News

DTZ Investors has been appointed by Basildon Council to advise on the creation of a new portfolio as part of its Commercial Asset Acquisition Strategy.

The new portfolio will be used to generate income to fund Council services.

DTZ Investors’ role will be to develop and implement an investment strategy, provide asset management services and execute transactions on an advisory basis. Investment will be focussed on multi-let assets in major urban centres.

Cllr Gary Canham, chairman of Basildon Council’s commercial and strategic asset acquisition sub-committee, said: “By investing in commercial property Basildon Council hopes to generate new income to offset the reductions in central Government funding. With research into local authority asset acquisition strategies showing that appointing a specialist property fund management advisor significantly reduces the risks involved.

“DTZ Investors were recommended to the committee based on their success in a scoring matrix and presentations made to Basildon Council. With its team of investment professionals currently managing more than €9bn worth of assets across UK and Northern Europe I am sure DTZ Investors will prove vital in helping the council make a sound financial return.”

Sam Brice, from DTZ Investors, added: “We are delighted that the Council has chosen to appoint DTZ Investors having identified the benefit of implementing its investment strategy through an independent fund management platform.

“We believe that this model of appointing specialist fund management advisors will become increasingly common as the Government places greater scrutiny on Local Authority investment in the real estate sector.

“We look forward to working with Basildon Council on this exciting mandate and to contributing to the Council’s wider objectives to create alternative sources of secure sustainable income.”