Savills acquires British Land’s third-party property management portfolio – in a joint press release published on their websites British Land (BLND) have announced that it has sold its third-party property management portfolio within its property management business, Broadgate Estates to Savills, the international real estate adviser. Approximately 160 Broadgate Estates employees are expected to transfer to Savills under the terms of this agreement.
In the joint press release, it says that the disposal will enhance Savills’ current service offering within its property management operation, which covers 360 million sq ft in the UK. The disposal enables British Land to dedicate Broadgate Estates to “maintaining a premium experience for visitors to its own portfolio”, in line with its strategy of creating “Places People Prefer”.
More on Broadgate Estates
Broadgate Estates was established in 1986 and has since grown into a team of 500 people managing 83 assets across the UK, approximately half of which are owned by British Land. Its services include managing the customer experience, financial control and reporting, management of facilities and public realm and supporting clients in reducing their environmental impact. The third-party portfolio comprises contracts to manage 28 locations in London and Liverpool for 14 clients.
More on Savills
Savills plc. is a global real estate services provider listed on the London Stock Exchange. The company has an international network of more than 600 offices and associates throughout the Americas, the UK, continental Europe, Asia Pacific, Africa and the Middle East, offering a broad range of specialist advisory, management and transactional services to clients all over the world.
BLND : Savills acquires British Land’s third-party property management portfolio