Drum Property Group (Drum) has undergone expansion, with a new investment division set up to complement the firm’s development activity.
The new operation is based in Edinburgh and led by Bryan Sherriff, previously of Coldspring Asset and Development Management and now Aberdeen-based Drum’s investment director.
Drum, which is currently working on projects worth more than £1billion, said the expansion allowed it to continue its focus on “risk-controlled” development and also make inroads into the UK-wide investment market.
The group will either look to acquire assets or work with strategic joint-venture partners on development or investment projects.
Drum said it already had a strong track record of working in partnership with institutional clients.
Mr Sherriff’s arrival would help the firm to build on this and develop successful partnerships across investment, development and asset management projects, it added.
Managing director Graeme Bone, said: “Drum is at an exciting stage of growth, and I am delighted that such a well-respected operator of Bryan’s calibre and experience is joining us.
“He will greatly enhance the strength of our executive team and management capabilities, and be central to driving our future growth.”
Mr Bone added: “We feel that there is an opportunity in the current cycle to establish a Scottish-based investment offering.
“By combining the wider Drum senior management team with Bryan’s experience of the UK market, as well as his previous experience in working with joint-venture partners, the new division will offer a unique structure and co-investment offering in the current economic climate.”