Business

Sirocco Works developer renamed as it presses ahead with £5bn projects

Jim and Conor Osborne from Osbone and Co (formerly Vanguard Real Estate)
Gareth McKeown

THE developer behind the £400m regeneration of Sirocco Works site in east Belfast has been renamed as it targets a £5 billion global investment programme.

Vanguard Real Estate, who just last month received planning permission for the £50m first phase of the Belfast Waterside development, is now known as Osborne and Co. The global headquarters of the firm is also now operational in London, complimenting established offices in Europe, the Middle East and Asia.

The real estate developer, which operates under the leadership of founding directors Jim Osborne and Conor Osborne and its executive management team, has a worldwide portfolio worth £2.5bn and is targeting a development pipeline with a gross development value of £5bn over the next three years. This includes new developments in Europe, the Middle East, India and South East Asia.

As Osborne and Co it plans to expand existing operations across the world, focusing on developing, building and owning buildings in partnership with local best-in-class joint venture partners and tenants.

Within the UK the company is undertaking works worth £1bn, with major schemes in Belfast and Glasgow totalling a combined £550m. The Belfast Waterside development will deliver the first major employment activity at the former Howden Sirocco site in almost 20 years, with the first phase for a 250,000 sq ft Grade A office scheme, accommodating up to 2,500 employees approved by council planners last month.

To support its planned the growth the company has announced a series of senior appointments to its executive management team

Conor Osborne, director of Osborne and Co said the name change is a positive step for the company.

"It equips us well to move towards our wider global vision for growth and to build upon our market-leading reputation. As our client base and investment activities have become more diversified, unifying our business structure will allow us to simplify how our tenant partners and local development partners interact with us."

The partners of Osborne and Co have delivered projects totalling an estimated £2.5 bn across four continents, including a 1 million sq ft office building for Citigroup in Manila, HSBC’S new 320,000 sq ft headquarters in Dubai and Standard Chartered’s Dubai HQ.

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