The Langham Estate in London's West End has appointed Malcolm Pugh as CEO, coinciding with the sale of the Lotus portfolio, comprising 27 assets in the northern end of the estate.
Pugh was previously chief operating officer at the Fitzrovia Estate and joined the company in 2011 as financial controller, before taking on the position of finance director in 2012.
He has taken over from Ahsan Ellahi, who departed in 2023 after 13 years in the CEO position, following the launch of the Lotus portfolio to market.
The majority of the 27-strong collection of properties, comprised of retail and office buildings, have been acquired by Oval Real Estate. The residential asset within the portfolio has been acquired by Concord. Financial details were not disclosed.
Since joining the estate, Pugh has been instrumental to a number of property acquisitions across the UK portfolio.
In his role as CEO, he will oversee the implementation of a new corporate brand direction and business strategy, focused on strengthening its position as the chosen partner for businesses in the West End.
Central to the strategy is an investment programme of £50 mln (€58 mln) to enhance several retail, office, and leisure assets across the estate, and restore a number of the estate’s heritage buildings.
Some £20 mln is already being deployed, including the significant refurbishment of Wella’s former headquarters at 93 Mortimer Street.
Pugh will also prioritise closer collaboration between The Langham Estate and the wider neighbourhood via the West Fitzrovia BID, of which Phil Hardie, the estate’s chair, is a board member.
The new investment programme builds on a strong 12 months for The Langham Estate, which completed 50 leasing deals throughout the year including Dr. Martens’ 100th EMEA store on Oxford Street.
Said Pugh: 'The completion of the Lotus Portfolio sale and our ongoing investment programme will ensure The Langham Estate continues to evolve in line with occupiers’ needs.
'It is truly an exciting time for me to take over the reins as CEO of one of London’s great estates, not least as we bring our new corporate brand direction and updated business strategy to fruition, and work with the area’s esteemed partners to further enhance the experience for visitors and workers.
'Despite inflation, London’s West End has retained its crown as Britain’s shopping capital, with weekly footfall increases surpassing double-digits in Q4 of last year. Coupled with consistently high demand for high-quality office space, this points to a very bright outlook for the district’s future indeed. '
With properties on streets that include Oxford Street, Mortimer Street, and Great Portland Street, The Langham Estate comprises 11.3 acres (4.6 ha) across Fitzrovia.
