CBRE has appointed Phil Cann as head of investment properties in the UK with effect from 1 June.
Phil Cann (pictured) currently leads CBRE's UK retail team and will be succeeded by Rhodri Davies, the current head of the UK retail investment team.
Cann has led CBRE's 160-strong UK retail team since 2013 having succeeded Ciaran Bird in this role following his promotion to UK managing director.
Cann joined CBRE in 2005 through the acquisition of Dalgleish & Co. In recent years, he has advised on many high-profile retail investment transactions including the biggest deal in the UK in the immediate aftermath of the Brexit referendum, British Land’s £400 mln (then €470 mln) sale of the Debenhams flagship store in Oxford Street.
This was the catalyst, CBRE said, for a further £700 mln worth of London retail sales in H2 which made 2016 a record year for the Central London retail investment team.
Cann will continue to specialise in retail property investment with a particular focus on Central London. He will work closely with CBRE's EMEA and global capital markets teams and also with CBRE's EMEA capital advisors team led by Richard Dakin.
Davies joined CBRE in 2010 and has advised on many of the largest shopping centre, retail park and factory outlet investors in the UK. He and his team were involved in 9 of the 10 top retail investment deals in 2016 including three of the largest shopping centre transactions; the sale of QICs 50% interest in Intu Merry Hill for £410 mln, the purchase of Intu Bromley for £236 mln and the purchase of Grand Central in Birmingham for £345 mln.
CBRE said that the appointment of a new head of UK retail investment would be announced in the coming weeks.
