Barclays is retendering its UK property management contract as part of a review of its 27m sq ft operational portfolio.
The five-year contract is currently held by BNP Paribas Real Estate and DTZ.The contract covers lease advice, transactions, ratings, rent reviews and dilapidations work across the 2,070 properties in Barclays’ office portfolio.
DTZ, BNP PRE, Jones Lang LaSalle, GVA Grimley, NB Real Estate, CB Richard Ellis, Johnson Controlsand Cushman & Wakefield have all submitted expressions of interest ahead of formal pitching.
Barclays is expected to award the contract by the end of 2009, but has yet to decide whether to appoint a single party or multiple agents.
The retender is the latest move by Barclays in the reorganisation of its property suppliers.
In August, the bank appointed a panel of five agents to undertake transaction management across its 13m sq ft portfolioin Europe, the US, Asia and Africa (29 August, p14).
