Former Wilson Bowden director heads new company to continue with projects

Permalink: Former Wilson Bowden director heads new company to continue with projects
by Lin Freestone

A former director of Wilson Bowden Developments launched his own property and development management business at the beginning of July this year.

Jim Fitzsimons, who headed the Glasgow operation of Wilson Bowden, will be joined by his former five-strong team at his new company, Capella Developments. He has agreed with Barratt, Wilson Bowden’s parent company, to acquire the proposed £70m Atlantic Square development in Glasgow’s International Financial Services District.

Atlantic Square is an office, retail and residential scheme which is part of the Atlantic Quay development in Glasgow’s city centre. The site has been acquired by Capella Developments with financial backing from Taylor Clark Ltd. When completed it will comprise two office buildings of 120,655 sq ft and 40,000 sq ft, together with 62 residential apartments and ground-floor retail and leisure space.

The Atlantic Quay area, of which Atlantic Square will be a significant part, has been developed by Jim Fitzsimmons and his team to create a new urban quarter within Glasgow’s city centre.

The agreement he has reached with Barratt/Wilson Bowden to acquire the Atlantic Square site means that he can continue the project with another major development.

The Capella team will also continue to drive forward the Ravenscraig project in Lanarkshire, where Wilson Bowden is the lead developer of the former British Steel Ravenscraig Steelworks, covering over 1,100 acres.

Jim Fitzsimons has secured an agreement with Ravenscraig Ltd, the joint venture behind the development consisting of Wilson Bowden Ltd, Scottish Enterprise and Corus to continue his work of ten years’ standing to realise the vision of a thriving new community for Ravenscraig.

This will ensure continuity and ongoing progress at Ravenscraig where work is well under way on the £200m first phase of the redevelopment of the site with a £30m regional sports facility, a £70m campus for Motherwell College and 850 new houses.

In addition to these two prestigious Scottish development projects, Capella Developments will be seeking additional opportunities to add to its portfolio.