Three experienced industry figures have launched a new property company and set out plans to build a £1bn portfolio over the next five years.
Sedulous Developments will specialise in build-to-rent (BTR) schemes and the regeneration of key urban sites across Manchester and Liverpool.
The company has been co-founded by Peter Cranney of specialist residential development and sales company Pires Land Consultants; Sean Marshall, owner of Liverpool-based property management company Marshall Property; and Zead El Dammaty, part of Egypt’s prominent Dammaty family and UK-based property company Abydos Holdings in London.
Abydos will provide the equity funding for Sedulous and the company is already under offer on several projects and is poised to announce its first major deals in the coming weeks.
Sedulous will work closely with local councils, housing associations and other like-minded property companies to execute its strategy of revitalising underutilised sites.
Peter Cranney, chief executive officer of Sedulous Developments, said: “I’ve worked with Sean for many years, selling land sites to developers. It was during a deal we were both involved in that I first met the Dammaty family. Mr El Dammaty appreciated our approach to business and given our shared values of trust, transparency and a proven ability to deliver, we recognised an opportunity to create a new venture that would drive major regeneration across the North West.
“We are here for the long term and committed to building strong relationships with local councils and key stakeholders. Together, we aim to create new destinations in Manchester and Liverpool that reflect positive change, delivering projects that the communities can take pride in and create a legacy across the North West that everyone can be proud of.”
