Le Masurier was founded in 1835 in Jersey and is wholly family owned.
About the group
The Group has a number of high profile tenants across its commercial property portfolio and has significant property investment and development experience in many sectors.
Our Approach
Our approach is to build long term relationships with those partners that support our business ranging from professional property consultants, agents, advisors, tenants, funding partners, developers and investors.
Opportunity
The Group continues to seek commercial property investment opportunities in Jersey and the United Kingdom, ranging from direct property acquisitions through to forward funding new build developments.
About the group
Le Masurier is one of Jersey’s oldest active companies and one of Jersey’s largest property companies with substantial investments located through the United Kingdom and Jersey.
The Group’s property investment portfolio reflects a strategy of diversification, delivering secure growth over the long term.
The Group prides itself in maintaining long term relationships with its business partners across multiple disciplines with property investment activity taking the form of direct investment, development and forward funding projects.
The Group’s property investment portfolio reflects a strategy of diversification, delivering secure growth over the long term.
The Group prides itself in maintaining long term relationships with its business partners across multiple disciplines with property investment activity taking the form of direct investment, development and forward funding projects.
Our Partners
Our property development partners
The Group partners with property developers by forward funding projects with the completed property being held by the Group for long term investment. Development partners include Liberty Properties, Coltham and Opus Land.
Our property agents and advisers
Our property agents and advisors include Savills, Knight Frank, AHBN, Fineman Ross, Helix, Maillard & Co, JLL
and Lindley Mortimer.
and Lindley Mortimer.
Our funding partners
We treat our relationship with our funders as a genuine partnership with both parties wishing to mitigate risk. The Group enjoys very good relationships with The Royal Bank of Scotland International, Lloyds Bank International, Investec, and Santander.
Our commercial tenants
Our commercial property tenants are primarily business with strong covenants and include Whitbread PLC, Marks & Spencer, Wickes, Halfords, ScS, SIG, HellermannTyton, Autex Acoustics Limited, Partstown and Stark Group.
Our professional advisors and consultants
Our professional advisors and consultants includes lawyers, accountants and corporate service providers and include Blake Morgan, Bedell Cristin, RSM, Arlington, BDO and Collas Crill.
Our project partners
Our project partners include: Sheppard Robson, Maillard & Co, Axis Mason, MWL, T&G, Stantec, MS Planning, Boom and Gardiner & Theobald.
Do you want to partner with us?
Strategy
The Group has the primary objective of achieving long term, secure, sustainable, well diversified and growing income. This then distils down into territory specific business plans, that are achieved through working with our partners.
Core
Core assets are those that provide secure, long term, growing income. This is underpinned by tenants with strong covenants, on long lease structures, in core locations.
A purpose built Foodhall for M&S, within a few miles of the M6. The property perfectly surmises the Core strategy, as a single let, long lease property, to a plc covenant tenant. This property has a lease term of 20 years to M&S plc.
Value Added
Value added opportunities can be gained from asset management which includes lease re-gears, renewals and filling vacant space in order to maximise rents and capital values.
This estate lies just north of the M4, with close proximity to Heathrow Airport. Orbital is a multi-let industrial estate. The estate had a series of vacancies when acquired, which have since been reduced, working with our partners.
OPPORTUNISTIC
Opportunistic assets includes pure development, redevelopment and asset repositioning. These are longer term projects in parallel to the core portfolio of investment assets.
Le Masurier has acquired land in Bedford for industrial development and has engaged with the local authority to bring forward an industrial scheme. Le Masurier also holds a strong development pipeline to deliver future projects.
Our Process
The Group has the primary objective of achieving long term, secure, sustainable, well diversified and growing income. This then distils down into territory specific business plans, that are achieved through working with our partners.
Professional Partners
Le Masurier seeks to build longer term, trusting and intuitive relations with our partners.
Location
Location is key with the Group primarily investing in the South and Midlands of the United Kingdom where there is proven demand and limited supply.
Security & Growth
Generating long term, secure and growing income for our shareholders.
Meet the team
The Board
Michael Covell
Non-Executive Chairman
Michael Covell
FCA
Non-Executive Chairman
Mike has extensive experience as a non-executive Chairman.
He is currently Chairman of the Acolin Group, a Swiss headquartered cross-border fund distribution business; The Ascot Lloyd Group, a UK financial planning business; Le Masurier, a Jersey based real estate investment and development business; and Sackville Capital, a London multi-asset global investment advisory firm.
