Argent has announced a management re-organisation.   

Argent directors Gary Taylor and Stephen Tillman have reached a mutual agreement with the remaining directors to set up their own development business, which will work alongside Argent on certain projects.

Tillman and Taylor will take forward Argent's existing schemes at Paradise Circus in Birmingham and Ffos-y-Fran in Merthyr Tydfil, South Wales, fully supported by Argent which will retain a part ownership in both schemes. They have secured options to fully acquire Argent's interest in Paradise Circus and also on assets in Argent's residential land business which was set up by Stephen Tillman and colleague Robert Bolton.

Argent will focus on taking forward its eight million sq ft prestigious King's Cross scheme in central London and associated projects, together with delivering One St Peter's Square in Manchester, a Glenn Howells designed 273,000 sq ft building which could be on site by the end of the year. Argent also retains ownership of the award winning 107,000 sq ft Eleven Brindleyplace in Birmingham. Going forward, the marketing and management of Eleven Brindleyplace will be led by Argent's Senior Projects Director, James Heather.

On making the announcement, Argent Joint Chief Executives Roger Madelin and David Partridge said:

"We believe that this represents a natural evolution for Argent, following on from the momentum that has built up at King's Cross and the current economic climate.  With the recent sale of Brindleyplace and level of investment required by the team to deliver the multi-billion pound King's Cross scheme, we have arrived at a point in the history of Argent where it makes sense to change how we take our current and future schemes forward.  Steve and Gary are best placed to take forward our longer term schemes in Birmingham and in Wales with our support, while Argent will concentrate on completing Eleven Brindleyplace and on London, the South East, Manchester and other regional centres."

"As one of the UK's largest and most important regeneration schemes, King's Cross provides Argent with a once in a lifetime opportunity to create a new part of London.  Together with our partners, we are focussing on an exciting phase of the scheme which will see the first occupiers start to move in and new streets and squares begin to be revealed. 

"Gary and Steve have played a major role in Argent over 17 years. They have been a tremendous asset to Argent and are the right team to successfully build upon the foundations already in place to deliver Paradise Circus and Ffos-y-fran. We are supporting them in their new venture and wish them every success in the future."  

Taylor and Tillman have been Board Directors of Argent for the past ten years and joined the company in 1994. Taylor has led the Brindleyplace scheme in Birmingham since 1998 and has been heavily involved in delivering the Manchester projects over the last three years, while Tillman has been responsible for a variety of Argent projects including Argent's first two City of London office buildings, promoting the London International Freight Exchange, and Ffos-y-Fran, a complex land reclamation scheme in South Wales. 

Establishing their own development company presents an exciting new opportunity for Taylor and Tillman who have known each other for over 20 years, having both started their careers at Arup in Birmingham in 1988. 

Gary Taylor said: "During our 17 years at Argent we have worked alongside some of the most talented and creative people in property on some of the best schemes in the UK.  We now want to build upon that depth and variety of expertise by identifying and pursuing new development opportunities.  Steve and I have worked together for many years and whilst having different but complementary skills, we have the same vision for creating something new."  

"I have spent most of my working life in Birmingham and am fully committed to concentrating on bringing forward Paradise Circus at this critical point in time. The new Enterprise Zone will create the opportunity to maximise the potential of Paradise Circus as one of the most strategically important development sites in the UK. Over the next 18 months, we will be making a significant commitment to creating the opportunity for comprehensive re-development within an Enterprise Zone framework. We look forward to continuing to work with Birmingham City Council and the project team in moving this development forward."   

Stephen Tillman summed up: "Gary and I are fully committed to building on the momentum already underway at Paradise Circus. We feel a personal responsibility to ensure that we put the effort into maximising the chance of creating something really special.  

"We have built strong relationships in Birmingham, South Wales and London and believe that we are best placed to maximise these opportunities by continuing to work with the project teams and local contacts to finish what we have started. However, we are also looking to build a team to take forward other new opportunities in the UK."

Robert Bolton who has been working alongside Tillman and Taylor for the past 18 months developing a residential land business within Argent will also be joining the team. The new venture will be seeded with three major residential land opportunities and further opportunities in the pipeline. 

Tillman and Taylor will continue to have a base within Argent's Birmingham and London offices for the immediate future and are actively seeking funding partners to help realise their aspirations for their future projects.