Victoria Leeds owner Redical – which was launched in 2020 by property investors Mikko Syrjanen and Petteri Barman – has announced Savills as its property manager and sustainability consultant in the UK.
Savills will manage Redical’s UK retail and leisure estate, which also includes The Liberty Romford and Clayton Square in Liverpool, and the Savills Sustainability consultancy will help support the new property company’s environmental, sustainability and governance (ESG) strategy.
The primary role for Savills will be to implement Redical’s approach to elevate the experience at each location, with the aim to establish destinations that out-perform the market and benefit all stakeholders. The property portfolio totals almost 1.2m sq ft of retail, food and beverage, and leisure space, generating a combined annual footfall of 32 million.
Key roles will include rent and turnover collection, tenant engagement, service charge management, retail delivery and supervision of on-site staff. Redical’s appointment of Savills Sustainability aims to provide “a robust foundation for future decision making on sustainability” and will help meet criteria set by GRESB, a Netherlands-based company that assesses the sustainability performance of real estate.
Brad Johnson, director of sustainability at Savills, remarked: “The development of an ESG-specific strategy and roadmap demonstrates Redical’s broader approach and long-term commitment to embedding sustainability into the heart of their business, influencing the way work is planned and delivered.
“This approach puts good governance, integrity, and accountability at the heart of Redical’s operations, and we look forwarded to working with such a forward-thinking organisation.”
Commenting on Savills’ involvement, Syrjanen commented: “Our belief is that significant enhancements to commercial performance and value, can be achieved through a process we describe as ‘transformation through accumulation’ – making a number of smaller, but no less significant, changes and enhancements to our core assets that together drive improved performance.
“As property manager experts, Savills will play a fundamental role in implementing and managing these transformative changes and aiding the elevation of our core assets.”
Redical said work is well under way with Savills on both fronts, and will be visible in The Liberty Romford’s forthcoming roll out of a new brand identity, entranceways, and wayfinding signage.
Read more about sustainability in retail property on Green Retail World
[image credit: Green Retail World]
