lea, one of the founding directors and has now led to long-term succession planning, introducing new shareholders from within the existing team.
“Dan and Matt’s commitment and drive will help them lead the Stoford team in moving the business forward and building on one of the most successful periods in the company’s history,” he said.
Dan Gallagher joined Stoford in 2003 from Savills and was appointed development director in 2006. Matt Burgin joined in 2006 from consultancy DBK Group to lead Stoford’s construction project management team.
Stoford’s current portfolio of secured projects stands at circa £80 million and includes the 215,000sq ft HQ building in Cardiff which it is developing for insurance giant Admiral and the newly completed £20 million regional distribution centre in Avonmouth, Bristol for the Co-operative Group.
Stoford was established in 1997 by Chris Lea and Dominic Stokes and employs 16 staff at its head office in Lancaster House, Newhall Street.