Savills, JLL to advise on government property vehicles
The government has appointed Savills and Jones Lang LaSalle as its advisers as it sets up property vehicles to cut millions of pounds of costs from the running of the public-sector property portfolio. Property Week reported yesterday that Deloitte has also been appointed to advise on the financial aspects of the scheme, which is central to the government’s new Property Unit, headed by John McCready.
Mr. McCready has previously said that the new property vehicles will manage government property assets centrally and seek partnerships with the private sector to work on development of certain sites. The government expects to save millions of pounds through this approach to managing its property assets.
Property Week said Savills and JLL were selected from a shortlist of 12 bidders for the role, which is expected to encompass sales of government-owned properties as well as management of the retained assets in the portfolio. It says the companies invited to bid were CB Richard Ellis; Colliers International; Drivers Jonas Deloitte; DTZ; Gerald Eve/Ikon Consultancy; GVA Grimley; JLL; Knight Frank; Lambert Smith Hampton; Montagu Evans; Savills; and Thomas Lister.
