By Gemma Taylor -
British Land has announced two new appointments to its retail asset management team, following last week’s positive financial results for the first quarter of its financial year.
Joining the real estate investment trust’s (REIT) team at its Head Office in York House, London, are experienced property professionals Duncan Reader and James Varley.
Reader, who has previously worked at Jones Lang La Salle on the company’s Retail Asset Advisory Team, will work within the retail warehousing and larger shopping park schemes.
Varley will focus on the superstore side of the REIT’s portfolio, helping oversee the asset management of stores in Fort Kinnaird, Edinburgh.
British Land announced on Thursday that the value of its property portfolio has grown to £9.9 billion, with underlying profits before tax up 1.6 per cent year-on-year to £65 million for the three months to June 30th 2011.
Commenting on the new appointments, Head of Retail Asset Management at the REIT Ben Grose said: “British Land has a very strong retail team that proactively manages our assets to ensure every retail scheme and superstore is delivering the maximum value.
“Within this context, Duncan and James are great additions, and we are delighted to welcome them to our highly-regarded team.”