LondonMetric Property has announced that long-serving CFO Martin McGann will retire in summer 2027, with a succession process already underway.

He will step down following the company's full-year results, after more than 14 years with the FTSE 100 property group.

McGann has effectively been there since day one. He joined when LondonMetric Property was formed in January 2013 and had worked with CEO Andrew Jones even before that at London & Stamford Property and Pillar Property.

He is credited as having played a key role in its growth into one of the UK's largest listed property companies.

LondonMetric has grown substantially since its formation, with a property portfolio worth around £7.5bn spanning logistics, convenience retail and other long-income sectors. It has delivered 11 consecutive years of dividend growth and generated annual contracted rental income of more than £420m.

The company said plans to appoint a successor were well underway, with an announcement expected in due course.

Jones said: "Martin and I have worked together for over 20 years and shared an extraordinary journey. Our partnership has propelled LondonMetric to become one of the UK's largest businesses. Martin departs with the Company financially and structurally well positioned, supported by a fantastic team that has been with us for many years. I am excited about finding a first class replacement who will help drive the next stage of LondonMetric's journey and enhance its unique culture."

McGann added: "The last 25 years at Pillar, London & Stamford and LondonMetric have been incredibly exciting and full of opportunities.

"There is plenty still to do before I hand over the reins next summer, and my focus remains firmly on the business and ensuring a smooth handover. When I do leave, it will be with enormous pride in what we have built together and real confidence in LondonMetric's future. I wish the team every success in the future and, as a shareholder, will watch on with interest and expectation as the dividend continues to grow."

LondonMetric Property shares were up around 0.9% at 186.0p on Monday.

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