Coats Ltd, the world’s largest manufacturer of industrial sewing thread and consumer needlecraft products, has selected Cushman & Wakefield Healey & Baker (C&W/H&B) to provide strategic, transactional and consultancy services across its global real estate portfolio.
Coats’ real estate portfolio extends to circa. 20 million sq ft/two million square metres in 67 countries spanning Continental Europe, North and South America, and Asia. Comprising both freehold and leasehold interests, the operational and surplus properties are made up of manufacturing plants, offices, warehouses and residential.
C&W/H&B’s role will be to optimise the value and efficiencies of the portfolio through provision of a centrally co-ordinated source of real estate services. A London-based team of C&W/H&B experts will work closely with Coats to co-ordinate a comprehensive range of services including strategic review and advice, financial analysis, lease audit, transactions and valuation.
C&W/H&B was selected for the contract following a competitive pitch process.
Chris Mercer, group property manager at Coats Ltd said: “Working with Cushman & Wakefield will help us achieve real value from our property portfolio.”
Clive Bull, who led the C&W/H&B team said: “Working closely with Coats, our aim is to get its property strategy aligned with the business plan and we expect that the potential for unlocking value and improving efficiencies in the portfolio could be significant.”
Source: Cushman & Wakefield