Cushman & Wakefield to manage Crown Estate’s £1.5bn regional portfolio
Cushman & Wakefield has won the contract to provide property management services to The Crown Estate’s £1.5bn regional portfolio for the next five years. C&W will provide finance and business support as well as property and facilities management, and will work with The Crown Estate in implementing its sustainability strategy for the portfolio.
The regional portfolio comprises 40 assets totalling 6.5m sq ft and has nearly 400 direct tenants. Properties include office space and industrial units as well as retail parks in 14 prime regional locations including retail property in Leeds, Slough, Portsmouth, Harlow and Nottingham. It also includes two 50:50 shopping-centre joint ventures with Land Securities, in Oxford at the Westgate Shopping Centre and in Exeter at the Princesshay Shopping Centre.
Bryan Laxton, CEO of Cushman & Wakefield UK, said the portfolio comprised a broad range of asset classes with national coverage. The contract will be led by Anne Rush, partner within the property and asset management department. C&W already provides property management services to The Crown Estate’s Regent Street portfolio.
