Cushman & Wakefield has lost a key contract as a result of a conflict of interest resulting from the company’s merger with DTZ.
C&W has lost the property and facilities management contract for the Crown Estate’s and Norges Bank Investment Management’s Regent Street Partnership portfolio.
The conflict arose because the company also values the portfolio. JLL has been awarded the five-year management contract.
David Shaw, head of the Regent Street portfolio at The Crown Estate, said: “Cushman & Wakefield has successfully managed Regent Street Management Direct since 2004 and I am grateful for its significant contribution to the success of Regent Street over the past 11 years; key to this has been RSMD’s customer-focused approach to maintaining relationships with our occupiers.”
