SEGRO’s Read to retire
SEGRO’s group finance director, Justin Read, is to retire. Read joined the firm in 2011 from Speedy Hire where he was also group finance director. Prior to this he worked for building materials company Hanson in a variety of positions. SEGRO has begun a search for his replacement.
PHP issue raises £150m
Primary Health Properties has exceeded its fundraising target in its latest equity issue. The business raised £150m, some £30m more than expected, through the sale of shares at £1 per share. The business will use the funds to expand its portfolio across the UK and Ireland.
M7 appoints finance head
M7 Real Estate has appointed a new chief financial officer. David Simmonds joins from APN Property Group, where he was the chief financial officer for subsidiary Industria REIT. He had previously been the chief financial officer for APN’s European operations and finance director at the Goodman Group.
Sweet results for Lord Sugar
Lord Sugar’s Amshold group reported an increase in net profit of 26% to £133m for the 12-month period to the end of June 2015, according to recently filed accounts at Companies House. The property side of the business turned in rental income of £15.7m, a rise of 20.2%. Amshold’s net asset value came in at £627m. The five directors took home a total remuneration of just £1.2m.
