Lambert Smith Hampton has been appointed to advise on the Royal Borough of Kensington and Chelsea’s £800m property portfolio. It is the first time the council has appointed a single agent to look after its estate.
The five-year contract is expected to provide fees close to £1m over its duration and will see LSH review the council’s assets to seek cost savings.
The estate extends to about 500 buildings, including Chelsea and Kensington town halls, plus parks, schools, museums, depots and a number of shops.
LSH saw off competition from Drivers Jonas Deloitte and Jones Lang LaSalle for the contract.
joanna.bourke@estatesgazette.com
