Drinks giant Diageo has appointed CBRE to manage its property portfolio across Europe, the Middle East and Asia.
The appointment follows a lengthy tender process which ended in a tussle between CBRE and Jones Lang LaSalle for the mandate.
The three-year contract will see CBRE manage Diageo’s 300 leasehold and freehold properties across 35 countries.
It is the first single mandate that Diageo has awarded to cover its entire EMEA portfolio. JLL has traditionally advised the firm, however.
Diageo, which produces some of the world’s best known drinks brands, including Guinness, Smirnoff and Bailey’s Irish Cream, is planning to invest €153m (£128m) to redevelop the iconic St James’s Gate brewery in Dublin.
A new brewery on the north side of its campus will allow it to produce additional lagers, including Carlsberg and Budweiser.
No agent has yet been appointed to advise on the redevelopment, which will take place over the next two years.
CBRE has a history with Diageo. Last year, it moved into Diageo’s former offices at Henrietta House, W1. Diageo also previously occupied Kingsley House, W1, the agent’s former West End headquarters.
CBRE declined to comment.
james.buckley@estatesgazette.com
