Montagu Evans has launched a development management function with the hire of Simon Russian, former head of retail at LGIM Real Assets.
Russian, who joins Montagu Evans as a partner, previously led retail development activity within Legal & General. This included progressing extensions to shopping centres in the Midlands and South of England, as well as delivering The Lexicon in Bracknell, a £240m town centre regeneration project.
He has also delivered a number of new developments and refurbishments within Legal & General’s retail and leisure park portfolio.
Russian joined Legal & General Property in 2009 as senior fund manager of retail development, from Wilson Bowden Developments, where he was head of retail and development director (https://www.egi.co.uk/news/l-g-property-appoints-new-retail-development-fund-manager/).
The news comes after Andrew Haughey joined Montagu Evans’ partnership in June after 24 years at Capital & Regional, latterly as its retail development director, to head up its asset management arm.
The asset management team now has around £500m of property under management, with additional mandates from four clients to spend more than £100m on diversified assets.
Montagu Evans said its development and asset management divisions will collectively bolster its regeneration project offering.
Its public and private sector clients include Surrey Heath, Sedgemoor, Teignbridge, Cherwell and Shropshire, the London Boroughs of Bexley and Lewisham and the City of London, as well as Aberdeen Standard, CBRE Global Investors, LaSalle Investment Management and Legal & General.
Alan Harris, partner at Montagu Evans and head of its town centre team, said: “With the retail sector undergoing seismic changes and town centres needing wide-reaching solutions, our clients are looking for support that can stretch from repositioning and restructuring to the delivery of new space and repurposing of existing assets.
“We now have the team in place to meet these needs. Simon and Andy bring first-hand, client-side leadership for the local authority base that has been a key focus for our town centre team, and to institutional clients looking for better solutions in this challenging area, both in and out of town.”
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