Ex-Targetfollow directors leave to form new venture

Two directors at Norwich-based property developer Targetfollow have left the company to set up a new venture.

Ian Fox, former joint managing director, and ex-development director Julian Wells have established FW Properties after resigning from Targetfollow on March 1.

The pair, who have 45 years' property experience between them, will be working with investment partners to acquire and asset-manage commercial and residential property throughout the UK.

While the two firms will in effect be competitors, the launch of FW Properties is not seen as a direct challenge to Targetfollow, with the property market offering plenty of opportunities for both firms, Mr Fox said.

A statement from Mr Fox and Mr Wells said their 'complementary skills, contacts and experience' offered a 'great foundation fo the venture', adding: 'It has been a long term vision for both of us to build our own property business and we feel now is the right time to allow us to maximise the opportunities that are coming forward.'

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Mr Fox was former director of estate agency chain Chesterton before joining Targetfollow in 2000, while Mr Wells was at European real estate firm Hammerson for 15 years before joining the Norwich business five years ago.

A spokesman for Targetfollow said the firm's plans were unchanged by the resignations.

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