HMV creates combined property supremo position

HMV Group has appointed a property boss to look after both the HMV and Waterstone's portfolios.

HMV head of property Mark Bowles has been promoted to the newly-created position of head of property for both chains.

HMV Europe managing director Steve Knott said: 'This is a unique opportunity to capitalise on the size and strength of both brands and will ensure that both companies benefit from Bowles' extensive experience.'

A spokesman for HMV added: 'Mark will look at acquisitions and the development of our new store strategy. He will look at lease management and rent reviews and generally optimise our portfolio.'

Bowles will report directly to Knott.

HMV, which floated last year, is pursuing an aggressive acquisition strategy and plans to open approximately 20 eponymous stores a year. Waterstone's has just opened its first new store in three years and plans to open at least another 50.