International real estate consultant CBRE has been reappointed by M&G Real Estate to provide property management services in the UK.
M&G Real Estate’s portfolio here consists of 606 assets totalling over 67 million square feet of floor space comprising offices, retail and industrial uses with a value of at least £20 billion.
Under the new contract, which began on 1 May, CBRE will provide a set of core management services, including facilities and accounting solutions, plus some value-added services. CBRE has worked with M&G since 2011.
Richard Davies, M&G Real Estate’s head of property portfolio management, said a full market review and competitive tender process was completed and the instruction was awarded to CBRE.
David Fogarty, executive managing director of CBRE Property Management UK added that the adviser would apply “a refreshed delivery model to drive M&G’s portfolio forward”.
“CBRE will continue to enhance service delivery with the integration of technology and sustainability at the centre of all their activities, alongside a strong focus on providing an exceptional customer experience for all M&G Real Estate occupiers.”
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