British Land is preparing for an investment drive outside its core UK retail and offices portfolio, including an expansion into European real estate.

British Land, the second-largest property company in the UK, on Wednesday appointed two directors to its board to help oversee its investment strategy. Stephen Smith, the well-regarded global head of asset management at Axa Real Estate, will join as chief investment officer and executive director. Charles Maudsley, co-head of Europe at LaSalle Investment Management, will become executive director with responsibility for business expansion.