11 July 2017 | Herpreet Kaur Grewal
Real estate adviser Savills has been appointed to deliver property and facilities management for the estate of the British Coal Pension Funds.
Savills' contract is on behalf of LaSalle Investment Management. The British Coal Pension Funds has an estate totalling 100 properties across about 11 million square feet (1 million square metres). The mixed-use portfolio comprises all asset classes including shopping centres, retail parks, office parks, central London offices, industrial estates and PRS.
Andrew Holden, director in the property management team at Savills, said: "The nationwide and mixed-use nature of the portfolio plays to our regional strength and sector specialist approach across retail and business space assets."
Rebecca Gates, head of asset management at LaSalle Investment Management, added: "Our decision to appoint Savills as the property manager on one of our key long-term client mandates was a natural extension to the work they already do for us across a number of PRS assets and reflects their proven track record in managing portfolios with complex properties that sit across asset classes and different sectors."