Previously, Mike was Chairman of both the Tilney Group, a UK wealth manager, and Hawksford International, an offshore fiduciary business. He was also a Director of The Bank of Butterfield and the International Property Securities Exchange and Leeds Castle Foundation.
Mike retired from Goldman Sachs in 2008, where he was a Managing Director in their European Private Wealth Management Division. Prior to Goldman Sachs, he was a senior partner at Rawlinson & Hunter, an international accountancy firm.
Mike is a keen sportsman with a particular interest in field sports and triathlons.
He was educated at Harrow School, London and L'Institut Britannique, Paris.
He lives in Dorset with his wife and their two daughters.
He is currently Chairman of the Acolin Group, a Swiss headquartered cross-border fund distribution business; The Ascot Lloyd Group, a UK financial planning business; Le Masurier, a Jersey based real estate investment and development business; and Sackville Capital, a London multi-asset global investment advisory firm.
Previously, Mike was Chairman of both the Tilney Group, a UK wealth manager, and Hawksford International, an offshore fiduciary business. He was also a Director of The Bank of Butterfield and the International Property Securities Exchange and Leeds Castle Foundation.
Mike retired from Goldman Sachs in 2008, where he was a Managing Director in their European Private Wealth Management Division. Prior to Goldman Sachs, he was a senior partner at Rawlinson & Hunter, an international accountancy firm.
Mike is a keen sportsman with a particular interest in field sports and triathlons.
He was educated at Harrow School, London and L'Institut Britannique, Paris.
He lives in Dorset with his wife and their two daughters.
Brian McCarthy
Managing Director
Brian McCarthy
BA (Dist.) MBA (Dist.) ABIM ACA
FCCA ICIOB FRICS
FCCA ICIOB FRICS
Managing Director
Brian spent ten years with Marks & Spencer Plc in the UK. In various roles he had responsibility for Board reporting of store profitability and financially appraising store development and acquisition proposals; culminating in him being appointed Group Balance Sheet Manager with specific responsibility for over £6 billion of property accounting.
Brian joined Le Masurier in 2002 as Finance Director and became Managing Director in 2009. He has direct responsibility for formulating and directing the investment strategy and in managing the pan-European operations of the Group. Brian is both a Chartered and Certified Accountant and a Chartered Surveyor and has held the position of Non-Executive Board member of the Finance Committee of the RICS.
Brian joined Le Masurier in 2002 as Finance Director and became Managing Director in 2009. He has direct responsibility for formulating and directing the investment strategy and in managing the pan-European operations of the Group. Brian is both a Chartered and Certified Accountant and a Chartered Surveyor and has held the position of Non-Executive Board member of the Finance Committee of the RICS.
Chris Ireland
Non-Executive Director
Chris Ireland
FRICS
Non-Executive Director
Having joined international property consultancy King Sturge in 1979 as a graduate, Chris learnt his trade in the investor part of the business, holding a number of increasingly senior roles to become Joint Senior Partner.
Following the merger of King Sturge and JLL, Chris became UK Chairman and Lead Director for Capital Markets at JLL where, for half a decade, he was at the forefront of growing the investment business and developing alternative investment areas in student housing, health and senior living. He is also involved with the Strategic Advisory Group of the Investment Property Forum, after chairing the industry organisation in 2015.
Away from work, Chris is a proud supporter of UK housing and homelessness charity Crisis.
Following the merger of King Sturge and JLL, Chris became UK Chairman and Lead Director for Capital Markets at JLL where, for half a decade, he was at the forefront of growing the investment business and developing alternative investment areas in student housing, health and senior living. He is also involved with the Strategic Advisory Group of the Investment Property Forum, after chairing the industry organisation in 2015.
Away from work, Chris is a proud supporter of UK housing and homelessness charity Crisis.
Brendan T McMahon
Non-Executive Director
Brendan T McMahon
Non-Executive Director
Brendan’s professional experience covers an international finance career achieving global sector and national leadership roles spanning over 32 years, with 22 as a Partner with PwC and its predecessor rms Deloitte Haskins & Sells and Coopers & Lybrand.
Brendan was a member of the PwC UK assurance leadership team and the PwC Global Asset & Wealth Management Leadership Team, acting as Global Private Equity Leader and European Private Equity leader for the asset management sector.
