Old Park Lane Management appoints JLL as managing agent
Following a competitive tender process, OPLM has appointed JLL as sole managing agent to its portfolio of office and mixed-use assets in Central London.
JLL will manage key customer relationships across the private property company’s portfolio, covering 13 assets, in excess of 1m sq ft, with holdings spanning the West End, Mid-Town and the City of London.
Supporting the company’s long-term strategy of creating high-quality, sustainable office locations, JLL will be responsible for the mobilisation and future management of the largest project under construction, the 450,000 sq ft office and retail development at 20-22 Ropemaker St in the City of London. Due for completion in summer 2023, the 25-storey building is 70% pre-let to Linklaters as their global headquarters.
JLL’s remit will also cover 7 Millbank, another major development in construction. Due to commence in summer 2022, and complete in Q1 2026, the project is OPLM’s first carbon neutral-in-use development in London, part of the company’s long-term vision to develop projects with placemaking, quality design, and exemplary sustainability standards as pre-requisites. Once complete, the portfolio will increase to 1.5 million sq ft.
David Gardiner, Head of Property Management at OPLM, said:
“Upon concluding a rigorous selection process, it was clear that JLL’s track record in London of successfully mobilising landmark office developments and providing innovative solutions for complex buildings was a differentiator and thus would be key in helping us to achieve our long-term strategy. They offered a team of experts who we felt would best complement OPLM by working in close partnership with us to help manage our key customer relationships, evolve our vision for a responsible, sustainable, and smart portfolio and unlock operational efficiencies across our portfolio for generations to come.
We would like to express our thanks to Cushman & Wakefield who have for many years provided us with property management service on some of the assets”
Andrew Child, Client Relationship Director - Property & Asset Management at JLL, added:
“We are delighted to be entering into a partnership with Old Park Lane Management and are looking forward to creating a market leading offer, driven by collaboration and customer service. Sustainability is at the core of what we do and through delivering a full package of Property Management services, this will allow us to unlock the portfolio’s full potential.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.