UK REIT British Land has restructured its development team to reflect the increasing importance of the activity for the company in the next few years.
UK REIT British Land has restructured its development team to reflect the increasing importance of the activity for the company in the next few years.
Nigel Webb, head of development, will assume responsibility for all group development and will now report directly to CEO Chris Grigg. The company has also announced the appointment of Richard Wise as head of retail development. Wise has 25 years' experience in the UK property market. He will join the company from Centros, the privately owned retail developer, where he has served as CEO since July 2007.
Development is an important part of British Land's business. Over the last 12 months the company has invested a substantial amount of capital to what is currently London's largest committed office development programme. This comprises six separate sites which will deliver 204,000 m2 of high quality space in the City and West End by 2014, including a new 65,000-m2 building for UBS at Broadgate, the 57,000-m2 Leadenhall Building in London's insurance district and the 46,000-m2 NEQ building, which will complete the Regent’s Place estate in the West End.
The retail development programme totals 214,000 m2 and comprises the 130,000-m2 shopping centre at Puerto Venecia, in Zaragoza, and a further 83,000 m2 of potential development and extension opportunities within the UK retail portfolio.
