BANKING giant Barclays yesterday announced it has hired new property advisers to manage its global 45m square feet estate.
CBRE has been selected as the preferred bidder to take control of the management of Barclays’ properties in UK and Europe, replacing DTZ’s current mandate which just covers the UK.
The global property services group will also oversee the bank’s global leasing database.
Jones Lang LaSalle meanwhile has been hired to take charge of the management of Barclays’ portfolio in the US, Asia Pacific and the Middle East.
The contracts will run for three years with options to extend covering Barclays’ investment, corporate and retail portfolios.
They will cover everything from lease advice, transactions, ratings and rent reviews, Barclays said.
The reshuffle is part of a move by the bank to keep a tighter rein on costs. The bank said the move will also allow it “to cope with volatile market environments” .