Brendan is a Member and Fellow of the Institute of Chartered Accountants in Ireland, Chairman and one of the founding members of the Jersey Policy Forum and Chairman of The Jersey Good Business Charter. He is also an alumni of the University of Cambridge Business Sustainability Leadership programme.
Brendan was a member of the PwC UK assurance leadership team and the PwC Global Asset & Wealth Management Leadership Team, acting as Global Private Equity Leader and European Private Equity leader for the asset management sector.
Brendan is a Member and Fellow of the Institute of Chartered Accountants in Ireland, Chairman and one of the founding members of the Jersey Policy Forum and Chairman of The Jersey Good Business Charter. He is also an alumni of the University of Cambridge Business Sustainability Leadership programme.
Edward Garfield-Bennett
Non-Executive Director
Edward Garfield-Bennett
Advocate STEP Notary Public
Non-Executive Director
Edward is a son-in-law of the late Fred Clarke, joining the Board in 2013 and is the current chairman of the remuneration committee and a member of the nominations committee.
Edward is a senior partner of Jersey headquartered law firm Bedell Cristin and is recognised in major legal directories and ranking guides as a leading practitioner in his field. His extensive legal experience covers all aspects of fiduciary structures often involving complex property holding arrangements and matters of inter-generational succession on behalf of international institutions and families.
He is a Jersey Advocate, a Jersey Notary Public, an English Solicitor (non-practising) and holds the STEP Advanced Certificate in Family Business Advising – he is also a member of The Law Society of Jersey, The Law Society of England and Wales, and the Society of Trust and Estate Practitioners (STEP).
Edward is a senior partner of Jersey headquartered law firm Bedell Cristin and is recognised in major legal directories and ranking guides as a leading practitioner in his field. His extensive legal experience covers all aspects of fiduciary structures often involving complex property holding arrangements and matters of inter-generational succession on behalf of international institutions and families.
He is a Jersey Advocate, a Jersey Notary Public, an English Solicitor (non-practising) and holds the STEP Advanced Certificate in Family Business Advising – he is also a member of The Law Society of Jersey, The Law Society of England and Wales, and the Society of Trust and Estate Practitioners (STEP).
Bryan Carroll
Non-Executive Director
Bryan Carroll
PhD
Non-Executive Director
Bryan Carroll is a zoologist who has spent his career in zoos and wildlife conservation. In July 2018 he retired from his role as CEO of Bristol Zoological Society (BZS). BZS is a charity which operates two wildlife attractions in the Bristol area, Bristol Zoo Gardens and the Wild Place Project. Bristol Zoo Gardens is the 5th oldest zoo in the world and the most popular ticketed visitor attraction in Bristol, welcoming over 500,000 visitors a year.
The Wild Place Project opened its doors in 2013 and has grown from around 70,000 visitors in its first year to almost 200,000 in 2017; the fastest growing visitor attraction in the West of England. BZS also has a range of conservation, scientific and education programmes around the world through its Institute for Conservation, Science and Learning.
Bryan has always been passionate about wildlife, having a BSc Honours degree in Zoology and a PhD in primate reproduction and social behaviour. He was awarded an Honorary Doctorate by the University of the West England in 2015 in recognition of his contribution to wildlife conservation and education. Bryan is also a Defra-appointed zoo licensing inspector, and has sat on various committees advising Defra on matters such as welfare standards for primates in private ownership, and the health and welfare of zoo animals.
The Wild Place Project opened its doors in 2013 and has grown from around 70,000 visitors in its first year to almost 200,000 in 2017; the fastest growing visitor attraction in the West of England. BZS also has a range of conservation, scientific and education programmes around the world through its Institute for Conservation, Science and Learning.
Bryan has always been passionate about wildlife, having a BSc Honours degree in Zoology and a PhD in primate reproduction and social behaviour. He was awarded an Honorary Doctorate by the University of the West England in 2015 in recognition of his contribution to wildlife conservation and education. Bryan is also a Defra-appointed zoo licensing inspector, and has sat on various committees advising Defra on matters such as welfare standards for primates in private ownership, and the health and welfare of zoo animals.
Michael Clarke
Non-Executive Director
Michael Clarke
Non-Executive Director
In 2017 Michael joined the Board, as a Non-Executive Director, representing a significant family shareholding. He is the fifth generation of the Clarke family to sit as a Board member; the family have been represented on the Board since 1911 when the, then 76 year old family business, was first incorporated as a limited company.
