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News Release

London

JLL develops PRS management service

As demand for investment in the sector soars


As the demand for PRS investment has grown amongst institutional investors JLL has been at the forefront of developing a PRS letting and management solution offering a service that combines all the elements of PRS management; letting, AST management and block management via a simple and holistic approach which has proven attractive to investors.

As a result JLL have recently been appointed as managing agents, including letting, of a PRS scheme in Stratford on behalf of Aberdeen Asset Management. Branded One Eighty, the 166 unit scheme is the largest income producing PRS deal done by an institutional investor to date.

With a range of one, two and three bedroom apartments the 26 storey tower benefits from impressive views over the Olympic Park. Located close to the Westfield shopping centre and Stratford station (9 minutes to Canary Wharf) JLL has been inundated with enquiries for available apartments.

JLL is responsible for the employment of the onsite team including a 24 hour concierge and full time cleaners at One Eighty who help to provide and maintain a welcoming environment for residents.

At One Eighty the tenant experience is the key priority and a number of upgrade works are currently underway which will result in additional services being provided to residents. Including a cold store for food deliveries, high speed WiFi, a laundry service and a private function and dining room for hire these additional services will all be maintained and managed by JLL.

Sam Winnard – Residential Director at JLL

comments: "This is a significant step forward in the PRS cycle which enables us to offer our clients a one-stop-shop for PRS investment.

Philip Wakeling - Property and Asset Management Director at JLL

adds: "As the volume of residential assets continues to grow within our clients managed portfolios, this service will further enhance the breadth and depth of our UK Property and Asset Management capabilities as well as deliver a consistent market leading service to our clients in this important investment sector."

Sam Winnard

concludes: "With full management of the scheme JLL has total oversight of the operational expenditure and working with Aberdeen Asset Management has already been able to provide cost reductions through the benefit of procurement agreements with suppliers. As part of JLL’s wider UK portfolio appointment with Aberdeen, plans are also in hand to deliver further scale based economies and continual service evolution to One Eighty Stratford throughout its appointment."