MACTAGGART & Mickel Group has announced the appointment of Paul McAninch as its new CEO, replacing Ed Monaghan who retires after a career at the company spanning more than 40 years.
Paul McAninch has spent the past seven years as group finance director. He takes on the role as the group looks to invest ‘significantly’ in its UK-wide portfolios of land and private rental property.
The group revealed that the new investment plan will include growing its English strategic land revenue by £33 million over the next five years. This year, it aims to invest £8 million in new energy efficient private rented homes, as part of a programme to increase the value of its portfolio from £71 million to more than £100 million by 2027.
The strategy follows the sale earlier this year of the group’s Scottish housebuilding and timber systems division to Springfield Properties.
Paul McAninch said, “It is an honour and hugely exciting time to be leading a well-respected and successful business with its eyes firmly on the future. Since Mactaggart & Mickel was established in 1925, we have adapted as circumstances around us have changed. We remain strongly focused on delivering living spaces and communities where people can enjoy the best quality of life.
“However, we have seen how the property market is changing and our strong capitalised base and liquidity gives us the resources to invest in new opportunities. We are engaging in new partnerships to deliver high-quality homes for sale or rent in desirable locations across the UK.”
Paul has worked for the group for around 20 years. He retains his roles as a board member of Shawfair LLP, non-executive director of prop-tech business iOPT, and as an advisory committee member of the YFM Equity Partners Buy Out Fund I.
Mactaggart and Mickel Group director Andrew Mickel said, “Working with directors, Paul has played an integral role in setting the Group on a path to future growth and success. We are delighted to confirm his appointment and are encouraged by the strong platform the group has, to invest and continue to grow. We look forward to supporting him and the team as they deliver the Group’s growth ambitions.”