Essex county council has appointed Lambert Smith Hampton to help drive sales of around £200m from its £1.6bn property portfolio by the end of 2008.
The contract, worth around £4m over five years excluding an additional two-year extension option, will see LSH complete an initial strategic review of the Authority’s property portfolio before advising on improvements to the management of the estate and disposals.
Judith Sargent, manager of the estates programme at Essex county council, said the authority intended to consolidate from older, unfit for purpose buildings across the county into its more modern holdings.
It is thought that Essex is considering co-locating its 3,000 staff at its headquarters in County Hall, Chelmsford into Chelmsford borough council’s offices at the Civic Centre in the town.
“All of the sales proceeds will be re-invested in our services,” Sargent said.
LSH, which has advised Essex council for over 12 years, beat around four other shortlisted parties following a tender process for the contract via the Official Journal for the European Union.
Earlier this year LSH was chosen for a similar contract with Buckinghamshire council. The group also advises Northamptonshire County Council and Hertfordshire County Council.
Roger Tunnicliffe, LSH head of London office, said: “We aim to ensure that local authorities follow the best practice seen in the private sector.”
References: EGi News 11/12/06
