Developer and investor P3 Logistics Parks is set to appoint British Land chief executive Simon Carter, following confirmation that he is stepping down from his role after five years at the helm of the UK-listed property company.
Carter, who first joined British Land in 2004 and has spent a total of 18 years with the business across two periods, will take up a similar senior leadership position at P3. He is subject to a 12-month notice period, during which British Land will begin the process of identifying his successor.
During his tenure as chief executive, Carter oversaw a period of strategic repositioning for British Land, strengthening its focus on London office campuses and retail parks. The company said he leaves the business with a strong management team in place and a platform well positioned to benefit from rental growth in supply-constrained markets.
William Rucker, chairman of British Land, thanked Carter for his contribution, noting that he has played a central role in shaping the company’s direction and preparing it for its next phase of growth. He said the board wishes Carter well in his new role at P3 Logistics Parks.
Reflecting on his departure, Carter said British Land has been a defining part of his professional life and described it as a privilege to have led the business. He thanked the board, executive committee and colleagues for their support and commitment to delivering the company’s strategy over the past five years.
Carter added that decisions taken in the period following the pandemic have positioned British Land for long-term success, particularly across its core London and retail park assets. While acknowledging there is never a perfect time to move on, he said he leaves the business with market-leading positions and a strong outlook.
His move to P3 Logistics Parks marks a high-profile leadership change within the UK and European property sector, bringing extensive experience of large-scale real estate investment and development to the logistics specialist.
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