Savills acquires British Land’s third-party property management portfolio

British Land has agreed to sell the third-party portfolio within its property management business, Broadgate Estates, to Savills. The disposal will enhance Savills’ current service offering within its property management operation, which covers 360 million square feet in the United Kingdom, and enable British Land to dedicate Broadgate Estates to maintaining a premium experience for visitors to its own portfolio, in line with its strategy of creating Places People Prefer.

The third-party portfolio comprises contracts to manage 28 locations in London and Liverpool for 14 clients. Approximately 160 employees are expected to transfer to Savills under the terms of this agreement.