Strutt & Partner’s Andy Martin to step down

Strutt & Parker has begun a process to appoint a new senior partner. Current senior partner Andy Martin has turned 60 and the rules of the partnership dictate that partners must retire in the year that they reach that age. Further details on the plan will be disclosed at a partners’ meeting on 6 February. A successor is likely to be appointed in the summer and be one of the other 52 partners. Last month, the company revealed that operating profits had fallen by 33.4% for the year to 30 April 2016 to £18.9m, and that revenue had eased off marginally by 3.2% to £107.7m. In January last year, the firm appointed Evercore to review the future of the business, which has over the past year been subject to interest from parties including BNP Paribas Real Estate. • To send feedback, e-mail david.hatcher@estatesgazette.com or tweet @hatcherdavid or @estatesgazette