Public Sector Plc appoints Chief Financial Officer as it strengthens senior leadership team for future growth
Public Sector Plc appoints John Webber as Chief Financial Officer, as it strengthens its senior leadership team for future growth.
With almost 20-years’ experience in the sector, John has significant expertise in leading finance for real estate funds including PRS, commercial property and social housing developments.
He joins Public Sector Plc from Legal & General Investment Management (LGIM), one of Europe’s largest asset managers and a major global investor.
At LGIM, John led the finance function for six real estate funds and joint ventures worth more than £10bn and led the delivery of more than £5bn of transactions. John led the debt origination for LGIM’s Build-to-Rent Fund, securing £225m development finance from three lenders to support six PRS development schemes in England.
John also oversaw finances for The English Cities Fund – a regeneration and investment partnership between Homes England, Legal & General and Muse Developments, which doubled in size from £100m to £200m in 2017 and is currently delivering a mix of residential and commercial developments in Salford, Plymouth and Canning Town.
John joins Public Sector Plc as it is launching a new housing model called LetLife, with a target to deliver 3,000 new modular PRS homes for families by the end of 2022, in partnership with councils.
Between 2006-07 and 2016-17, the number of households with dependent children in the private rented sector increased by about almost one million (966,000), yet almost nine-tenths (86%) of the pipeline in Britain’s nascent PRS market is for flats and apartments.
This leaves a huge gap in the market for council investment and the development of PRS housing which is suitable for the needs of families - offering a modern, well maintained and professionally managed home, the security of longer tenancies, lower energy bills and carbon footprint.
To date, Public Sector Plc has signed partnerships with 19 councils across England leading to an investment of more than £374m in new construction projects including the development of more than 2,300 new homes and 110,000 sq. metres of commercial floorspace.
The Partnerships are becoming popular with local authorities as they search for new forms of revenue to make up for a 38% reduction in Government grant since 2010.
Before joining LGIM, John was at PWC where he provided corporate finance advice to developers, infrastructure investors and government across regeneration, real estate, social housing and infrastructure transactions.
In that time, he worked with many English local authorities and housing associations including Hammersmith and Fulham Council, Catalyst Housing Group and Your Housing Group as well as the Ithmaar Development Company on their successful bid to secure the first government housing partnership in Bahrain.
John joins CEO, Adam Cunnington, and Paul Brown, in the newly created role of Chief Operating Officer, as part of a new executive team at Public Sector Plc.
Adam Cunnington, CEO, said: “These are very exciting times for Public Sector Plc and John’s appointment means we have an incredibly strong executive leadership team in place to assist our local authority partners as we embark on this period of continued growth.
“With almost two decades of experience, John has a tremendous pedigree as someone who can deliver safe and attractive real estate financing options for local authorities at a time when council budgets have been cut and local authorities need to deliver much-needed new homes and revenue streams.”
John Webber said: “Public Sector Plc is a business that has been providing funding, skills and strategy in property for local authorities for more than a decade. The challenges faced by each of our local authority partners are unique and I’m extremely excited about using my experience to help them. By working together we can create win-wins for local authorities, local taxpayers and local communities and I cannot think of a more satisfying challenge to take on.”
About Public Sector Plc
Public Sector Plc™ (www.publicsectorplc.com) is a private company set up in 2007, which partners with local authorities to offer strategic asset management and unlock value within their property assets through a model called, Relational Partnering. This is a model that, through the principles of in-sourcing, allows councils to access additional skills and expertise from the private sector.
To date, 19 local authorities across England have partnered with Public Sector Plc to unlock revenue, capital or wider benefits from their assets through Public Sector Plc’s capabilities; land promotion and regeneration, portfolio management, housing and social care/extra care.
Connect with us on our social media channels:
For further information, please contact:
Head of Marketing and Communications
t: 020 3758 8466 / 07515 852 462