HSBC appoints Phythian
David Phythian has been appointed head of corporate real estate for the UK at HSBC. He takes over from Andy Armstrong, who will become global co-head of real estate with Richard DeZego.
SIPS co-launches £125m fund
First Property Group has teamed up with the Shipbuilding Industries Pension Scheme to create a £125m real estate fund. SIPS has committed a minimum of £125m to the new fund for an initial term of 10 years. The property fund management group will work with the pension fund – one of its existing clients – to target a net total return of 7% pa.
Quintain gets Carter
British Land’s head of strategy Simon Carter is joining Quintain Estates & Development as its new finance director. Carter, who has been at BL for a decade, joins the rival developer in May.
NAV jump for Safestore
Safestore’s net asset value per share improved by 3.6% to £2.18 in the year ending 31 October 2014, up from £2.10 a year ago. Like-for-like revenue at the self-storage group was up by 4.4%. The group’s loan-to-value ratio dropped to 37%.
Shepherd joins McKay board
Former Deloitte Real Estate boss and Drivers Jonas managing partner Nick Shepherd has joined McKay Securities as a non-executive member of its board. Chairman David Thomas said Shepherd’s experience would be “of considerable benefit” to the group’s growth strategy.
