Former directors take on three Collective projects

George Sell George Sell Uploaded 18 October 2021

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UK: Several former directors of coliving operator The Collective, have set up a new company to build out some of The Collective's development pipeline. schemes.

Former Collective COO Neil McLeod, investment director Dom Butler, and head of development Russ Beresford have formed the new company, called Halcyon Development Partners. They have been joined by four other former Collective employees - associate director of development Nik Dyer, associate director of construction Kieran Devenish, senior development manager James Knight and head of planning Harry Manley.

Halcyon will take on three London projects that were being built by The Collective in its role as developer for the DTZ Investment Management's COLIV fund. It will develop a 222-room development in Harrow, a 315-room project in Earlsfield and a 270-room project in Battersea on behalf of DTZ Investors and the fund’s investors, CoStar said. All three are due to launch in 2022 or 2023.

The Collective was placed in to administration last month. Six of its other assets have been acquired by one of its lenders, GCP Capital's GCP Asset Backed Income Fund.

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