ON & STAMFORD, the property firm run by industry veterans Patrick Vaughan and Raymond Mould, is to merge with retail landlord Metric Property Investments.
The pair yesterday said talks were “in advanced discussions” which, if successful, will lead to London & Stamford’s shareholders owning a 75 per cent share of the enlarged company and Metric taking the remaining 25 per cent.
Vaughan, London & Stamford’s chief executive, would become executive chairman while Metric’s boss Andrew Jones is set to become chief executive of the new group. Mould is to retire as chairman.
Analysts said the merger would solve succession queries over Mould’s retirement and bring together London & Stamford’s office-based portfolio with Metric’s retail assets.