RAPLEYS APPOINTED TO MANAGE PARKS TRUST COMMERCIAL ESTATE

February 8, 2008

Property consultancy Rapleys LLP has landed the property management brief for The Parks Trust in Milton Keynes, taking responsibility for one of the UK’s most sustainable property portfolios. The Parks Trust is one of the city’s biggest landlords with over 200 tenants occupying around 500,000 sq ft of accommodation.

Rapleys’ three-year instruction will involve all aspects of asset management across The Parks Trust’s estate, which includes offices, industrial units, shops, surgeries, restaurants and a range of community facilities such as public houses and sports clubs.

Properties within The Parks Trust portfolio include retail centres, such as Neath Hill Local Centre, Willen Local Centre, industrial parks such as Regent Business Park and offices including Shenley Pavilions and Linford Forum. Tenants include a range of local businesses in addition to larger occupiers such as Consignia.

The instruction will be managed from Rapleys’ Huntingdon office, with a dedicated team serving all asset management needs across the portfolio.

Chris Moore, partner and head of Corporate Property Services at Rapleys, comments: “This is a challenging and exciting management brief, which will draw upon a wide range of skills across our team. It is also particularly gratifying to play a role in contributing to the preservation of the area’s parks and green spaces.”

The Parks Trust is an independent charity which was established to ensure the preservation and protection of Milton Keynes’ green spaces. To fund its work, the charity was endowed with a property and investment portfolio. Rental income from the Parks Trust properties goes directly towards maintaining and enhancing more than 4,500 acres of green space.

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