London Central Portfolio (LCP) has announced the appointment of former Foxtons boss Andrew Weir as its new chief executive.
According to the property investment firm, Weir has an industry-wide reputation as a “consummate professional” in the property sector with over 30 years’ experience.
He was involved from the early stages of setting up Foxtons to managing its growth and taking it from private ownership to private equity and initial public offering. He held the position of managing director sales from 2014, managing 300 people and a £76m revenue portfolio, and subsequently became chief sales officer at Foxtons.
Weir will be supported by Liam Monaghan, recently promoted to managing director at LCP, having joined in 2013.
Naomi Heaton, founder and current chief executive, will become chairman of the LCP Group of companies. She will concentrate on the new joint venture established with APG, the Dutch-based pension fund, launching a new concept in prime central London accommodation.
Heaton said: “I am delighted that Andrew has taken on the role of chief executive at London Central Portfolio. He has unparalleled experience within the prime central London residential market, having been involved in the development of the Foxtons brand from its early days, through to private equity ownership and IPO.
“His experience spanning new business growth, team building and brand development will be an invaluable asset to LCP. I am looking forward to Andrew making a huge contribution to the growth, development and client service delivery of LCP, particularly at a time when the market faces unique challenges and opportunities.”
Weir added: “I am enormously excited to be joining such a well-regarded firm as LCP, which has established an enviable reputation in the prime central London market, due to its exceptional buying expertise and industry knowledge. LCP has impressed me so much with its professionalism and dedication to service.
“I am really looking forward to using my experience gained during a 30 year tenure at Foxtons to help build the brand further and increase its market share. It is an honour to be taking the role on from Naomi Heaton, whose entrepreneurial and seasoned leadership has taken the company so far.”