The chief executive of a major UK property developer has announced plans to step down this year to take the helm of a European logistics property business backed by a sovereign wealth investor. The move underscores growing strategic interest in the logistics real estate sector amid rising demand for distribution hubs across the region.
Simon Carter, who has been chief executive since 2020 and has been with the British company in various roles since 2004, will serve a 12‑month notice period before leaving his current post. During his tenure, the organisation has diversified its portfolio to include retail parks and urban logistics properties, helping to offset valuation challenges in traditional commercial assets.
Carter is set to become the next CEO of P3 Logistics Parks, a pan‑European logistics property investor and developer that operates across 11 countries and is majority‑owned by Singapore’s sovereign wealth fund. The company focuses on developing high‑quality logistics facilities that support modern supply chain networks and e‑commerce fulfilment capacity.
The leadership change was met with a negative reaction in equity markets, with the property developer’s shares trading lower following the announcement, reflecting investor sensitivity to executive transitions at major firms. Analysts say that Carter’s experience in both property and logistics will be closely watched as he moves into a sector playing a key role in accommodating the growth of regional supply chains.
The board of the property group has launched a search for Carter’s successor, aiming to maintain strategic momentum and operational continuity during the transition period.
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