Chief executive of Manchester-based Ask Developments, Ken Knott has left the firm and will be replaced in the role by former development director John Hughes.
The developer said that Mr Knott’s exit from the business “is totally amicable” and said he would remain as a shareholder.
The firm said: “With the company having now established its flagship project at First Street as one of the city centre’s most important transformational new places in the next few years, now is the right moment for him to move on and hand over the future direction to the experienced John Hughes.”
Mr Hughes will continue to lead the Ask team on the First Street project, with client Manchester City Council, which has a development value of £500m.
The Manchester gateway site is the location of the new £25m HOME cultural centre for the council. Construction activity is under way and the venue is due to open in spring 2015.
Other elements of the scheme include a 208-bed 4-star Melia Innside hotel, 30,000 sq ft of retail, leisure, and restaurant space in 8-10 units, 279 luxury VITA apartments aimed at international students and a 700 space multi-storey car park managed by Q-Park.
Mr Hughes was responsible for securing Ask’s Greengate Embankment joint venture with Network Rail and Salford City Council, where construction is scheduled to commence in early 2014.
The company’s portfolio includes the Manchester business park Central Park, the acclaimed leisure scheme Leopold Square in Sheffield, the Eden Square shopping centre in Urmston and Knowsley Place in Bury.
Mr Hughes said: “Ken leaves with our best wishes, and I am sure we will work together in the future.
“It is an exciting opportunity for me to drive the company forward through its next phase of development. We have a highly capable team and I am looking forward to leading Ask in this rapidly changing market-place. Our projects are very well positioned to take advantage of the positive occupier and investor sentiment toward the Manchester city region.”