First CFO for FreshStart Living as float beckons

by Calum Fuller

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14 Mar 2012

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A FIRST CFO has been appointed at affordable housing provider FreshStart Living, as it prepares for flotation this year.

Oliver Lightowlers joins from outsourced support services firm Spice plc, which he helped float on AIM in 2008.

He is a fellow of the Chartered Institute of Accountants having begun his career and qualified with Coopers & Lybrand in 1998.

As group finance director of Spice, Lightowlers oversaw significant growth in revenues and operating profits over the period between 2002 and 2011, from £44m and £1m to £305m and £30m respectively.

Founded in 2009, FreshStart renovates buildings before selling them on to investor landlords for use as affordable housing for tenants. It has residential and student accommodation arrangements in Manchester, Liverpool, Salford, Stockport, Nottingham, Bradford and Greenock, Scotland.

Currently, FreshStart is on course to sell approximately 2,000 units during its 2012 financial year and has amassed a £60m gross development value (GDV) base in the north of England, the Midlands and Scotland.

Freshstart's newly-appointed chief executive, Charlie Cunningham said: "I am pleased that Oliver has joined FreshStart as its first chief financial officer. He has a strong and impressive history and brings significant experience of financial management and leadership. Oliver's experience and insight will assist me in driving forward the performance of the business."

Cunningham joined in preparation for the firm's flotation on AIM later this year.

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