The Langham Estate has appointed Malcolm Pugh as chief executive of the Fitzrovia estate, as the £340m sale of its Lotus Portfolio completes.
Pugh was chief operating officer at the Langham Estate. He joined the company in 2011 as financial controller, becoming finance director in 2012. He takes over from Ahsan Ellahi, who left the company in 2023 following the launch of the Lotus Portfolio and after 13 years in the post.
Pugh will oversee a new corporate brand direction and business strategy supported by capital redeployed from Lotus sale. The firm aims to strengthen its position as the chosen partner for businesses in the West End. It has an investment programme of £50m to refurbish retail, office and leisure assets across the 11.3-acre Estate, including the restoration of heritage buildings.
Around £20m of investment is already underway at sites such as 93 Mortimer Street, W1. The former headquarters of Wella is being significantly refurbished to provide new offices or space for a culture and leisure occupier.
Pugh will also focus on closer collaboration with the wider neighbourhood via the West Fitzrovia BID.
The Lotus Portfolio, a 27-strong collection of properties comprised of retail and office buildings, was sold to Oval Real Estate for £300m. The portfolio included residential asset Hampden House, which was acquired by Concord London for £40m.
The new investment programme follows a strong year of leasing for the estate, which completed 50 deals throughout the year.
Pugh said: “The completion of the Lotus Portfolio sale and our ongoing investment programme will ensure the Langham Estate continues to evolve in line with occupiers’ needs.”
He added: “Despite inflation, London’s West End has retained its crown as Britain’s shopping capital, with weekly footfall increases surpassing double-digits in Q4 of last year. Coupled with consistently high demand for high-quality office space, this points to a very bright outlook for the district’s future.”
Image from Langham Estate
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