Scarborough Group reaches its fiftieth anniversary in 2026. In an industry shaped by economic cycles, longevity on that scale reflects an ability to adapt as conditions change, rather than any single moment of success.
Early judgment
1976 marked the point at which Kevin McCabe stepped into business ownership, quickly laying the foundations of what would become Scarborough Group. By then, he had already spent more than a decade in the construction and property industries, beginning his career as a quantity surveyor in Sheffield before moving to Scotland in the early 1970’s and joining Teesland Development Company, where he became a Director within a short period of time.
He chose to ‘go it alone’ just as the optimism of the early seventies was fading. Inflation was rising, interest rates were climbing, credit was tightening and confidence had become fragile. Projects that had appeared viable only months earlier were coming under pressure, often before completion.
That context shaped the business from the outset. Scarborough Group did not grow up in a market where fundamentals could be learned gradually or mistakes absorbed quietly. Early decisions mattered, and their consequences were often felt quickly. The discipline required in those years – around cost, structure and judgement – became embedded in how development was approached.
Building through cycles
As the business evolved through the late 1970’s and 1980’s, growth was accompanied by McCabe’s willingness to work closely with financiers and institutional partners, adjusting structures where appropriate. A strong relationship was built with the Bank of Scotland, which saw McCabe work with them on the reorganisation of two previously listed companies, restructuring management and divisions before returning them to the market.
As the workload expanded, McCabe increased his involvement with Teesland Development Company, eventually leading it through a successful stock market listing. In a similar vein, the housebuilder Fairbriar Homes, then in difficulty, was acquired, reorganised and expanded ahead of its own return to the market.
These were not transactional arrangements, but partnerships carried through multiple market cycles and changing conditions.
Expansion across the UK and internationally followed. Teesland developed into a substantial fund and asset management business, with assets under management exceeding £5 billion at its peak. The acquisition of Property Fund Management plc added a platform of offices across ten European countries. Throughout this period, durability was never about preserving a single structure, but about maintaining coherence and control as conditions evolved.
Staying close to decisions
Clarity around how the business was organised geographically was central to that approach. Scarborough Group remained close to the places where it was working and developing, making decisions with a direct understanding of local conditions rather than from a distance.
When McCabe decided to expand the Group internationally into Europe and the Far East, he chose to lead that growth directly, basing himself in the European capital, Belgium. From there, the business developed an on-the-ground presence across markets including the Netherlands, Germany, France, Poland, Hungary, Serbia, Denmark and Sweden, with more than ten regional offices established over time. The Group’s success across its international operations is well documented.
Operating in this way brought practical advantages. Proximity made it easier to distinguish between confidence driven by sentiment and strength grounded in fundamentals. The decision to sell the European business to Valad Property Group ahead of the 2008 global financial crisis reflected that approach. It was a deliberate exit, taken while scale and confidence were still intact and informed by close observation rather than by an assumption that conditions would persist.
Long-term perspective
Across five decades, relationships have been as important as assets. Partnerships with local authorities, advisors, funders and occupiers have been built gradually and sustained through more than one cycle. That continuity brings realism into decision-making. How a business behaves when schemes are under pressure tends to be remembered long after favourable conditions have passed, and reputation in development is earned through consistency and judgement exercised when outcomes are uncertain.
The same long-term perspective underpins Scarborough Group’s approach to regeneration. Legacy is understood as a responsibility to the communities that developments become part of, measured by whether places continue to function and support local life over time. Schemes are assessed not only on delivery, but on their ability to remain relevant as markets shift and expectations change.
Thorpe Park in Leeds reflects that approach clearly. Conceived more than three decades ago, the scheme has evolved through successive phases, transforming former agricultural land into a major business, residential, retail and leisure destination. Its longevity reflects a commitment to regeneration grounded in long-term adaptability rather than response to a single moment in the market.
Looking ahead
Today, Scarborough Group is a private business with more than 3,000 acres of land owned or controlled and over £2 billion of projects in the pipeline across the UK. It remains a family-owned business, with continuity of ownership supporting long-term decision-making. While the current cycle is defined by its pace, with decisions scrutinised earlier and margins pressured sooner, this is familiar territory. Experience across cycles has reinforced a preference for selectivity, clarity and structures designed to absorb change.
As the business marks its fiftieth year, this piece opens a wider conversation about what adapting well in property actually requires. Through its upcoming Pull, Push, Shove podcast series, Scarborough Group will explore how cycles are experienced and navigated by those who have built through them.
Fifty years on, the story is not one of avoiding change, but of being built to adapt – staying close to decisions, acting with judgement, and continuing to create places and communities designed to endure.
‘Pull, Push and Shove’.