After nearly 10 years at the helm of the Howard de Walden Estate, Toby Shannon will retire as chief executive in September.
Shannon joined the company in January 1997 as finance director and became chief executive in April 2006. He will remain a non-executive director.
During his tenure the estate has embarked on a major placemaking scheme in Marylebone, W1, securing independent retailers and restaurants and boosting rental income by leasing to specialist medical tenants around Harley Street, W1. Income across the estate has risen from £49.7m in 2007 to £96.3m last year.
Peter Barton, chairman of Howard de Walden Estates, said: “Toby has made an outstanding contribution to the company and the estate during his long service with us, overseeing a period of remarkable growth and steering the ongoing development of the estate within the Marylebone community.”
Covering 90 acres and owning the freehold of more than 900 properties valued at £3.7bn in total, the estate is one of the major landowners in London, and can trace its history back to the Domesday Book of 1086.
The estate has appointed recruitment firm Odgers Berndtson to search for a new chief executive.
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