We have been awarded a three year contract to deliver property services for Severn Trent Plc across central England and Wales. Core services will include the provision of strategic advice, planning, disposals, property management, telecoms and lease advisory across their let portfolio, together with a range of services in respect of the operational portfolio.
Portfolio includes 1,700 interest over 55,000 acres
The let portfolio comprises 1,700 interests extending to some 55,000 acres made up of commercial, residential, agricultural, telecom masts, leisure, and a range of other miscellaneous interests which produce an income of more than £4m per annum, while the operational portfolio extends to over 6,000 assets.
Best practice property service
The contract is a first generation outsourced contract reflecting Severn Trent's desire to aggressively work its assets and adopt a best practice property services model which can be integrated with the facilities management appointment recently secured by Mitie. The contract will be managed by LSH's Corporate team in Birmingham and supported by its Bristol, London and regional offices, together with sub-consultant Halls Worcester LLP to deliver specialist agricultural services.
Commenting on the appointment, Mark Sayers, from our Corporate Advisory Service team, said: “Severn Trent has recognised the transformational potential that appointing LSH will give in terms of managing and working this portfolio. This contract arrives on the back of a number of significant national contract wins this year."
Severn Trent’s Property Services Director, Ted Pearce, said: "We are committed to a journey to become the best water company in the UK and this contract with LSH is another important step on our journey. Our customers stand to benefit from the innovation that LSH will bring to the contract."