BNP Paribas Real Estate is to assume responsibility for property management, real estate and facilities management services across energy group National Grid’s surplus property (RESP) portfolio.
BNP Paribas Real Estate is to assume responsibility for property management, real estate and facilities management services across energy group National Grid’s surplus property (RESP) portfolio.
This contract complements the existing joint venture arrangements on larger developments in the National Grid property portfolio.
As part of the agreement, BNP Paribas Real Estate has a three-year mandate to prepare the sale of
about 350 former industrial sites on over 1,012 hectares of land.
BNP Paribas Real Estate will provide property and facilities management services, with incentives to maximise rental income and accelerate site sales. BNP Paribas Real Estate said it has partnered with Mitie to provide some of the direct facilities management services of the contract such as security and landscaping.
'National Grid has seized the opportunity to find a better way to contract these services, seeking innovative solutions to reduce our risk and drive efficiencies across our portfolio,' said Richard Alden, head of property at National Grid.
