Quartermile directors complete buyout move
Two directors of Edinburghbased property developer Quarter mile Developments have launched a new business following a management buyout ( MBO).
Chief executive Paul Curran and finance director Mike Milligan have purchased the entire share capital in Quarter mile Edinburgh Limited from a fund managed by London- based property fund manager Mo or field Group and funds managed by USbased Baupost Group for an undisclosed sum.
Quartermile Developments has been responsible for the mixed- use redevelopment of the former Edinburgh Royal Infirmary site in the capital. The company is also currently building 145 home sat its 52- acre Craighouse development in the city.
The new holding company is called Qmile Group and is headquartered in Edinburgh. All Quarter mile Developments’ 17 employees remain with the business. Qmile is looking to expand across other key cities in the UK.