Former Government Minister Named Chairman of Private London Property Developer
Lord Harrington, who was previously appointed by the last Chancellor to boost foreign investment in the UK, is set to become the new chairman of Regal, a private property developer based in London. This announcement comes as Regal prepares to raise capital for its expansion plans.
Lord Harrington, known for his review published last November on attracting foreign investment, emphasized the need for a more strategic approach in this area. Prior to his political career, he successfully ran a real estate development business that included residential, commercial, and hotel properties. Lord Harrington served as MP for Watford from 2010 to 2019 and was ennobled in 2022, taking on a leading role in the government’s efforts to relocate refugees from the war in Ukraine.
Regal, which focuses on developing residential and mixed-use properties in London, currently employs approximately 160 people and has a pipeline with a gross development value of £4.5bn. “Regal’s fully integrated model and broad span across London real estate have created a growth trajectory that sets it apart from others in the sector,” stated Lord Harrington.
Jonathan Seal, the chief executive of Regal, expressed his excitement for Lord Harrington’s appointment, stating that he brings “extensive and valuable experience across a range of sectors, including deep knowledge and understanding of the global investor community”.
Lord Harrington’s new role makes him the latest former Conservative minister to transition to the private sector. Sky News previously reported that Sajid Javid, the former Chancellor and Business Secretary, had joined investment firm Centricus, while Nadhim Zahawi, another former Chancellor, is currently assembling a bid for The Daily Telegraph.
