Tim Heatley is not your typical property developer. As the co-founder of Capital Centric, a Manchester-based social impact development and investment company, Tim has been at the forefront of projects that prioritise community welfare and sustainable growth. With a background deeply rooted in understanding socioeconomic disparities, Tim’s approach to development might just be the blueprint for all developers who place community high on their agenda.

UKREiiF: Tim, it’s great to have you here. Can you introduce yourself and your role?

Tim Heatley: Absolutely. I’m Tim Heatley, co-founder of Capital Centric. We’re a social impact development and investment company based in Manchester. We deliver regeneration projects that have a positive and lasting impact on the communities where we work.

UKREiiF: Can you provide some examples of how your projects have impacted the local community, especially in the Greater Manchester area?

Tim Heatley: We’re massive advocates of the idea that having a strong social mission isn’t just a nice thing to do and beneficial for communities, it’s good for business too. From day one, our focus has always been on aiding economic growth. We do that by delivering regeneration that excites people and – in the roundest sense – delivers positive change in the area, whether that’s creating new homes, places to work or spaces for independent business to start and grow.

When it comes to our homes, we either sell them solely to owner occupiers – helping create a genuine community of people who want to put down roots – or we retain and rent them. It ensures the social value and change being delivered through these projects directly benefits local residents.

A big part of what we do is revitalising town centres and city districts to create new destinations where people can live and work – like with Farnworth Green near Bolton where we’re overhauling the place to create a liveable town centre or with Goods Yard at Stoke-on-Trent, a flagship project currently underway. In Manchester, we pioneered the changing face of the Piccadilly East neighbourhood with homes, hotels, workspaces and hangout places. Others have since invested and the whole area is seeing massive change and opportunities created.

UKREiiF: I see…could you delve deeper into how you’ve aided economic growth and regeneration?

Tim Heatley: Loads of ways, from something as simple as employing jobs for people at risk of homelessness on our sites, right the way up to delivering game-changing new districts in towns and cities.

A big driver of growth is creating high-quality workspaces where businesses can set up, grow and expand. So far it’s been mainly for the digital, tech and creative industries, sectors whose growth has skyrocketed in recent years. The goal is to attract new employers to new, pioneering locations – sometimes in areas that have higher unemployment or have a real lack of design-led workspaces – and in turn create high-quality, long-term jobs for local people.  We’re doing that in Wigan where we’re repurposing the former civic centre, and in Liverpool, where our plans for the Littlewoods Project film and TV campus have just gone in for planning.

Where we’ve created cool F&B spaces we’ve proactively curated communities of independent business there, rather than the big chains. Its meant new names have been able to establish and grow a following, putting their own mark on the bones of the building.

Ultimately, architecture and design choices are fundamental to good regeneration. It’s not just about aesthetics; spaces need to be both accessible to the public, as well as inspire, uplift and surprise. It’s the projects that do that well that people want to keep coming back to.

UKREiiF: Where does all this inspiration come from?

Tim Heatley: My upbringing has a lot to do with it. My parents worked in the care sector and, growing up in Salford, I experienced living in a really diverse community where many people were struggling. I believe in doing what you can, with the skills and resources you’ve got, to help others.

But Manchester has a unique spirit of collaboration, and I’ve always felt that if you’re trying to do good, the community will support you. This city has had to pull off a post-industrial reinvention, that spirit of reinvention and collaboration is deeply ingrained in its fabric and, I’d say, has been a fundamental part of its success today.

UKREiiF: Have you seen your approach being adopted elsewhere, perhaps on a national level?

Tim Heatley: I believe we were one of the first private social impact developers. We were outliers when we were banging on about social impact twinned with town and city rejuvenation through standout design. We’ve never shied away from the fact we’re a business and we need to make money, but we’ve tried at every turn to leave some kind of positive imprint and social benefit.

A lot of companies are now labelling themselves as such, so it’s flattering to have played a part in that movement and raise the bar. It’s essential to act authentically and that’s something we engrain in our team, it’s not about brand positioning, it’s about making a genuine commitment and change.

I’ve seen some promising initiatives and I hope to see more developers prioritising community and sustainability. It’s about looking beyond buildings, and thinking about what the long-term legacy of a place will be.

UKREiiF: How do you envision the future of property development, especially in the context of community-centric development?

Tim Heatley: For me, it should be rooted in community welfare. It’s not just about constructing buildings; it’s about creating spaces where people can thrive. Developers need to think long-term, considering the impact of their projects on the community and the environment. With the challenges posed by climate change and socioeconomic disparities, it’s crucial for developers to adopt a more holistic approach.

I think a future where community-centric development becomes the norm, not the exception, would be really positive.  Sometimes it’s hard to see what your legacy will be when you’re stuck in the reeds of the planning processs and inevitable construction challenges, but ultimately time will judge us on whether decisions taken when redeveloping a community has been a success. Keeping that sharp focus on the end goal and the positive impact is critical to ensuring you don’t look back on something in 20 years’ time and feel the pang of regret.

UKREiiF: Tim, thank you for sharing your insights, and for your dedication to creating a positive impact through your work.

Tim Heatley: It’s been a pleasure. See you at UKREiiF in 2024!