Three senior figures have left Leeds-based property developer St James Securities following a dispute with the company’s majority shareholders.
Transfer of interests
Managing director Ian Barraclough, Leeds-based director Robert Firth and London-based director Freddie Coupe, have left following unsuccessful negotiations over the ‘transfer of interests’ in two joint ventures.
St James has also announced it will now be concentrating on developing out its existing portfolio with its current portfolio while Barraclough, Firth and Coupe – who had focussed on new business - will leave to start a new venture.
‘Following the decision to concentrate on the existing stock it is inevitable that those driving new business will wish to pursue other opportunities,’ said Barraclough.
St James chairman Roger Quarmby said it was ‘disappointing’ that the transfer discussions had not been concluded but described the directors’ departure as ‘amicable.’
Barraclough will remain at the office during January and February while Firth and Coupe will be contactable on their mobile phones via the company switchboard.