Sterling Appoints Holmes as Director

Duncan Holmes has joined Sterling Property Ventures as a director to head up the firm’s asset management function. 

He joins from PGIM Real Estate, where he spent eight years, latterly as head of asset management with responsibility for a c.£5bn mixed UK portfolio. His 20 years’ experience also includes spells in commercial and residential property management at M&G Real Estate and NB Real Estate.

Sterling set up its asset management and investment arm last Autumn, having previously concentrated on development. 

The business acquired Mitchells & Butlers’ Birmingham headquarters from Legal & General earlier this year, in a £46m deal. The £236m acquisition of a mixed portfolio of seven assets from Blackrock, acting on behalf of British Airways Pensions Trustees Ltd, completed in June. 

Adam Crickmore, board director at Sterling, said: “Our ambition is to have a minimum of £1bn of assets under management, so it’s important to get the right team on board. Duncan’s experience in asset management for major institutions will prove invaluable as we grow the business and seek to optimise the portfolios we manage.”

Duncan Holmes said: “Sterling’s recent portfolio acquisition includes offices, a shopping centre, retail and logistics warehousing, a hotel and food and beverage space. This is an enterprising, growth implicit portfolio and I am excited to be working with the rest of the team to expand the business’s assets under management further.”