Cushwake toasts Aviva management win
Cushman & Wakefield's Manchester office is to share in a significant national contract to manage 69 property assets of Aviva Investors Property Trust.
Aviva's portfolio includes a mix of shopping centres, high street retail, retail parks, industrial estates, business parks and leisure schemes throughout the UK. Well-known North West assets include the Triangle shopping centre in Manchester.
Fiona Hobson, asset management partner at Cushman & Wakefield's 29-strong Manchester office, said: "We are delighted to have been selected for this major UK mandate as it reflects the extensive capabilities of Cushman & Wakefield's national property management team and further strengthens our existing relationships with Aviva."
The portfolio has a total of 539 tenancies and a rent roll of circa £83.8m a year. Other assets include the Omni Leisure Centre, Edinburgh, 123 St Vincent Street, Glasgow, Guildhall Shopping Centre, Exeter, Broadway Plaza Leisure Scheme, Birmingham and Princes House, Piccadilly, London (home of BAFTA).
The properties will be managed from Cushman & Wakefield's Glasgow, Manchester, Birmingham and Central London offices. Cushwake will replace incumbent manager King Sturge at the end of the first quarter of 2010.
Philip Nell, fund manager at Aviva Investors, said: "We are very pleased to have made this appointment and feel that the energy, innovation and focus of Cushman & Wakefield's team would be a great move for the Fund at this point in time. We would like to thank the current management team, King Sturge, for the hard work and commitment they have shown to the fund over the 13 years they have managed the portfolio."
