Transport for London’s (TfL) wholly-owned commercial property company has appointed Catella APAM (APAM) as asset management advisor and delivery partner.
The real estate asset manager will aim to support TfL’s mixed-use portfolio, which includes retail and commercial spaces.
TfL has previously set out its strategy to invest in its current assets to focus on long-term income, improved sustainability, and a better customer experience.
The appointment follows an initial phase of work in which APAM reviewed TfL’s existing capabilities and operations within its asset management team.
APAM will now look to conduct an analysis of TfL’s asset base to identify opportunities for improved customer and tenant offerings and better sustainability credentials, while looking for ways TfL can generate more long-term revenue.
Daniel Lovatt, director of asset management at TfL’s commercial property arm, 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.”