Chatham Maritime Trust (Kent)
Richard Farrer is an accomplished executive with extensive experience in real estate and management. Currently serving as Chief Executive Officer of Chatham Maritime Trust since August 2023, Richard previously held the position of Senior Director of Real Estate & Concessions International at Hertz Europe Ltd from June 2017 to November 2022. Prior to that role, Richard was Director at CBRE from June 2011 to February 2014, where responsibilities included leading the British Airways global real estate portfolio, encompassing approximately 9 million square feet across over 60 countries. Richard also worked as Senior Asset Manager at BAA from June 2008 to June 2011. Richard holds the MRICS designation.
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Chatham Maritime Trust (Kent)
Chatham Maritime Trust is a unique organisation, set up to meet a special purpose The Trust was formed in 1997 to take on the long-term management and maintenance responsibilities of the Chatham Maritime Estate, at the time one of the major urban regeneration sites in the country. Chatham Maritime Trust is a registered charity (no 1055710) and a company limited by guarantee. The Trust has four member organisations: Medway Council, HCA now known as Homes England and the Estate’s two occupier associations: St Mary’s Island Residents Association Ltd (residential) and South Maritime Residents Ltd (non-residential). The member organisations each have rights of nomination for Trustee appointments (the HCA one and the others two each) and the Trustee Board typically also includes four or five “Independent Trustees” who are usually local professionals with relevant skills. The Trust owns significant parts of the Chatham Maritime Estate, and acquires further sites as development completes. Eventually the Trust will own virtually all of the public domain of the Estate. The Trust receives funding for maintenance of the Estate from three areas: South Maritime service charges, St Mary’s Island rentcharges and from the Trust’s own endowment funds. The maintenance expenditure at Chatham Maritime is in the order of a million pounds a year, and the Trust anticipates remaining as estate owner and manager at Chatham Maritime well into the 2100s. Chatham Maritime Trust also plays a role in supporting the growing community at Chatham Maritime and community activities in the Medway Towns generally. The Trust does this through its Community Fund which it uses to promote events, and to sponsor or support community groups.