25 September 2018 | Marino Donati
The Derwent Group has appointed global real estate services provider Savills to manage its half-a-billion-pound commercial property investment portfolio.
Derwent's group property managing director Hugo Clark said: "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 Derwent appointing an external managing agent for the first time was 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," she said.
Derwent staff affected by the decision will transfer to Savills under TUPE rules.
The Derwent Group operates across the retail, leisure, industrial and commercial sectors. Liverpool Shopping Park, Walkden Town Centre, White City Retail Park, Lancaster Business Park and Goose Green in Altrincham make up just part of the group's 2.8 million square-foot commercial property portfolio.