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Gloucestershire Business News

New director joins county developers

Cheltenham-based developer Formal Investments has appointed a new development director.

Richard Jones joins the company to oversee its UK projects in locations including London, Glasgow and Gloucestershire.

Mr Jones was previously a director in the Manchester office of Gleeds Management Services and has played consultancy roles in several Formal Investments developments.

Key live projects he will direct include Rectory Farm in West London, where a new public park will sit above underground warehouse space to be created by the discreet extraction of minerals, and the 60 Bath Street development in Glasgow, which includes the Scottish city's former BHS department store on Sauchiehall Street.

Closer to home, a £12 million new landmark office building is taking shape in Cheltenham. From early 2019 Honeybourne Place will provide more than 64,000 sq ft of prime grade A office space.

Mr Jones said: "I am very much looking forward to being part of a great team at Formal Investments. It's a developer with real vision and the ambition to create projects of the highest quality in superb locations for businesses and their workforces as well as the wider community.

"Projects such as Rectory Farm are absolutely groundbreaking, being both bold and innovative whilst serving a genuine need in its location and earning the backing of local people and authorities. That's a hallmark of Formal Investments and I'm delighted to be on board."

Formal Investments director Nicholas King said: "Richard is an excellent addition to the team. We know him very well and have long valued his contributions to our projects. In taking this leading role, he will be a huge asset in achieving our ambitious plans".

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