December 4, 2012
After five years as Managing Director of Redevco UK Simon Smith is to leave the business at the end of January to set up a new property company focusing predominantly on the retail arena. The new business will focus primarily on acquiring and asset managing well located, underperforming properties across the retail sector in targeted areas of the UK.
At Redevco, Simon has been responsible for the UK and the Nordic region (circa €1bn of assets) where he has worked within Redevco’s global strategy of reshaping the portfolio and getting it ready for its next period of investment. Whilst Simon has been Managing Director over €500m of retail, office and residential assets have been either bought or sold.
His responsibilities for the Nordics included managing Redevco’s successful exit from the region.
Andrew Vaughan, CEO of Redevco said: “We are sad that Simon is leaving. Redevco’s UK portfolio has performed exceptionally well under his management and his work for us in the Nordic region has been excellent. I am sure that his next venture will also be a great success”
Simon Smith said: “I have greatly enjoyed working with the Redevco team, it has been a very busy five year period but the time has come for me to pursue an opportunity which I am very excited about. Working at Redevco has been a great experience and I have formed strong relationships which I hope will continue.”
An announcement on his replacement is expected before the end of the year.