Two homegrown entrepreneurs are poised to pocket millions of pounds after selling the booming business they founded in a farm building.

It’s been announced today that Carlisle-based land and property firm, North Associates, has been sold in a deal worth up to £5m.

The takeover by global consultancy company WYG marks the huge success of the firm, which is involved in a number of major developments in north Cumbria, including a new shopping complex in Carlisle city centre.

It’s a move that the new owners hope will give them a foothold in the hugely lucrative nuclear industry, the influence of which is set to grow massively with plans for a new £10bn power plant near Sellafield.

Economic analysts will undoubtedly see the deal as another sign that the Carlisle area will cash in on ground breaking developments in the west of the county.


Andy Ross Andy Ross and Mark Walker, the businessmen who founded North Associates and have steered it to rapid success, are said to be delighted with the takeover. They will hope to build on that success as part of the new look management team.

WYG, which operates in more than 50 locations across the UK, Europe, Africa, Asia and the Middle East, believe their purchase will open huge opportunities.

Paul Hamer, chief executive officer of WYG, said: “We have collaborated successfully with [North Associates] in the past on several projects and are confident that their experience in residential, energy and infrastructure markets will significantly strengthen our property asset management team.

“The acquisition will expand our offering across Cumbria and the north, in particular along Britain’s Energy Coast.”

North Associates provides strategic property advice to a variety of clients from high-net-worth individuals and local authorities to large private-sector organisations. Its aim is to ensure that clients maximise the value of their property assets, which it has done successfully, delivering £60m in added value to property owned by clients in its first three years.

Since it was founded in a farm building near Wigton in 2010, the business has expanded considerably and was awarded the Service Business of the Year award at this year’s CN Business Awards. It acquired planning consultancy Taylor & Hardy in 2012, moved to a larger head office in the former Gallo Rosso restaurant in Kingstown, Carlisle, last year and has opened two offices in Tyne & Wear and Lancashire. Annual turnover has grown from £800,000 to £3m, and is set to reach £4m in year four and £5m in year five. Staff have grown from four to 18.

The £5m purchase price will be paid in three stages, the first £2.3m to be paid on completion, with a further £0.5m due on the first anniversary of completion. The remaining £2.2m is dependent upon the recovery of contingent fees over the three years following completion.