Knight Frank exodus signals Midlands development boom ahead

The establishment of Ashlawn Chase by former Knight Frank directors Will Jordan and Charlie Steele represents more than a simple career transition—it signals growing investor confidence in the Midlands residential development market and reflects the increasing specialisation required to navigate England's most rapidly evolving regional property landscape. Their departure from one of the UK's premier property consultancies to focus exclusively on Midlands opportunities underscores the substantial profit margins available to developers who understand local market dynamics, particularly as the region benefits from sustained infrastructure investment and corporate relocations.

The timing of this venture proves particularly astute given the Midlands' emergence as the UK's most compelling development proposition outside London's orbit. Birmingham's residential values have surged 23% over the past three years, while Coventry and Warwick have recorded gains exceeding 18%, driven by HS2 connectivity improvements and the region's growing appeal to London-priced-out buyers. The duo's combined four decades of regional expertise positions them to capitalise on development opportunities that larger national consultancies often overlook, particularly in the £200,000-£400,000 residential segment where demand consistently outstrips supply across Warwickshire, Staffordshire, and the West Midlands conurbation.

This consultancy launch coincides with a critical juncture for Midlands residential development, as planning constraints in traditional southern hotspots force developers to seek opportunities in previously overlooked markets. Local authorities across the region have streamlined planning processes to attract investment, with Warwick District Council approving 78% of residential applications in 2024 compared to just 61% three years earlier. The strategic location of their Henley-in-Arden base provides direct access to both Birmingham's commercial centre and the affluent Warwickshire commuter belt, where average residential values now exceed £380,000 and development land trades at premiums approaching £1.2 million per acre.

For institutional investors and regional developers, this market shift represents a fundamental recalibration of risk and reward dynamics across England's property markets. The Midlands now offers development margins typically 15-20% higher than equivalent projects in the South East, while benefiting from construction costs approximately 12% below London levels and land acquisition costs that remain 30-40% more attractive than Surrey or Kent alternatives. Jordan and Steele's expertise will prove particularly valuable in identifying brownfield regeneration opportunities, where government incentives and reduced Section 106 obligations create additional profit margins for sophisticated developers.

The regional focus also reflects broader structural changes in UK property investment patterns, as institutional capital increasingly targets markets with stronger yield prospects and lower entry costs. Manchester has demonstrated this trajectory over the past decade, with focused local expertise driving development profits that consistently exceeded London returns between 2018 and 2023. The Midlands trajectory suggests similar opportunities, particularly given the region's exposure to advanced manufacturing, automotive, and logistics sectors that continue expanding despite broader economic uncertainties.

Looking ahead twelve months, the establishment of specialist regional consultancies like Ashlawn Chase will accelerate development activity across secondary Midlands markets, creating opportunities for both large-scale residential projects and smaller infill developments that national consultancies typically ignore. The combination of local planning expertise, established contractor relationships, and deep understanding of buyer preferences will enable faster project delivery and higher profit margins, particularly in the affordable luxury segment where regional developers can compete effectively against volume housebuilders.

The Knight Frank departures ultimately signal a maturing regional property market where specialist knowledge commands premium valuations and where development opportunities increasingly justify dedicated professional resources. This trend will intensify competition for prime development sites while creating enhanced returns for investors who engage experienced local consultants capable of navigating complex planning environments and identifying emerging market opportunities before they attract widespread attention.