Cubex Land, the Bristol property development firm behind the city’s Finzels Reach regeneration project, has promoted Peter Walford to the position of managing director as it seeks further opportunities across the region.
Peter, pictured, who steps up from his current role as executive director, co-founded Cubex 16 years ago with Gavin Bridge, who recently left to start his own property development business.
Peter has been instrumental in Cubex’s success since its launch and will continue to lead the company as the final phases of Finzels Reach are completed over the next year or so.
Cubex, which is backed by UK and Canadian investment management company Fiera Real Estate, described him as having a wealth of experience and an impressive track record in commercial property development, having been involved in projects worth around £500m.
Among these are the forward funding by Tesco Pension Fund of the 116,000 sq ft Halo office development, pictured below left, and the adjacent two residential blocks by London-based build-to-rent specialists Grainger at a combined price of around £145m.
Both were concluded last year as part of Finzels Reach’s second phase and were not only among Bristol’s largest-ever property deals but were also two of the largest UK regional deals of 2020.
Despite the unprecedented market conditions caused by the coronavirus pandemic, Cubex remains very active and is seeking further opportunities this year with a substantial war chest available to invest following its recent property deals and its access to funding through Fiera Real Estate.
Having become involved in the 4.7-acre Finzels Reach regeneration scheme, pictured below, on the site of the former Courage Brewery, in 2014 after its original developer HDG Mansur went into receivership, Cubex is now likely to re-focus on its original strategy of developing smaller, high-quality commercial and residential schemes across the South West, including expanding into the industrial and logistics sector. 
Peter Walford, who prior to co-founding Cubex had led Anglican Water Group’s property division, said: “I am extremely proud of the high-profile and hugely successful developments we have delivered across the region and look forward to driving the business forward in 2021 as we embark on a new chapter in its evolution.
“Delivery of the final phases at Finzels Reach will be a rewarding time for Cubex and we have ambition and funds available to secure many more new development opportunities.”
Cubex Land chairman Ray Palmer, who is also chairman of Fiera Real Estate UK, added: “Peter was one of the founding director shareholders of Cubex and in the many years I have known him he has always impressed me with his strong, calm leadership.
“He now leads a rejuvenated and enlarged team that is keen to build on the many successes that they achieved last year.
“Peter’s promotion to managing director is extremely well deserved and I look forward to working with him during 2021 and beyond.”
As Bristol Business News revealed last week, Gavin Bridge’s new development firm Spatia will concentrate on major regeneration projects around the South West.
Its first scheme, which Gavin began to work on while at Cubex, is the Frome Gateway, a major mixed residential and industrial regeneration of much of the city’s St Judes area alongside the M32.
The scheme has already attracted investment from PfP Capital, the fund and asset management arm of Places for People Group.
