Oil giant Shell has awarded Jones Lang LaSalle the contract to look after its real estate portfolio across Europe, the Middle East and Africa.
The contract will run for an initial three-year term, with the option to extend for a further two years. It comprises project management services, real estate consultancy, brokerage, valuation and other professional services.
The Shell EMEA portfolio consists of some 4,000 leased and owned assets including commercial, industrial, residential, agricultural land, former operational land, leisure and hotel facilities, operational plants and depots with supporting infrastructure (such as pipelines). The mandate does not include Shell’s retail portfolio.
Shell Real Estate’s regional manager for EMEA Jason Peckmore said: “We are delighted to be able to appoint Jones Lang LaSalle off the back of an incredibly strong bid demonstrating unparalleled strength and depth across the region and across all of our required areas of operation. We are looking forward to working with JLL across a range of challenges and opportunities we see in our portfolio across the next few years.”
Alasdair Vaux, European director in JLL’s EMEA corporate solutions team, added: “This mandate is a huge win for our EMEA business and is the final piece of the regional jigsaw in terms of our global relationship with Shell – complementing our already existing contracts in Asia and the Americas. It underpins our core business strategies and positions Shell as a truly global Corporate Solutions client.”
Cushman & Wakefield will provide services as a secondary provider in the outsourcing agreement.
The business was won in a competitive tender with DTZ, Cushman & Wakefield and CBRE all bidding for the contract. CBRE will retain their existing instruction in connection with the redevelopment of the Shell Centre in London and separate responsibility for Shell’s retail portfolio.
