Procter & Gamble has appointed Cushman & Wakefield Healey & Baker to advise on the management of its 32m sq ft property portfolio in Europe, the Middle East and Africa. P&G, the largest consumer products group in the US, has a diverse portfolio including offices, warehouses, factories and research and development facilities across 100 locations.
The company’s UK headquarters is at Weybridge in Surrey, although it also has property holdings in Newcastle and Egham.
CWHB beat off stiff competition from CB Richard Ellis, Jones Lang LaSalle and Colliers CRE to clinch the instruction. The deal will be particularly disappointing from CBRE, which has advised P&G for the past three years, much of that time as CB Hillier Parker.
JLL will also be viewed as having missed out. Last June the company won a global facilities management contract with P&G across 60 countries and 35 markets in the US.
The P&G account will be run from CWHB’s Brussells office. However, it is understood that the contract will be overseen by Michael Creamer, CWHB’s Global Head of Corporate Services, who is based in the firm’s London office at Portman Square.
P&G, which declined to comment, is also looking for 350,000 sq ft of offices west of London. The requirement is part of a consolidation programme which will see staff from its Egham office move into new premises.
Source: Freeman News