Argent has formed a subsidiary to work on its portfolio beyond the multi-billion pound development at King's Cross.

Argent (UK Developments) Ltd will take forward the delivery of projects across the UK including Brindleyplace in Birmingham; commercial and residential schemes underway in Manchester such as the 675,000 sq ft at Piccadilly Place; and a joint venture with the Miller Group reclaiming a large swathe of land near Merthyr Tydfil.

The new subsidiary's pipeline will see Argent part own, manage or develop more than 10m sq ft of development, with an end value of over £3.5bn by 2010.

The company will be headed by managing directors Gary Taylor and Stephen Tillman.

Both are currently executive directors of Argent. Taylor will continue to be based in Birmingham and Tillman in London.

They said the appointments confirmed Argent's commitment to developing in Birmingham, Manchester and across the UK.

'Both of us want to grow this part of the Argent Group with new big meaningful projects,' added Taylor.

Taylor explained that Argent had grown from 30 to 60 staff in the last 18 months and that it would grow to 100 within a couple of years due to the development at Kings Cross.

The announcement follows the appointment of David Partridge and Roger Madelin as joint chief executives of Argent Group in 2006. Partridge and Madelin will continue their roles but also oversee another new subsidiary called Argent (King's Cross) Ltd, which will focus on development at King's Cross.

Madelin added: 'King’s Cross is currently one of the UK’s largest and most important regeneration schemes but just one of a number of key projects Argent is involved in across the country. While Steve and Gary will still have a strategic role to play for the company, these appointments will allow them to really focus on Argent’s work elsewhere in the capital and in the regions.'

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