Joe Downey becomes Director and shareholder of Bristol-based property developer Cubex
Property developer Cubex has appointed Joe Downey as Director. He has also bought into the business to become a shareholder.
Joe Downey, who has a proven track record in property acquisition and development, will head up the business alongside managing director Peter Walford. Bristol-based Cubex has been developing and investing in property in the South West and South Wales since 2004.
Joe said: “With a number of deals poised to complete in the coming weeks, combined with a strong portfolio of newly acquired and live projects, it’s a very exciting time to be taking up the role of director at Cubex.
“The South West and South Wales are among the most undersupplied regions in the UK when it comes to high quality logistics space, so there’s a huge opportunity here to meet growing demand in this market. We also expect to see the continued growth of build-to-rent, alongside private sale and affordable housing schemes as urban populations continue to rise.
“With an excellent track record in delivery combined with deep local knowledge and property expertise, Cubex has an exceptionally strong future ahead of it and I’m very much looking forward to being a part of its growth.”
Joe joined Cubex a year ago having previously been managing director of London-based property investor and developer Queensbury Capital, which he founded and was later backed by Fiera Real Estate. Prior to this Joe acquired and developed property for FTSE-listed Fraser Group.
Peter Walford, managing director of Cubex, said: “Joe brings with him significant property expertise and business acumen which will be invaluable in leading and shaping the future of Cubex in the years to come. There is significant potential in the residential land and logistics sectors as we look ahead to 2022 following a successful year. With a strong development pipeline and excellent team in place, it looks set to be another exciting year for Cubex.”
Cubex together with its funder Fiera Real Estate recently announced the acquisition of a 12-acre site adjacent to the M5 near Highbridge, with plans to secure planning permission and speculatively build a Grade A 160,000 sq ft logistics unit. This marked Joe’s first deal since becoming a shareholder in Cubex and represents the firm’s shift towards the logistics market.
Cubex is currently developing the second phase of its widely praised major regeneration project at Finzels Reach, which has seen this city centre site transformed into a mixed-use, balanced community including high quality homes, cutting-edge offices, a hotel, restaurants and cafes.
The second phase of Finzels Reach includes Millwrights Place, a 231-home build-to-rent scheme, Coopers Court, which will consist of 66 affordable homes, as well as a landmark, sustainable 116,000 sq ft office building, named Halo, two thirds of which are already pre-let to legal firm Osborne Clarke.