IPSX has appointed Ian Womack, the former chief executive of the real estate division of Aviva Investors, as a senior adviser.
Womack will work closely with non-executive director Rob Bould to develop relationships with potential issuers on the exchange for the trading of securities in commercial real estate assets.
IPSX is expecting to receive its FCA accreditation next month and formally launch later this year. Landlords will be able to list individual assets, most likely as REITs, and each property will have its own board and structure. Shares will be sold through IFAs and stockbrokers.
The platform has attracted investment from companies including British Land, Tritax and M7 Real Estate.
Womack retired in 2015 and has since taken up a series of non-executive and independent advisory roles.
Womack said: “IPSX is exactly what the real estate industry needs at this time: a new and innovative approach for investors to access investment in commercial property. Importantly, IPSX will open up the asset class to retail investors seeking to invest in large, high quality, single assets. I look forward to working with the team in developing the huge opportunity that IPSX represents.”
To send feedback, e-mail david.hatcher@egi.co.uk or tweet @hatcherdavid or @estatesgazette
