The Derwent Group has appointed Savills Manchester-based team to manage its half-billion pound commercial property investment portfolio.
The move is part of the Group’s plan to increase its focus on long term strategic asset management. Derwent staff impacted by the decision will transfer to Savills, with the contract due to commence on 1st December 2018.
Hugo Clark, Group Property Managing Director said: “This is a major move for the Group and underlines our intention to deliver best in class property management to our occupiers while focusing Derwent’s efforts on value creation through asset management. This is part of an ambitious strategy to focus our efforts on growing the portfolio across the country in order to best support the charitable objectives of our Founder, Albert Gubay.
“Working with Savills retail warehouse and commercial property specialists will enable us to rapidly expand our capabilities across IT systems, procurement, health and safety and compliance. We will be working closely with Savills to ensure that our assets are well positioned to meet the challenges of the current operating environment and offer a great experience to occupiers and visitors alike. Although the contract does not officially begin until 1st December, we are already working closely with Savills, as one team, to develop and enhance the delivery of our property and facilities management services across the portfolio.”
Megan Keany, Property Management Director from Savills, Manchester said: “As The Derwent Group is one of the largest and most successful property owners in the North West, appointing an external managing agent for the first time is a major milestone. We look forward to supporting the Group through this cultural shift and helping to fully maximise the value and performance of its extensive property portfolio.”
Liverpool Shopping Park, Walkden Town Centre, White City Retail Park, Lancaster Business Park and Goose Green in Altrincham are amongst The Derwent Group’s growing 2.8million sq ft commercial property portfolio. Whilst The Derwent Group will continue to be debt free, it estimates that it will have in excess of £50 million to spend on acquisitions over the next three years. The Derwent Group operates across the retail, leisure, industrial and commercial sectors and through The Albert Gubay Charitable Foundation will be generating grants to charitable causes of in excess of £10 million per annum.