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Real estate giant Jones Lang LaSalle’s investment management subsidiary – LaSalle Investment Management – has appointed competitor Savills to manage the national portfolio of the British Coal Pension Fund.
The requirement includes a mixed-use portfolio of over 100 properties and 11m sq ft, and Savills has been instructed to maintain property and facility management.
The portfolio comprises all asset classes, including shopping centres, retail parks, office parks, central London offices, industrial estates and PRS.
Fraser Williams, Chartered Surveyor and Director at Morgan Pryce, says; “This is a nationwide as well as a mixed-use portfolio, which plays to Savills’ regional strengths and a sector-specialist approach across retail and business space assets. It is interesting to see two main competitors working together, especially on a large and economically substantial portfolio.
Andrew Holden, Director in the property management team at Savills, echoes; “We very much look forward to working with LaSalle in the years ahead.”
Rebecca Gates, Head of Asset Management at LaSalle Investment Management, explains; “Our decision to appoint Savills as the property manager on one of our key, long-term client mandates was a natural extension to the work they already do for us across a number of PRS assets, and reflects their proven track record in managing portfolios with complex properties that sit across asset classes and different sectors.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.