The deal will see joint managing directors Dan Gallagher and Matt Burgin continue to lead the firm, while Dominic Stokes, David Brown and Jon Andrews step down from their roles.
Stoford was founded by Stokes in 1996 to focus on occupier-led, pre-let commercial property developments.
The company has grown significantly since then and has completed commercial developments totalling more than 13 million sq ft with a value of over £1bn throughout the UK.
Stokes said: “It has been an amazing journey and I’m extremely proud of everything that Stoford has achieved in the past 20 years. I’m confident that Dan, Matt and the team will drive the business forward to even greater heights.
“The company will continue to be led by Matt and Dan as joint managing directors alongside shareholders Tony Nash, Gerard Ludlow, Julie Craig and Alex Morgan. Angus Huntley, who has recently joined from Savills, will assist in developing the business.”
Stokes is retiring from the firm to concentrate on his other business ventures. Jon Andrews will remain as a non-executive director. David Brown will continue to work with Stoford as a consultant, supporting the development team.