Michael first worked for the Company in 1986 when it was a Licensed Trade wholesale & retail operation, and later re-joined the Company in a full-time position at its Head Office overseeing the management of more than a dozen licenced retail outlets during a period of significant change for the Company from 2000 until 2003, when the Company’s wholesale and retail operations were sold and it transformed into a real estate company. Michael stayed on as part of the initial Property Management team until 2007, before moving to London to work for a management consultancy company. He later returned to Le Masurier in 2012 as Property Manager, overseeing the company’s numerous Jersey properties.
Michael first worked for the Company in 1986 when it was a Licensed Trade wholesale & retail operation, and later re-joined the Company in a full-time position at its Head Office overseeing the management of more than a dozen licenced retail outlets during a period of significant change for the Company from 2000 until 2003, when the Company’s wholesale and retail operations were sold and it transformed into a real estate company. Michael stayed on as part of the initial Property Management team until 2007, before moving to London to work for a management consultancy company. He later returned to Le Masurier in 2012 as Property Manager, overseeing the company’s numerous Jersey properties.
AUDIT AND RISK COMMITTEE
Brendan T McMahon
Chairman of the Audit and Risk Commitee
Michael Clarke
Bryan Carroll
REMUNERATION COMMITTEE
Edward Garfield-Bennett
Chairman of the Remuneration Commitee
Bryan Carroll
Michael Covell
NOMINATIONS COMMITTEE
Michael Covell
Chairman of the Nominations Commitee
Brian McCarthy
Edward Garfield-Bennett
Chris Ireland
Management Team
Brian McCarthy
Managing Director
Brian McCarthy
BA (Dist.) MBA (Dist.) ABIM ACA
FCCA ICIOB FRICS
FCCA ICIOB FRICS
Managing Director
Brian spent ten years with Marks & Spencer Plc in the UK. In various roles he had responsibility for Board reporting of store profitability and financially appraising store development and acquisition proposals; culminating in him being appointed Group Balance Sheet Manager with specific responsibility for over £6 billion of property accounting.
Brian joined Le Masurier in 2002 as Finance Director and became Managing Director in 2009. He has direct responsibility for formulating and directing the investment strategy and in managing the pan-European operations of the Group. Brian is both a Chartered and Certified Accountant and a Chartered Surveyor and has held the position of Non-Executive Board member of the Finance Committee of the RICS.
Brian joined Le Masurier in 2002 as Finance Director and became Managing Director in 2009. He has direct responsibility for formulating and directing the investment strategy and in managing the pan-European operations of the Group. Brian is both a Chartered and Certified Accountant and a Chartered Surveyor and has held the position of Non-Executive Board member of the Finance Committee of the RICS.
Gavin Booth
Head of Group Property
Gavin Booth
MBE, MA (Hons), Pg Dip, MRICS
Head of Group Property
Gavin joined Le Masurier in 2021 as Head of Group Property and is responsible for the UK, German and Jersey investment portfolio management, strategic input and sales and disposal activity.
Previously Gavin has worked at JLL, GE Capital Real Estate and a multi-family investment office, over a 25-year career. He held various roles during his 10-year tenure at GE, including underwriting new debt and equity real estate transactions, valuation, investment and risk management, for a £5bn portfolio of property. He was also Investment Director at a London headquartered multi-family office, where he transacted £250m in acquisitions and disposals of pan European and UK property.
Gavin qualified as a Chartered Surveyor in 2001, is a Fellow of the RGS and was appointed MBE in 2011. He was also previously a UK charity board Trustee for 12 years.
Previously Gavin has worked at JLL, GE Capital Real Estate and a multi-family investment office, over a 25-year career. He held various roles during his 10-year tenure at GE, including underwriting new debt and equity real estate transactions, valuation, investment and risk management, for a £5bn portfolio of property. He was also Investment Director at a London headquartered multi-family office, where he transacted £250m in acquisitions and disposals of pan European and UK property.
Gavin qualified as a Chartered Surveyor in 2001, is a Fellow of the RGS and was appointed MBE in 2011. He was also previously a UK charity board Trustee for 12 years.
Tom Williams
UK Property Investment Manager
Tom Williams
BSc (Hons) MSc MRICS
UK Property Investment Manager
Tom joined Le Masurier in 2018 full time, having previously been a Business Placement Student with the Group, whilst studying at the University of Bath.
Tom is now the UK Property Investment Manager, working with the team across lease events, Board reporting and seeking new investment opportunities for the Group throughout the UK.
