Property management services of real estate on a fee or contract basis

Tender description

Peabody Trust (‘Peabody’) is tendering the property management services for its London commercial property investment portfolio. Peabody has, to date, not acted as a commercial property focused developer but has retained its commercial property assets delivered through planning and the portfolio is associated with both historic and current residential development. Whilst the current portfolio is situated throughout London, Peabody now operates with a 30 miles radius of London so there may be commercial units in future schemes in surrounding counties. The current portfolio yields an income of circa 4 000 000 GBP pa and a value of circa 85 000 000 GBP. Based on our current mixed-use development pipeline, we envisage that this rent roll is likely to more than double over the next 5 years. The spread of the current portfolio is balanced across all sectors office, retail, leisure and ancillary uses. This is expected to continue in the future and with any additions to the portfolio. The successful bidder will be required to add any additional properties to the portfolio and manage them in the same format as the remainder of the portfolio. The opportunity includes the complete property management service from rent collection to financial reporting. You will be expected to have knowledge of and manage compliance processes, the differing occupier requirements across all sectors and provide innovative ideas to support to the Peabody Trust in increasing the overall value of the portfolio. This opportunity is purely for the property management of Peabody’s London commercial property investment portfolio. There will be no link with or potential instruction from any other part of Peabody or service line it provides. It excludes Peabody’s Thamesmead commercial portfolio.