Addington, the asset management and investment property company has recruited Nic Bouma to head its Development Management business.
Bouma has joined Addington from the V&A Waterfront (Cape Town, South Africa), where he was Development Manager reporting directly to the CEO of the 290 acre estate. Nic led the Strategic Master planning for the scheme and was responsible for the development inception and management of a number of key projects in the retail, residential, office and leisure sectors including Gateway Precinct Plan, (mixed use), Victoria Wharf Shopping Centre, (new build), Portswood Ridge (offices to residential), One Breakwater Boulevard (new build residential) and Two Oceans Aquarium (leisure/conference facility).
Prior to that he was Development Programme Manager for Barclays ABSA’s Gauteng property portfolio- ABSA (Johannesburg) being part of the Mace Group.
In joining Addington, Nic is re-united with former colleagues Martin Roberts and Matthew Allen, now Principals of Addington Capital and formerly UK Managing Director and Acquisitions Director at CIT Group Plc. At CIT Nic was Associate Director on the redevelopment of Abbey House and Aybrook Street residential schemes (GDV £200 m), a major refurbishment of 28 hotels (value £425 m) and refurbishment and extension of a number of centres in the Bourdon Shopping Centre Portfolio.
Commenting on the appointment, Martin Roberts said, “We had been trying to entice Nic back to the UK for some time. He has a great track record in development with strong experience in planning and project delivery and a broader financial and design expertise too, which makes him a great all rounder. He has managed over £1bn worth of development projects so far in his career. Addington now has a number of live development opportunities as we work to create value on existing schemes and look at future opportunities, and we know that Nic will help us to pursue these to the full.”
Addington was set up five years and now has now completed deals worth £478.5 million by value to date. It has expertise in three main sectors; Retail (it owns shopping centres in Harlow, Burnley, Cardiff and Torquay), Residential where it has 1,100 units under management including PRS, US air force houses in Suffolk and 250 units in Project Tree (flats above shops) and City of London office refurbishments. It is one of the few players in the market with hands on experience in both the residential and commercial sectors and works in partnership with a number of well known funding institutions to acquire and asset manage its properties.
