The Subplot | Nikal, inflation worries
25 May 2021, 09:00Comments (0)
Welcome to
Place North West.
THIS WEEK
Reboot for Nikal: Manchester-based developer with schemes in Blackpool and Altrincham is radically reshaped by its new boss
Ride the tiger: inflation is rising steadily, particularly in the construction sector. The North West property industry is waking up to the risks
CONTROL ALT DELETE
Nikal resets at Altair
Loo roll millionaire Alan Murphy has tightened his control over developer Nikal, and backed new boss Richard Fee’s asset sales and slimmed team. What does it mean for the firm’s Altrincham and Blackpool schemes?
Nick Payne, who co-founded Nikal with Alan Murphy in 2003, stepped down earlier this year. The departure of the developer’s chief player left four big schemes in the balance. The local stars are in Blackpool, where a £300m regeneration of the Central Station site is just beginning, and Altrincham’s Altair project, now well into its second decade of slow-moving disappointment. Two monster schemes in Birmingham also feature.