JLL secures instructions worth GBP10m from Aviva, RLAM and LaSalle
JLL's Property & Asset Management has been appointed on a trio of large national portfolio instructions during the first seven months of 2017. The instructions from Aviva Investors, Royal London Investment Management and LaSalle are worth nearly GBP10 million in revenue over the next three years.
Following a competitive tender, JLL were appointed to manage c45 per cent of the Royal London Asset Management national portfolio in March 2016. The portfolio consists of 130 properties located throughout the UK with core holdings in the South East. Following the successful transition of the initial instruction, JLL were appointed on the remainder of the portfolio from May 2017 which consists of further 150 properties across the office, retail and industrial sectors throughout the UK.
JLL were also appointed as joint managing agents with Colliers on the Friends Life portfolio for Aviva Investors. JLL are responsible for the management of circa 100 properties with over 500 tenants from mid of July. Approx half of these tenants are in three shopping centres in Windsor, Andover and Guildford and will be managed by the specialist Retail Management team. The remainder of the mixed portfolio will be managed with the existing Aviva Investors funds from JLL's Norwich office.
JLL currently manage c65 per cent of Aviva's commercial portfolio and this represents a valuable extension to existing instruction.
Finally, JLL was appointed to manage seven additional funds for LaSalle Investment Management with a total of 115 properties and 500 tenancies. This is an addition to their existing instruction and JLL now manage over 65 per cent of LaSalle's portfolio.
Nick Lees (pictured), Lead Director UK Property & Asset Management, says: "The commitments made by all three investment firms is a testament to the quality of service work we commit to on a daily basis. It's also consistent with our ambitious growth strategy targeting opportunities where we can bring real value to our clients and generate a sustainable return on our efforts."