Prime Highlights:
- Mac Mic Strategic Land has partnered with Cerberus Capital Management in a joint venture to boost growth and expand housing projects.
- The partnership will help accelerate land development and support the UK’s housing priorities.
Key Facts:
- Cerberus has acquired a majority stake in Mac Mic Strategic Land, following advice from Alvarez and Marsal Corporate Finance and Savills Capital Advisors.
- The UK Government aims to deliver 1.5 million new homes, and the joint venture aligns with legislation to speed up planning and infrastructure decisions.
Key Background:
Mac Mic Strategic Land has teamed up with Cerberus Capital Management, a global investment firm, to grow the company and help provide more homes in the UK.
Under the agreement, Cerberus has taken a majority stake in Mac Mic Strategic Land, following advice from Alvarez and Marsal Corporate Finance and Savills Capital Advisors. The partnership brings substantial investment and enhanced capacity to execute projects, explore new opportunities, and expand into new regions, while maintaining the values that have defined the business since its founding in 2009 by Mactaggart & Mickel.
Founded in 1992, Cerberus manages approximately $65 billion in assets across credit, private equity, and real estate strategies. Cerberus’ long-term, practical approach fits well with Mac Mic’s goal of developing land responsibly and working closely with local communities.
Andrew Mickel, senior director at Mac Mic Strategic Land, said the joint venture comes at an important time, with the UK Government’s housing plans since July 2024, including a promise to build 1.5 million new homes and new rules to speed up planning decisions. In Scotland, the adoption of the National Planning Framework 4 and a declared housing emergency present fresh opportunities for land promotion.
“This investment offers an exciting new chapter, a huge vote of confidence in what we do,” said Mickel. “It enables us to scale up, accelerate, and deliver more outcomes that matter, not just more sites.” He emphasized the company’s commitment to promoting land with integrity and care, adding that the partnership with Cerberus strengthens their ability to act quickly and support landowners and partners more effectively.
Cerberus expressed confidence in Mac Mic’s track record of delivering high-quality homes and sustainable communities, while Savills Capital Advisors noted the partnership unlocks immense potential to address the UK’s urgent housing needs.
Mactaggart & Mickel retains a shareholding, with Andrew Mickel continuing as senior director and Ross Mickel as director. David Gaffney of Ambassador Group, Cerberus’s UK asset manager, will serve as chairman and CEO, supported by Ambassador’s portfolio management team.
