Hugill is currently responsible for overseeing some of the UK’s most significant developments, such as the Elephant and Castle redevelopment and the London 2012 Olympics Athletes' Village in Stratford.
Hugill, who will step down in December, said: ‘The scale and quality of the development pipeline and the pace at which we have been able to team-build exceeds any realistic expectations. The delivery at Stratford is absolutely on track and in the best of hands. It is the right time to seek new opportunities.’
It is understood that Hugill will remain as the long-term chair of trustees of the new Allford Hall Monaghan Morris-designed Cobham Academy at the heart of the Athletes' Village.
Meanwhile, Lend Lease is continuing to struggle to raise the funds for its half of the £1 billion Athletes' Village project due to the economic downturn, and has had to slash the number of dwellings from 4,200 to 3,300.
However, the Olympic Delivery Authority’s chief executive David Higgins told the AJ yesterday that he was confident the issue would be resolved by the end of the year.
Higgins said: ‘I have no doubt that the funding issues will be resolved by the New Year. There is no Plan B when it comes to the funding because we won’t need one – the funding will be secured.’