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News Release

London

Jones Lang LaSalle advises new public sector funding partnership

Public Sector Plc


Jones Lang LaSalle is advising on a new form of partnership to add value to local authority properties.  Paul Spencer, head of Jones Lang LaSalle’s Government and Infrastructure team, said; “With the pressure on budgets and reducing staff numbers, councils have welcomed this new partnership as a way to quickly bring forward property opportunities.  Projects have included reducing the number of council office buildings, making development happen and increasing rents from investment property.”

PSP was established to offer Local Authorities funding in connection with their property portfolios and is focused on property in all its forms; operational, non-operational and development.  It is funded through a joint venture (JV) between the Winston and William Pears Groups, established in 2007.

Adam Cunnington, managing director of PSP, said; “The PSP model encompasses a step-by-step facilitation process coupled with robust and flexible governance arrangements. This enables local authorities to ensure they have met all their statutory legal and financial obligations.   Use of this model enables a broad range of property projects to be delivered and also create revenue savings, generate capital receipts, make more efficient use of their property assets, de-risk property transactions and benefit from value created by the private sector.