Stuart Mitchell is to become Managing Director of Group Property at The Jockey Club, which stages many of British horseracing’s leading events, including the Cheltenham Festival, the Randox Grand National and the Epsom Derby.
He will take up the position on The Jockey Club’s Executive Team on Monday 16th January 2023, becoming responsible for all real estate asset management across the Jockey Club’s 15 racecourses, The Jockey Club Estates and The National Stud for the largest employer in Britain’s second-biggest spectator sport. He will report to Chief Executive, Nevin Truesdale.
Stuart will oversee The Jockey Club’s stated strategy to maximise value from non-core racing assets, the proceeds from which will be reinvested back for the long term good of British horseracing.
Stuart joins from FTSE listed NewRiver REIT plc where he was Head of Third Party Asset Management and a member of the Executive Committee responsible for third party asset management and the Southern shopping centre portfolio. Stuart spent 12 years at NewRiver REIT plc having joined in 2010 shortly after their IPO helping grow the business into one of the UK’s leading real estate investment trusts specialising in buying, managing and developing resilient retail in the UK.
He brings with him a depth of experience in asset and development management, stakeholder engagement, investor relations, corporate financial governance and ESG as well as a vast network of contacts across a number of use classes that will be integral to the future of The Jockey Club’s real estate portfolio and strategy to reinvest into British horseracing.
A member of the RICS and Revo Asset Management Advisory Panel as well as a past member of the British Property Federation Insolvency Committee and a number of Business Improvement Districts (BIDs) across the UK, Stuart is experienced is working with a number of stakeholders, businesses and communities.
Prior to NewRiver REIT plc, Stuart worked at BNP Paribas Real Estate latterly in the Capital Markets team advising on retail investment properties on behalf of UK pension funds and property companies.
Stuart succeeds William Gittus who has decided to leave the Jockey Club after 16 years first as Managing Director of Jockey Club Estates and more latterly as Group Property Director.
Stuart Mitchell said: “I’m honoured to be joining The Jockey Club with its iconic sporting stages which through its multi-billion-pound real estate portfolio I am excited to be leading the real estate team and strategy to reinvest all profits back into British horseracing. As an avid sportsman with a passion for the real estate industry, I see endless opportunities across an array of sectors within our fantastic portfolio.
“Having visited several assets, met a number members of the team including some members of the Board of Stewards I’m really impressed and look forward to joining the Executive Team led by Nevin and his very capable wider team to deliver both existing projects and future strategies of this wonderful sports business.
“After an amazing year travelling the world with my wife and 3 children pegging off 10 countries in as many months, I feel reset, refreshed and ready to pour all my energy into the success of The Jockey Club to ensure the racecourses provide fantastic attractive venues for the future of British horseracing”.
Nevin Truesdale said: “I am delighted to welcome someone of Stuart’s calibre to the Jockey Club. I know he will bring a significant amount of experience to this role while setting out a long-term property strategy which maximises new and existing opportunities to contribute to our vision of creating a thriving horseracing industry for the benefit of all.
“I would also like to express my huge thanks to William Gittus, to whom we all owe a debt of gratitude for his tireless and hugely committed service to the Jockey Club over many years, delivering on a number of key objectives on the Property agenda. I wish him all the best for the next chapter of his career.”