Catella APAM (“APAM”), the specialist UK & Ireland real estate asset manager, has been appointed by Transport for London’s (“TfL”) wholly owned commercial property company, as its asset management advisor and delivery partner. This follows on from an initial phase of work that saw APAM review the existing capabilities and operations within TTLP’s asset management team.
This subsequent appointment will see APAM support TfL, as it looks to improve and grow its mixed use vast real estate portfolio, such as its retail and commercial spaces. TfL’s strategy has set out its ambitions to invest in its current asset base, focusing on areas that will not only generate long-term income, but also improve sustainability as well as provide a better customer experience and improved ambience for a wide range of transport hubs.
Initially, the contract will see APAM help TfL’s wholly owned commercial property company to understand and realise the full potential of its current asset base, through conducting analysis of a range of its assets to learn more about their current and future capabilities. APAM will help identify where there might be opportunities to provide an improved offering for customers and tenants and improve the sustainability of the portfolio, while generating long-term revenue for TfL that can then be reinvested.
APAM will also share best practice when it comes to asset management and driving value-adding initiatives within the retail portfolio. By working with TfL on some of its key sites located around the transport network, the ambition is that the strategic asset management practices will be put in place – with clear results – before then being applied across the wider estate in the future, enabling long-term benefits.
Simon Cooke, Founding Director of Catella APAM, said: “We are focussed on supporting TfL, so that it can deliver increased value and growth by unlocking the full potential of its real estate portfolio. With customers continuing to return to the transport network as they experience everything the capital has to offer, we are excited by the opportunity to play our part – working with TfL – to make the capital even more welcoming as a destination.”
Daniel Lovatt, Director of Asset Management at TfL’s wholly owned commercial property company, said: “As one of the largest landowners in London, we are committed to creating well-connected, safe and sustainable places that people want to live near, travel to and visit. As part of this, we are excited to continue working with APAM as we unlock the long-term value of our diverse real estate portfolio, which ranges from small retail businesses to commercial offices. By focusing on areas that can offer the most opportunity, in collaboration with APAM, we can generate sustainable revenue that can be reinvested across the estate and make a positive difference to the capital.”
