Lincoln property developer Simons Group has, alongside its European partner Groupe IDEC, jointly invested in development company bloc.
This follows news earlier this year when Groupe IDEC purchases a minatory share in Simons.
That deal laid the ground work for this latest investment in bloc, with the Simons Developments team playing a leading role in negotiations.
“This is a tremendously exciting and positive step for our business,” said Simons Group Chairman Paul Hodgkinson.
“Simons Group has known the bloc team for several years and has been consistently impressed by its ability to deliver successful, complex deals with openness and integrity.
“bloc’s partnership model for multi-site Joint Ventures has increasing traction and fits Simons’ own approach to collaborative working within our national construction and development teams.”