Commercial property giant Redical has appointment real estate expert Savills as property manager across it entire portfolio of core UK retail and leisure destinations.

The agreement will also see the Savills Sustainability consultancy supporting Redical’s delivery of its “ambitious ESG goals”.

But Savills’ primary role will be to implement the group’s “transformative approach to drive the evolution and elevation of each asset forward, establishing destinations that outperform the market and benefit all stakeholders”. 

Comprising three core assets: Victoria Leeds; The Liberty Romford; and Clayton Square Liverpool, it’s a portfolio that comprises almost 1.2 million sq ft of retail.

Under the agreement, Savills will spearhead the property management of each destination with key roles including rent and turnover collection, tenant engagement, service charge management, retail delivery and supervision of on-site staff.
 
Mikko Syrjanen, co-founder of Redical, said: “Our belief is that significant enhancements to commercial performance and value, can be achieved through a process we describe as transformation through accumulation — making a number of smaller, but no less significant, changes and enhancements to our core assets that together drive improved performance.

“As property manager experts, Savills will play a fundamental role in implementing and managing these transformative changes and aiding the elevation of our core assets.”