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MHA has acted as reporting accountant for Develop North Plc on an initial £58m fundraise as the North East investment company looks to achieve the next phase of its growth strategy.
The fundraising is part of a plan to scale the company into a platform managing £300m in assets.
The company published its prospectus on 16 January 2026, outlining a new three-pillar investment model spanning residential real estate, commercial real estate, and real estate lending.
The evolution from a single-asset lending fund to a multi-real estate platform is currently subject to shareholder approval.
Since its inception in 2017, the London Stock Exchange-listed company has supported more than 43 projects, representing a combined gross development value of over £280m.
To date, the firm has deployed approximately £90m in capital and currently holds 16 projects in its live portfolio.
MHA’s team was led by corporate finance partner Rob Dando and head of capital markets Robin Stevens.
The fundraising follows a July 2025 announcement regarding a proposed change to Develop North’s investment policy.
Dando and Stevens said: “It’s been a pleasure to work on this capital markets transaction on behalf of Develop North. The company’s proposed investment strategy will drive investment and regeneration opportunities in the North East and, in the process, deliver long-term social impact commitments including job creation, commercial real estate opportunities and vital new homes.”
John Newlands, chairman of Develop North, added: “The publication of our prospectus represents a significant milestone for Develop North, setting out our proposed strategy to scale the company into a £300m multi-asset investment company and to invest in opportunities across the North East.
“Our proposed three-pillar deployment model will give us both diversification and resilience, and will be underpinned by a leadership team with deep regional expertise. We remain focused on delivering returns for shareholders whilst playing a role in the North East’s regeneration.”
