British Land boss stepping down to join warehouse developer

Property giant British Land has said boss Simon Carter is set to leave after more than five years in the role.

Mr Carter plans to step down as chief executive to head up warehouse developer P3 Logistics Parks.

He has a 12-month notice period and British Land said it will now kick off a “full process” to hire his successor.

British Land 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 initially joined British Land in 2004 before leaving in 2015 to become chief financial officer at Quintain Estates and Development and, later, Logicor.

He then returned to British Land as chief financial officer in 2018 before being appointed to the helm in 2020.

Mr 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 said 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 dozens of retail parks and shopping centres across the UK, including West One off Oxford Street, Whiteley in Hampshire and the Glasgow Fort, while its portfolio also includes campuses and urban logistics sites in London.