Prosperity Developments has signalled its ambitions for further growth by joining forces with strategic and professional development manager F3GROUP.
The move is expected to pave the way for Prosperity Developments to bring forward plans for a series of new development schemes nationwide. The developer, which is headquartered in Birmingham city centre, has a portfolio of 34 new-build and conversion projects with a GDV of more than £400 million.
Joe Billingham, founder and chairman of Prosperity Developments, said: “This is an exciting new partnership between two partners with complementary skill sets. F3GROUP is a hugely respected consultancy with vast experience of advising on and delivering major development projects and we see our relationship as a vehicle for significantly increasing opportunity.
“Prosperity has carefully developed a reputation for bringing profitable pre-built and off-plan property investments to market, with an emphasis on key locations where yield and rental demand is high. The joint capability of both partners will allow us to take advantage of a large pipeline of potential development schemes across the UK and deliver at a bigger scale than ever before.”
Gavin Gleave, chief executive officer and director of F3GROUP, said: “This new partnership brings together two organisations with mutual values and experts in their fields.
“Prosperity has a wealth of experience in offering a select range of first-class pre-build and off-plan property investments to a global audience. Prosperity’s current and promising pipeline of schemes in Birmingham will allow us to offer our full scope of services to a new location and further to build our portfolio. Birmingham has great potential in the market and we look forward to working with Prosperity to deliver this series of new schemes.”
Established in 1982, F3GROUP has played a key role in the delivery of several multi-million pound residential, regeneration and public sector projects, including the Library of Birmingham, Hartpury College, Hillsborough Castle and the 1,200 home Shinfield West development in Reading.
The consultancy employs more than 100 experienced and creative professionals, encompassing strategic advisors, investment, development and construction professionals, who collectively manage a large volume of development and project activities each year.
Founded in Birmingham in 2007, the Prosperity group of companies build, develop and sell buy-to-let apartments to a global investor audience. The company has recently completed the redevelopment of B1 in Edward Street, Birmingham, which comprises 63 one- and two-bedroom apartments. It also plans to develop one of the largest residential projects within Digbeth, with more than 800 units.