ICL is negotiating the outsourcing of its £800m UK property portfolio to Integrated Workspace Solutions (IWS), a new consortium.
It will be the UK’s first project of its kind in the private sector if it goes ahead and is expected to trigger similar moves by UK companies.
ICL would sell its freehold and leasehold properties to the consortium under the deal. IWS would provide facilities management for the sites ICL wants to occupy and redevelop those the business wants to vacate. The consortium comprises Comax, Deutsche Bank and Regus.
Financial Times 02/07/99 page 19
