ISPT and CBRE have announced a national partnership that leverages the combined power of both firms to drive tenant partner satisfaction and property performance. The partnership will see the consolidation of multiple incumbent agencies and services across all of ISPT’s wholly-owned properties, equating to more than 120 assets, including 51 retail centres in Australia.
ISPT appointed CBRE as its national partner following a comprehensive and competitive market tender.
Together, ISPT and CBRE will deliver comprehensive property management services, including building operations, property accounting, experience services, procurement services and technology enablement – streamlining efficiencies and creating a superior experience for tenant partners.
“This partnership is all about delivering market-leading performance at pace and we see huge opportunities across marketing, tenant care programs, procurement benefits and customer insights, which ultimately will lead to a better experience for our tenant partners and outcomes for our investors,” said ISPT Head of Property, Amanda Steele.
“Another key focus of the partnership, representing an industry first, will be the adoption of a precinct approach to ISPT’s national portfolio rather than the traditional asset-by-asset view. This will drive innovation and workflow improvements across the portfolio,” said Steele.
The Strand Melbourne
Under the partnership, CBRE has also committed to a newly created charitable fund, through which 1% of the gross revenue will be solely dedicated to creating better property outcomes for those that need it the most in and around the communities where ISPT has a presence.
It is the latest win for CBRE’s global Investor Portfolio Management business, leveraging the scale, agility, resources and purchasing power of CBRE, as well as its deep experience with operating large property portfolios.
“We are thrilled that ISPT has chosen us as their partner, which we believe will set a new property management standard in the marketplace. We are well positioned to help ISPT deliver exceptional experiences for their tenant partners and further drive overall value creation for its Australian property portfolio,” said Natalie Slessor, Pacific Executive Managing Director, Property Management for CBRE.
“Through the charitable fund, we’ll also have the opportunity to invest in new ideas and projects in affordable real estate, be it housing, retail, industrial or workplace. This is a sector first, which aligns with ISPT’s commitment to equity in prosperity,” Slessor said.
The transition will take effect from 1 July 2024.
