The Francis Salway era at property firm Land Securities is set to come to a close at the end of March as the Chief Executive Officer hands over to Robert Noel, currently Managing Director of the London Portfolio.
The news was revealed in a statement accompanying the group's third quarter interim management statement covering the final three months of 2011.
Total property sales in the quarter were £104.0m (net receipts) at 1.9% below March 2011 valuation and at an average yield of 7.6%.
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Total investment in the quarter totalled £89.1m, including capital expenditure on developments of £51.1m and acquisitions of £11.1m. The acquisitions were at an average yield of 1.4%.
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