Morrisons has hired former LaSalle Investment Management fund manager Charles McKendrick to head up its newly created asset management team.

The retailer has more than £8bn invested in property across the UK which McKendrick will ensure is delivering maximum returns.

Prior to LaSalle, McKendrick was Evans Property Group’s investment director and an investment agent at Jones Lang LaSalle, specialising in buying and selling portfolios.

Morrisons group property director Terry Hartwell said: “We have stores from 8,000 sq ft, through to retail parks, shopping centres and million sq ft distribution hubs, all of which we think will benefit from Charles’ strategic input.”

McKendrick said: “The opportunities to create value are vast.  Everything, from extending stores through to optimising the tenant mix in our shopping centre and retail portfolios, is there to be done.”