MHA acts as reporting accountant for Develop North Plc on multi-million-pound fundraise to support regeneration objectives
February 10th 2026
MHA’s corporate finance team has acted as reporting accountant for Develop North Plc (Develop North), the North East England-based regional investment company, on an initial £58m fundraise, as it looks to achieve the next phase of its growth strategy, to become a £300m asset under management company.
Develop North announced the publication of its prospectus (Prospectus) on 16 January 2026, showing how it aims to unlock investment, drive economic growth, support more jobs and deliver regeneration in the North East of England.
Seeking to evolve from a single asset real estate lending fund to a multi-real estate platform, the Prospectus sets out how Develop North intends, subject to shareholder approval, to build on its investment model through three deployment strategies spanning residential, commercial and real estate lending sectors.
Since its inception in 2017, the London Stock Exchange-listed company has supported more than 43 projects with a combined Gross Development Value (GDV) of more than £280m and helped support an estimated 12,000 jobs. To date, the company has deployed c.£90m in capital, with 16 projects in its current live portfolio.
Develop North’s 16 January 2026 announcement follows the company’s Change to Investment Policy and Potential Fundraise announcement published on 9 July 2025, which summarised the proposed investment objective and investment policy and discussed the potential fundraise.
John Newlands, Chairman of Develop North, said:
“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, spanning residential real estate, commercial real estate and real-estate lending, will give us both diversification and resilience, and will be underpinned by a leadership team with deep regional expertise.
“We remain focused on delivering attractive, sustainable returns for shareholders whilst playing a role in the North East’s regeneration. With major inward investment, £5.15bn of devolution funding and growing institutional interest in UK regions, this is an exciting time for the North East. By providing flexible, locally informed capital, we can contribute to regional regeneration, job creation and economic growth. We look forward to engaging with existing and prospective shareholders as we enter this next phase.”
MHA’s team was led by Corporate Finance Partner and Head of Transaction Services Rob Dando, and Head of Capital Markets Robin Stevens, with the team providing reporting accounting services to facilitate the fundraising.
Rob Dando and Robin Stevens commented: “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 significant investment and regeneration opportunities in the North East and, in the process, deliver long-term social impact commitments including significant job creation, valuable commercial real estate opportunities and vital new homes.”
