In a significant leadership change for one of the UK's largest property companies, Simon Carter has confirmed he will step down as chief executive of British Land. His departure concludes a tenure of more than five years at the helm.
A Move to Warehouse Development
Carter is set to leave the FTSE 100 firm to take up the role of chief executive at P3 Logistics Parks, a major player in the warehouse and logistics sector. He will serve a 12-month notice period, during which British Land's board will commence a comprehensive search for his replacement.
William Rucker, Chairman of British Land, paid tribute to Carter's lengthy service. "During his 18 years here across two stints he has achieved a huge amount," Rucker stated. He highlighted that as CEO, Carter had "positioned the business for future success with a very strong management team and an exceptional London office campus and retail park platform."
A Career Deeply Rooted at British Land
Simon Carter's history with British Land is extensive. He first joined the company in 2004 before departing in 2015 for roles as chief financial officer at Quintain Estates and Development and later at Logicor.
His return to British Land came in 2018, again as CFO, before his appointment to the top job in 2020. Reflecting on his time, 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."
Leaving a Legacy of 'Contrarian' Post-Pandemic Strategy
Carter pointed to strategic decisions made after the pandemic as key to the company's current standing. "The contrarian calls we made post-pandemic have positioned British Land for long-term success," he remarked.
He acknowledged that timing a departure is always challenging but expressed confidence in the firm's trajectory. "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," Carter added.
British Land's substantial portfolio includes:
- Dozens of retail parks and shopping centres across the UK, such as West One off Oxford Street, Whiteley in Hampshire, and Glasgow Fort.
- Significant holdings in London campuses and urban logistics sites.
The company now faces the critical task of selecting a new leader to guide its next phase in a dynamic property market.
