Railpen, manager of the £34 billion railways pension scheme in the UK, has appointed Parminder Singh as development director in its property team to lead its major developments in London and the UK with a particular focus on its extensive portfolio in Cambridge.
Singh has 20 years’ experience leading the development of landmark schemes in a range of sectors in the UK and Europe, including the Greenwich Peninsula with Lendlease, prime residential, office and five-star hotel development with Clivedale London as Head of UK development for Temasek subsidiary Mapletree Investments, and, most recently, as head of development in the UK for Nan Fung Life Sciences Real Estate.
At Railpen, Singh will work across its property portfolio, spending a significant proportion of his time working on major London refurbishment projects and leading the delivery of its innovation cluster in Cambridge, where Railpen is one of the largest real asset investors in the city. The cluster comprises 11 commercial assets totalling 1.9 million square feet, and includes workspaces, laboratories and research facilities, and build-to-rent homes.
Railpen said its objective in Cambridge, and more widely across its major property developments, is to deliver market-defining assets that "set the bar for quality, amenity provision, and the experience provided for workers".
Matthew Howard, head of property at Railpen, said: “The appointment of Parminder is another important milestone in our strategy to develop a portfolio of best-in-class assets that will establish a new benchmark in their respective sectors. His depth of experience, track record and commercial acumen will ensure we go beyond even our own expectations, creating places that help occupiers thrive, generate secure long-term returns for our members, and support the UK’s wider economic and social growth.”
Singh added: “The UK market is changing, with evolving occupier needs and wants, combined with shifting market dynamics, creating demands of buildings that require real innovation and creativity from developers. I believe Railpen has the vision required and a portfolio that is second-to-none, and I have the skills, experience and drive to help make it a reality. This is an exciting time to be joining the organisation, and I look forward to working with the team to create a series of very special assets.”
Singh is the second senior hire in Railpen’s property team in the last few weeks, following the appointment of the well-known Emma Goodford to head life sciences and innovation leasing across its Cambridge-Oxford portfolio, as reported. Goodford and Singh will work together closely to deliver the innovation cluster.
Railpen is on-site in Cambridge with Mill Yard, its £180 million, 180,000-square-foot mixed-use campus in the centre of the city. It has also obtained consent for 230 Newmarket Road, a 112,000-square-foot Grade A office building and 10,000-square-foot retail and leisure space in the city, as well as the redevelopment Eastpoint Business Park in Oxford into a 200,000-square-foot life sciences campus.