Savills appointed to manage £2bn regional portfolio

Savills has been appointed as Property Managers for The Crown Estate’s regional portfolio, comprising dominant retail and leisure schemes outside of London.  

01 February 2016

Fosse Park, Leicester

The portfolio, valued at over £2bn, includes 14 regional shopping parks, interests in three shopping centres and two leisure schemes. Examples of assets within the portfolio include; Silverlink Shopping Park in Newcastle, Aintree Shopping Park near Liverpool, MK1 Shopping and Leisure Park in Milton Keynes, the Coliseum Shopping Park in Ellesmere Port and CrownGate Shopping Centre in Worcester.

Savills role includes working closely with The Crown Estate’s asset management team to manage day to day relationships with occupiers and deliver property and facilities management services. 

Savills has taken over from Cushman and Wakefield which continues to act for The Crown Estate as its valuers on The Regent Street Portfolio. 

Hannah Milne, Head of The Crown Estate’s Regional Portfolio said: “Savills’ expertise in the sector will make a valuable contribution as we look to establish the portfolio as one of the best of its kind in the UK.  I’d like to thank Cushman and Wakefield for their efforts over the last few years, supporting us as we’ve looked to establish ourselves as a leader in the regional retail and leisure sector.”

Savills already acts as property manager for The Crown Estate’s central London residential portfolio and on behalf of The Crown Estate’s partnership with TH Real Estate regarding Princesshay Shopping Centre in Exeter.

Nicholas Herward, Executive Director, Head of Property Management said, “This is a hugely exciting instruction for the team. We aim to develop long lasting relationships with our clients and so we are even more proud that this has come straight of the back of our success in managing The Crown Estate’s Prime Residential portfolio in London and Princesshay Shopping Centre in Exeter.”

Andrew Holden who is the lead Director on the instruction added, “the appointment really showcases our ability to manage a high profile regional portfolio”.