Regent Street Partnership appoints JLL to run Regent Street Management Direct

Regent Street Partnership has appointed JLL to oversee Regent Street Management Direct (RSMD) on a five-year contract and will see JLL, under the RSMD brand, take responsibility for property and facilities management and day-to-day relations with occupiers on Regent Street.


13 October 2015

Regent Street, west end of London

 

  • The existing successful RSMD Cushman & Wakefield team, led by Peter Best, will transfer to JLL to work closely with Central London Management Lead Director David Gardiner, Retail Management Lead Director Jordan Jeffrey, and Nigel Wheeler, JLL’s Chairman of Property and Asset Management.
  • The appointment follows the recent merger of DTZ and Cushman & Wakefield which created a conflict of interest in relation to the management and valuation of the Regent Street Portfolio.

David Shaw, Head of the Regent Street Portfolio at The Crown Estate said: “Cushman & Wakefield have successfully managed RSMD since 2004 and I am grateful for their significant contribution to the success of Regent Street over the last eleven years; key to this has been RSMD’s customer focused approach to maintaining relationships with our occupiers. I’m delighted to announce JLL’s appointment to help continue delivering a service that enables us to retain and attract global brands and businesses for our shops and modern offices.”

I’m delighted to announce JLL’s appointment to help continue delivering a service that enables us to retain and attract global brands and businesses for our shops and modern offices.”

David Shaw, Head of the Regent Street Portfolio

Colin Dyer, Global CEO JLL said: “It is a great honour to be working for The Regent Street Partnership, managing Regent Street, arguably the world’s most iconic retail destination. This is an exciting instruction which underpins our global commitment to deliver a premium service to our key clients.”

Guy Grainger, CEO JLL UK said: “Congratulations to the current management team for the excellent work they have done to date, and I look forward to welcoming them to JLL to help The Crown Estate deliver its exciting future vision for Regent Street. We will bring our London expertise and emerging technologies to further enhance customer experience, ensuring Regent Street continues to reinforce its status the world’s premier shopping and business location.”

The Crown Estate manages Regent Street on behalf of the Regent Street Partnership, which comprises The Crown Estate and Norges Bank Investment Management (NBIM). Since 2002, a £1 billion investment programme for Regent Street redeveloped historic blocks to create high quality modern retail and office space behind Regent Street’s historic facades. This has seen Regent Street transformed into one of the world’s most popular shopping, leisure and business destinations, which counts a wide range of successful global retailers, restaurateurs and companies amongst its tenants.