10 Nov 2016
Paul Curran, Managing Director of Edinburgh-based Quartermile Developments, has been announced as the new Chairman of the Scottish Property Federation (SPF).
Succeeding current Chairman Chris Stewart, Chief Executive of the Chris Stewart Group, Paul took up his new position at the SPF’s Annual Dinner at the Edinburgh International Conference Centre on 10 November 2016.
Paul, as the SPF’s figurehead in Scotland, will use his new position to advocate the benefits of the real estate sector to the Scottish economy but also emphasise the importance of attracting global capital to Scotland which can in turn be invested locally.
David Melhuish, director of the SPF, said:
“We are delighted to welcome Paul Curran into his new role as Chairman. Chris Stewart has done an exceptional job over the past year, raising both our profile and engagement with government, particularly on the importance of the capital markets to the Scottish real estate industry. This is something I think Paul’s experience in working on large-scale developments and attracting investors to local Edinburgh developments will take forward.
“We look forward to working with Paul over the next 12 months to continue to strengthen our growth strategy set to benefit the property industry in Scotland.”
Paul Curran said:
“Scotland’s real estate industry contributes just under £6bn a year to the economy. Its continued growth is essential for further financial and societal benefits, including a better built environment and job creation.
“As Chairman of the SPF, over the course of the next 12 months I will focus on how we can further positively develop the industry for the nation’s advantage. In particular, we need to consider how we can make development and investment in Scotland much more attractive.
“We need to secure international capital to invest in property and infrastructure across the country. This in turn will create opportunities and drive growth in our local communities.
“In addition, we will explore how the private and public sectors can work closer together to secure this type of international investment for Scotland. The impact of land tax and business rates will form part of this dialogue to help us forge a way forward.
“I’m looking forward to working with David Melhuish and the team over what will be an extremely important 12 months for Scotland’s economy and the real estate sector.”
Paul is responsible for both Quartermile Developments’ strategic direction and the company’s successful project delivery. The business is based within its flagship Edinburgh city centre development.
Quartermile has a gross development value of £650m and is expected to be completed in 2018. When finished, the development will provide Edinburgh with 1,050 apartments - of which more than 630 are already occupied and another 176 under construction – along with 370,000 sq ft of Grade A office accommodation, 65,000 sq ft of retail and leisure space and seven acres of open landscaping.
Paul has over 20 years’ experience in the industry. Before joining Quartermile Developments in 2005, Paul worked as a chartered surveyor in both the public and private sector and was involved in a number of high profile developments throughout the UK.
In 2013, Paul led the corporate acquisition of Quartermile with the backing of the London-based private equity fund Moorfield.
In 2014, he was responsible for an £82m funding deal with M&G Real Estate for the speculative development of the Quartermile 3 and Quartermile 4 office buildings. This represents one of the largest forward funding deals ever achieved in Scotland.
Last year, Paul secured Edinburgh’s two largest consecutive commercial pre-lets for ten years with back-to-back deals within the £50m Quartermile 4 office building.
In addition, Paul led a deal which saw the University of Edinburgh acquire the Category A-listed Surgical Hospital building in December 2015. The building will provide a home for its new interdisciplinary hub that will unite business and public policy to address societal and environmental challenges.
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