JLL wins Regent Street
Published: 13 October, 2015
Ex-Cushman & Wakefield team transfer to run Regent Street Management Direct
The Regent Street Partnership has appointed JLL to oversee Regent Street Management Direct on a five-year contract and will see JLL, under the RSMD brand, take responsibility for property and facilities management and day-to-day relations with occupiers on Regent Street.
The existing successful RSMD Cushman & Wakefield team, led by Peter Best, will transfer to JLL to work closely with Central London management lead director David Gardiner, retail management lead director Jordan Jeffrey, and Nigel Wheeler, JLL’s chairman of property and asset management.
The appointment follows the recent merger of DTZ and Cushman & Wakefield which created a conflict of interest in relation to the management and valuation of the Regent Street Portfolio.
Since 2002, a £1 billion investment programme by The Crown Estate and Norges Bank Investment Management has redeveloped Regent Street’s historic blocks to create high quality modern retail and office space behind Regent Street’s historic facades. This has seen Regent Street transformed into one of the world’s most popular shopping, leisure and business destinations, which counts a wide range of successful global retailers, restaurateurs and companies amongst its tenants.
David Shaw, head of the Regent Street portfolio at The Crown Estate said: “Cushman & Wakefield have successfully managed RSMD since 2004 and I am grateful for their significant contribution to the success of Regent Street over the last eleven years; key to this has been RSMD’s customer focused approach to maintaining relationships with our occupiers. I’m delighted to announce JLL’s appointment to help continue delivering a service that enables us to retain and attract global brands and businesses for our shops and modern offices.”