National Grid has appointed BNP Paribas Real Estate to manage and sell its surplus property portfolio.
The circa 350 industrial sites have the potential for more than 2,500 acres of development.
BNP Paribas Real Estate’s three-year contract will complement an existing joint venture on larger developments in the portfolio.
Mitie has partnered with BNP PRE to provide direct facilities management services such as security and landscaping.
Richard Alden, head of National Grid property at National Grid, said: “National Grid has seized the opportunity to find a better way to contract these services, seeking innovative solutions to reduce our risk and drive efficiencies.
“BNP Paribas Real Estate’s innovative ideas have already added value during the transition process.”
Paul Abrey, executive director at BNP Paribas Real Estate, said: “We are pleased to have completed the intensive mobilisation process, ahead of the scheduled go-live date.
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