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26: Modus Properties

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In 1991, Brendan Flood ditched his high-flying job with a big house-builder, remortgaged his house to the tune of £20,000 and launched Modus Ventures. Now the Manchester-based property developer turns over a very comfortable £44m, with profits of £7.2m. The company has since opened offices in London, Birmingham and Lincoln and has a portfolio of properties worth in excess of £2.5bn. Tenants include retail giants New Look, Debenhams and M&S. Modus focuses on developing retail, leisure and residential schemes in “less desirable” areas. Indeed, it describes itself as a “specialist in urban regeneration” with schemes in Wigan, Blackpool, Wakefield, Newport, Swindon, Crewe and Rhyl.

Over the past four years, the company has seen 118 per cent compound growth, up from a turnover of £4.3m. These days, managing director Flood juggles the day-to-day running of the business with his love for football (Burnley), listening to Coldplay and eating meat pies with mushy peas.

www.modusproperties.co.uk

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