Durkan Partnerships will link the development arm Durkan Estates with the Durkan construction division.

Former Wates and Willmott Dixon man Fraser Wells is joining the business as managing director of Durkan Estates to help push through the new initiative.

Durkan Partnerships is a delivery vehicle aimed at promoting residential development opportunities by investing with clients in joint ventures.

Daniel Durkan, Executive Chairman, said: “The economic downturn has meant that organisations like ours have to adapt our business plans; the sector in which the group operates has changed and many of our clients now look to us to provide more than simply construction solutions.

“We are ideally placed with both our development and constructor companies – with Durkan Partnerships we have created the link to enable us to offer a whole-house solution.

“The company has equity and an unleveraged land bank of circa 700 units in London , fully consented and is therefore ideally positioned to develop this business model “

Durkan Partnerships will work closely with its business development teams headed by Daren Nathan and Martin Lunn and utilise the resources of its development and construction teams.