Shareholders of Newcastle-based Develop North plc have unanimously approved its new investment objective, updated investment policy and revised articles of association, marking the next phase in the company’s evolution as a regional investment platform.

“The approval confirms the proposals previously outlined by the North East-based, London Stock Exchange-listed investment company and formally establishes a diversified, three-pillar deployment strategy focused on residential real estate, commercial real estate and real estate lending,” said the firm.

“The updated policy enables Develop North to broaden its activity beyond a single-asset lending model and operate as a multi-real-estate investment platform, targeting opportunities that support regeneration, job creation and economic growth across the North East of England.”

Under the new framework, the company will invest across residential real estate, commercial real estate and real estate lending.

“The strategy is designed to provide diversification across sectors while maintaining the company’s place-based investment approach, combining locally informed capital with experienced regional asset managers and advisers,” added Develop North.

Since its launch in 2017, Develop North has deployed around £90 million across more than 40 investments, supporting over 12,000 jobs and projects with a combined gross development value exceeding £280 million.

The newly approved investment policy positions the company to expand its role as a long-term funding partner for property-led regeneration and economic development throughout the North East.