Development boss left in June after three decades at business
British Land’s former head of development has taken up a non-executive role at housebuilder Barratt.
Nigel Webb left the developer at the end of June after more than 30 years at the business, having started at the developer in 1992.
Barratt said Webb starts at the beginning of next month and will also join the firm’s Audit, Nomination, and Remuneration Committees from the same date.
Earlier this year, he was appointed as a non-executive director of real estate lending specialist Precede Capital, which was set up two years ago and has so far arranged loans totalling £1.7bn. He will also sit on the firm’s credit and ESG committees.
Webb has been replaced by the firm’s head of campuses David Lockyer who has been with British Land since 2010.
Lockyer was previously head of its Broadgate development and head of property management and has been on the developer’s executive committee since 2019.
Yesterday, the firm reported a 10% rise in statutory pre-tax profit for the year to June to £705m, on revenue flat at £5.3bn.
But the said the impact of “mortgage affordability challenges” on buyer demand meant that the firm’s forward sales were 36% down by value, to £2.4bn from £3.8bn.
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