SLI/AAM chiefs named
Standard Life Investments and Aberdeen Asset Management have appointed David Paine from Standard Life and Pertti Vanhanen from Aberdeen as global co-heads of real estate for their merged business. They will be members of the investment management committee.
Grigg’s pay drops
British Land chief executive Chris Grigg’s total remuneration fell by more than £1.5m in 2016-17. Grigg’s salary fell from £3.6m to £2m owing to lower bonus payments connected to the company’s “relative property sector performance [being] slightly above or just below market level rather than delivering… clear outperformance”.
Berkeley price fall
Berkeley Homes’ average selling price for the year to end April decreased by 31% to £675,000. During the year the group sold a total of 3,905 homes, up by 3.4% from the total a year earlier. Forward sales for the group were down by 16% from a year ago at £2.7bn.
Dixon sells big
Regus founder Mark Dixon has made £94.2m selling 27.3m of his shares in the FTSE 250 company, now called IWG. He capitalised on takeover speculation after rumours that banks had been hired to sell the firm, and retains a 25% stake.
More for Moorfield
Moorfield Audley Real Estate Fund has raised £85m in its latest round of fundraising to take its total raised to £285m. Moorfield Group created MAREF in 2015 to acquire Audley, a UK-based retirement village developer and operator. MAREF now has spending capacity of more than £700m to be invested over the next five years.
