THE owner of the Albert Dock has appointed a new management team.
Arrowcroft has named Nicholas Hai as chairman and James Burchell as chief executive.
The group was founded in 1970 by Leonard Eppel, who died in August 2012. It is best known for its redevelopment of the Albert Dock, but has worked on many town centres and industrial estates throughout the UK.
Arrrowcroft has also bought developer Faircroft, which was founded by Mr Burchell in 1999 and has worked in partnership with Arrowcroft on smaller asset management, investment and refurbishment projects.
The companies have recently done deals with several banks to manage their portfolios of distressed assets. They have some £300m of such property under management.
Mr Hai has been with Arrowcroft for almost 30 years, first as development director and for the past 20 years as chief executive. He said: “I have known and worked with James for some 15 years and he has been based in our office since 1999.
“He has an excellent knowledge of our business, our procedures and our ethical values. His appointment is therefore a logical and practical progression.
“I am delighted that we have been able to bring Faircroft into Arrowcroft. James brings a great deal of experience and vigour and we are looking forward to the business continuing to grow.”
Mr Burchell said: “I am looking forward to continuing to develop the business in these challenging times.”