Imry Merchant Developers plc (“Imry”) was a UK commercial real estate, trading and development group set up by Martin Myers in 1983. Manish Chande was appointed Finance Director of Imry in 1985.
Imry’s initial strategy of trading properties generated profits enabling the purchase of strategic sites for large developments, both in London and the UK regions. Well known transactions include the conversion of the St. George’s Hospital site, which became the Lanesborough Hotel at Hyde Park Corner, London, and the development of West Quay Shopping Centre in Southampton, now recognised as a pre-eminent retail destination in the South of England.
By 1989, Imry had gross property assets of £377m and was sold to a third party. Asked by the new owners to remain as the executive management team and complete the major developments, Myers remained as Chief Executive during 12 years of operation from 1983 to 1995. He then became Executive Deputy Chairman until Imry was wound down in 1998 with the disposal of all remaining assets. Manish Chande continued as Finance Director until 1995 and was then appointed Chief Executive from 1995 until 1998.
This company established Martin Myers’ and Manish Chande’s reputation as prominent players with the UK real estate industry. In particular, Imry demonstrated the pair’s unique combination of entrepreneurial vision and commercial discipline, laying the foundations for further successful investments and ultimately the formation of Mountgrange.
£3.4bn of contracts set up to asset manage properties on behalf of governmental and institutional clients.
Three headquarters office buildings developed by Mountgrange and fully let to Legal and General during the construction phase.