Three senior members of Land Securities’ London portfolio team are leaving the company.
Head of investment Tom Elliott, West End portfolio director Ben Ridgwell and head of development management Oliver Gardiner are joining other firms.
Elliott leaves LandSec after more than 11 years, first overseeing the City portfolio and then investment for all of London. He is joining McKay Securities as head of property and will oversee the investment, asset management and development of the McKay portfolio in London and the South East.
Elliott succeeds Steven Mew, who is joining Great Portland Estates.
Ridgwell will become head of asset management and property management at Derwent London after six years at LandSec. He said the move was not driven by a change in strategy at LandSec, adding that he had been offered a “fantastic opportunity” at Derwent.
Gardiner was unavailable for comment on his exit from the firm.
It is understood that LandSec intends to replace those leaving.
LandSec has 1m sq ft of development in London, of which 62% is prelet, with another 1.2m sq ft in the pipeline, including 21 Moorfields, EC2, Nova East, SW1, 1 Sherwood Street, W1, and Southwark Street, SE1.
At the company’s AGM this week, which proposed a 9.9% dividend increase, LandSec chief executive Rob Noel said: “We expect business uncertainty to persist until there is more clarity on both the timing and terms of the UK’s exit from the EU. This process may take some time.
“Demand from occupiers is likely to be subdued until confidence returns and this may have an impact on rental values.”
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