The FTSE 100 real estate investment trust announces succession planning
British Land’s Teesside Park (Image: Reach plc)
Property titan British Land has announced that its CEO, Simon Carter, is set to depart after more than five years in the role. Mr Carter will step down at to take up the reins at warehouse developer P3 Logistics Parks.
With a 12-month notice period in place, British Land said it would now start a “full process” to recruit a replacement. British Land’s chairman, William Rucker, said: “During his 18 years here across two stints he has achieved a huge amount, and as chief executive has positioned the business for future success with a very strong management team and an exceptional London office campus and retail park platform.”
Mr Carter first joined British Land in 2004 before moving on in 2015 to serve as CFO at Quintain Estates and Development and subsequently, Logicor. He made a return to British Land as CFO in 2018 and was promoted to the top spot in 2020.
Reflecting on his tenure, Carter said: “British Land has been a huge part of my professional life, and it has been a privilege to work for such a fantastic business.”
He noted that the “contrarian calls we made post-pandemic have positioned British Land for long-term success”.
“There is never a perfect time to move on, but I will be leaving the business with market-leading positions in London campuses and retail parks – both of which are benefiting from strong rental growth in supply-constrained markets,” he added.
British Land owns retail parks and shopping centres across the UK, such as West One just off Oxford Street, Crownpoint in Greater Manchester, Teesside Park, Southgate in Bath, and the Glasgow Fort. Its portfolio also includes campuses and urban logistics sites in London. P3’s UK assets include properties in Crick, Kettering and South Normanton in Derbyshire.
