Savills wins Crown mandate
Published: 02 February, 2016
Savills appointed to manage £2bn regional portfolio
Savills has been appointed as property manager for the Crown Estate’s regional portfolio, comprising dominant retail and leisure schemes outside of London. The portfolio, valued at over £2bn, includes 14 regional shopping parks, interests in three shopping centres and two leisure schemes.
Aassets within the portfolio include; Silverlink shopping park in Newcastle, Aintree shopping park near Liverpool, MK1 shopping and leisure park in Milton Keynes, the Coliseum shopping park in Ellesmere Port and CrownGate shopping centre in Worcester.
Savills role includes working closely with the Crown Estate’s asset management team to manage day to day relationships with occupiers and deliver property and facilities management services. Savills has taken over from Cushman & Wakefield which continues to act for The Crown Estate as its valuer on the Regent Street portfolio.
Hannah Milne, head of the Crown Estate’s regional portfolio said: “Savills’ expertise in the sector will make a valuable contribution as we look to establish the portfolio as one of the best of its kind in the UK. I’d like to thank Cushman & Wakefield for their efforts over the last few years, supporting us as we’ve looked to establish ourselves as a leader in the regional retail and leisure sector.”
Savills already acts as property manager for the Crown Estate’s partnership with TH Real Estate at Princesshay shopping centre in Exeter.