Bhavesh Mistry announces intention to step down and join Kingfisher plc

The chief financial officer and executive director of British Land has been poached by Kingfisher, the retail group which owns B&Q and Screwfix.

Bhavesh Mistry will leave the developer behind the 拢500m 2 Finsbury Avenue scheme in the City of London within the next year.

The developer said he will remain in his current roles while a replacement is found to ensure an effective transition. Mistry has a 12-month notice period.

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British Land鈥檚 2 Finsbury Avenue scheme in the City of London which will be built by Sir Robert McAlpine

A search for a new chief financial officer is already underway and the firm said it will make a further announcement in due course.

The move will mark a return to the retail sector for Mistry, who joined British Land in July 2021 following a three-year stint as deputy chief financial officer at Tesco.

Along with 2 Finsbury Avenue, which is being built by Sir Robert McAlpine, major projects which have come to site during Mistry鈥檚 time at British Land include the 53-acre Canada Water masterplan, one of the biggest regeneration schemes in London.

Other projects in development include a 拢90m overhaul of Broadgate Tower, to be carried out by Bam, and a 拢400m makeover of Euston Tower which the developer is working on with pre-construction advisor Lendlease.

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