LGIM Real Assets (Legal & General) has announced that it has appointed Denizer Ibrahim into the new role of Head of Retail and Futuring as it refreshes the business approach to retail prioritising great locations, top level service and strong partnerships.
The world of retail has changed unrecognisably. Since 2000, e-commerce has grown from 0.2% of retail sales to just below 20%; average lease lengths have shrunk from over 12 years to seven and the churn in retail business launches and failures has increased by 29% over the past five years. As a result, it is vital for owners and occupiers to work together in partnership to deliver more dynamic, engaging and vibrant retail spaces that meet and exceed the expectations of consumers.
Reporting to Michael Barrie, Head of Fund Management, Ibrahim, a Designer and Urbanist by background, has extensive experience in retail and rebuilding the urban environment for the future. He was most recently Director, Head of Commercial Placemaking and Masterplanning at BNP Paribas Real Estate, prior to that he was at Appear Here and the London School of Economics Cities Programme. Ibrahim’s role forms an important part of Legal & General’s strategy, ensuring that it continues to challenge retail market conventions. Ibrahim’s experience and passion for creating places that work for people to live, work and play will be integral to the role.
Michael Barrie, Head of Fund Management at LGIM Real Assets, said: “Denz is an energetic and imaginative individual and we are very excited to be welcoming him to the team to apply his insight into placemaking to our strategy. We aim to be the owner of choice, with a key vision to enhance and maximise the experience of our customer occupiers whilst continuing to maximise the performance of our investment funds.
“As owners we need to adopt a brave new approach to retail, curating environments which re-connect people with place. We must move from being the ‘librarians’ of space; collecting rent, letting shops and property managing, to doing this but also taking up the role of the ‘editor’ to ensure the content is relevant and responding to the changing consumer expectations of tomorrow. The process of creating great retail places today goes far beyond the physicality of real estate and architecture. Denz joins a great team of individuals keen to embrace this challenge.”
Andy Martin, CEO, BNP Paribas Real Estate UK, added: “Denz has been an important part of our move into placemaking where he led the team. This is an important part of our market development so naturally I am sorry to see him leave but we wish him well at Legal & General.”