Gouda-based developer Multi Corporation plans to gradually hand over the management of its UK operations to Queensberry, a new venture set up by three former employees.

Queensberry will be led by Managing Director, Paul Sargent; Commercial Director, Stuart Harris; and Development Director, Jon Munce. The team will continue to asset manage all of Multi Development’s projects in the UK. 'There will be a seamless transfer of responsibilities to Queensberry,' stated Sargent. 'We have an excellent understanding and relationship with Multi’s main board and thanks to this we have created a strong platform from which to grow the business.'

Eric van Duren, Chief Investment Officer of Multi Corporation said: 'This will ensure continued focus to optimize value for Multi in its projects in Belfast and SouthGate, Bath, and potentially broaden our opportunities in the UK. Paul and his team will welcome propositions from wider sources and we expect to collaborate on interesting new projects in future.'

Multi develops large-scale mixed-use shopping centres, and inner-city regeneration projects. Headquartered in the Netherlands, the company is active in 14 European countries and has offices in Belgium, France, Portugal, Spain, Italy, Germany, the UK, Czech Republic, Poland, Switzerland, Slovakia, Ukraine and Turkey.