Marrico

Marrico Asset Management LLP operates as a property-based developer and investor within the United Kingdom. The firm specializes in the acquisition, development, and funding of both residential and commercial property developments across the country. Over the past decade, Marrico Asset Management LLP has successfully completed a diverse range of projects throughout the UK. The company is actively engaged in new construction, with developments currently under construction valued at £60 million Gross Development Value (GDV). Additionally, the firm has secured further sites through exchanged contracts, which are projected to increase its total GDV to over £250 million in 2023.

The company possesses considerable expertise within the UK property markets, complemented by substantial local specialist knowledge, particularly within the North of England. This regional focus allows Marrico Asset Management LLP to navigate specific market dynamics and opportunities effectively. The firm's business model encompasses the entire development lifecycle, from identifying and acquiring suitable sites to securing funding and overseeing the construction and completion of its projects. This integrated approach supports the delivery of various property types, catering to both residential and commercial sectors.

The leadership team at Marrico Asset Management LLP brings extensive experience to the firm's operations. Mark Barnes, a Managing Partner and MRICS-qualified professional, has been with Marrico for nine years and possesses over 32 years of experience in the property market. Prior to joining Marrico, Mr. Barnes headed the Development Department for King Sturge in the North of England and led the Retail Development team for King Sturge across Central and Eastern Europe. Richard Bland, the Financial Partner, has also been with the business for nine years. Mr. Bland previously served as the Head of the Property Finance team for The North of England at RBS, where he managed a loan book of £1 billion, and later worked as a consultant to the Debt Team at PWC. Scott, who joined Marrico in 2013 as a Development Manager, was appointed Development Director in 2024, having contributed to all aspects of the development process for the company.

Marrico Asset Management LLP's portfolio demonstrates its capacity for delivering complex and varied developments. Notable projects include the Sovereign Square Hyatt in Leeds, a 14-storey hotel featuring 305 rooms, a ground-floor restaurant, and a 12th-floor rooftop bar, which was acquired from Leeds City Council under a development finance agreement and has since been completed. The firm also undertook the Lisbon Street development in Leeds, a significant mixed-use scheme. This project notably includes the 548-bed Threadworks PBSA, which reached completion in October. The Lisbon Street site, acquired from Leeds City Council, also encompasses plans for two build-to-rent towers, comprising 629 apartments across 33 and 22 storeys, and a new room2 hometel.

Further examples of the company's development activities include Strawberry Place in Newcastle, a mixed-use development adjacent to Newcastle United Football Ground, anchored by 115,000 square feet of space. In Leeds, Marrico Asset Management LLP developed Central Square, which features 201,000 square feet of office space and 20,000 square feet of supporting leisure and retail facilities. The firm also managed the development of Broomgrove Gardens in Sheffield, a new build comprising 30 apartments for a consortium of investors, with the site having been acquired in April. These projects collectively highlight Marrico Asset Management LLP's broad capabilities in property development across different sectors and regions.