GVA announces that it has been appointed by Wandsworth and Richmond Councils, which have been operating a shared workforce since October 2016, to both manage the property investment portfolios of the two authorities, comprising more than 600 assets, as well as advise on complex disposals.
GVA’s Property Management team, led by Lisa Riva, will be responsible for the ongoing management of the portfolio, which includes retail properties, office assets, institutional buildings and car parks, in order to drive rental income, occupancy and value across the combined estates. GVA will identify a range of opportunities for active asset management, including targeted refurbishment programmes and the leasing of void space to further strengthen and diversify the tenant mix and income stream.
The GVA team currently manages a significant number of other local authority portfolios, including Westminster City Council, London Boroughs of Enfield, Hounslow, Tower Hamlets, Hammersmith & Fulham and the Greater London Authority’s land at the Royal Docks. GVA is recognised as a leading property consultant to the public sector with wider mandates for the MoJ, MoD and Dept for Communities and Local Government (DCLG).
Lisa Riva commented: “Winning this significant mandate from Wandsworth and Richmond Councils is a strong endorsement of our longstanding track record of adding tangible value to public sector portfolios through proactive asset management, both in London and nationwide.” Separately, GVA’s Land and Development team, led by Barney Hillsdon, has also been appointed as part of a panel of five specialist agents to coordinate complex disposals opportunities that may arise from either of the two Boroughs. This will include the disposal of assets such as surplus operational properties or development sites.
Barney Hillsdon commented: “We believe there are real opportunities within public sector property portfolios that can unlock sites to deliver high quality residential and commercial schemes in Wandsworth and Richmond.”