Tom is now the UK Property Investment Manager, working with the team across lease events, Board reporting and seeking new investment opportunities for the Group throughout the UK.
Michael Clarke
Jersey Property Manager
Michael Clarke
Jersey Property Manager
In 2017 Michael joined the Board, as a Non-Executive Director, representing a significant family shareholding. He is the fifth generation of the Clarke family to sit as a Board member; the family have been represented on the Board since 1911 when the, then 76 year old family business, was first incorporated as a limited company.
Michael first worked for the Company in 1986 when it was a Licensed Trade wholesale & retail operation, and later re-joined the Company in a full-time position at its Head Office overseeing the management of more than a dozen licenced retail outlets during a period of significant change for the Company from 2000 until 2003, when the Company’s wholesale and retail operations were sold and it transformed into a real estate company. Michael stayed on as part of the initial Property Management team until 2007, before moving to London to work for a management consultancy company. He later returned to Le Masurier in 2012 as Property Manager, overseeing the company’s numerous Jersey properties.
Michael first worked for the Company in 1986 when it was a Licensed Trade wholesale & retail operation, and later re-joined the Company in a full-time position at its Head Office overseeing the management of more than a dozen licenced retail outlets during a period of significant change for the Company from 2000 until 2003, when the Company’s wholesale and retail operations were sold and it transformed into a real estate company. Michael stayed on as part of the initial Property Management team until 2007, before moving to London to work for a management consultancy company. He later returned to Le Masurier in 2012 as Property Manager, overseeing the company’s numerous Jersey properties.
Kate Le Cornu
Finance Manager
Kate Le Cornu
BSc (Hons), ACA
Finance Manager
Kate joined Le Masurier in November 2018 and is the Group Finance Manager. Kate has direct responsibility for managing the accounts team, ensuring the Group is in full compliance with relevant laws and regulations and supporting the MD in delivering the investment strategy of the Group. In addition, supporting the Audit and Risk Committee and Board of Directors through quarterly finance reporting and the annual audit.
Kate has 20 years’ experience in the Jersey Finance industry, having worked for PwC for 12 years and BDO for nearly 3 years. Kate was promoted to Senior Manager in Audit in 2008 and has significant experience with various different types of businesses including banking, private equity, real estate, SPV’s and funds.
Kate is a Chartered Accountant and a member of the Institute of Chartered Accountants of England and Wales and holds a BSc (Hons) in Biological Sciences from Exeter University.
Kate has 20 years’ experience in the Jersey Finance industry, having worked for PwC for 12 years and BDO for nearly 3 years. Kate was promoted to Senior Manager in Audit in 2008 and has significant experience with various different types of businesses including banking, private equity, real estate, SPV’s and funds.
Kate is a Chartered Accountant and a member of the Institute of Chartered Accountants of England and Wales and holds a BSc (Hons) in Biological Sciences from Exeter University.
Lin Dentten
Accounts Officer
Lin Dentten
Accounts Officer
Linda spent 28 years working for Robinson & Allfree Solicitors in Kent.
She had various roles starting as a Junior Accounts Clerk and eventually being the Head of the Accounts department and PA to the Financial Director.
Linda moved to Jersey in 2003 and after working as a PA for the Operations Manager in CI NewsAgents, moved into accounts again for BNP Paribas Bank and then Jersey Post.
She joined Le Masurier in 2016 as an Accounts Officer, and has direct responsibility for maintaining the accounting records for all our subsidiaries within the group.
She had various roles starting as a Junior Accounts Clerk and eventually being the Head of the Accounts department and PA to the Financial Director.
Linda moved to Jersey in 2003 and after working as a PA for the Operations Manager in CI NewsAgents, moved into accounts again for BNP Paribas Bank and then Jersey Post.
She joined Le Masurier in 2016 as an Accounts Officer, and has direct responsibility for maintaining the accounting records for all our subsidiaries within the group.
Christina Hegerty
Accounts Officer
Christina Hegerty
Accounts Officer
Christina moved to Jersey in 1991 and has had various roles in accounts before taking up an accounts role in the Trust department of BNP Paribas in 1997 where she worked for 25 years.
Christina joined Le Masurier in October 2022 as an Accounts Officer and has the responsibility of assisting and managing the Group’s accounts alongside Linda.
Christina joined Le Masurier in October 2022 as an Accounts Officer and has the responsibility of assisting and managing the Group’s accounts alongside Linda.