Consortium appointed to review North Norfolk District Council’s property portfolio
A consortium led by property and construction consultancy Gleeds and supported by CPMG and Pygott & Crone, has been appointed under an innovative partnership to provide specialist advice regarding North Norfolk District Council’s property portfolio.
The appointment comes following the Council’s decision to adopt a more commercial approach to its current property portfolio with the aim of maximising returns (both revenue and capital) in order to improve its long term financial position, deliver economic growth and improve service delivery by allowing resources to be recycled into front line services.
Michael Davies, Gleeds director based in Nottingham, said: “We are delighted to be working with North Norfolk District Council. This project presents a unique opportunity to make a meaningful contribution to the region, and as such we have already made recommendations that support the Council’s service delivery and encourage further investment and regeneration across the area. We will continue to make these recommendations over the course of the partnership.”
The review, ranging from commercial properties through to administrative buildings, has already produced headline proposals for four sites and have discussed these at a range of public meetings in the local region. The review will continue to focus on the Council’s current assets which extend to approximately 181 properties.
CPMG, one of the largest architecture firms outside of London, will also be working with the consortium to assist the council with innovate design and architectural solutions.
Richard Flisher, director at CPMG, said: “This is a project with a huge amount of potential to make a real difference to the commercial future of North Norfolk. We are looking forward to developing ideas and designs that will make a difference across the area’s property portfolio.”
Pygott & Crone is to provide agency services, as well as undertaking a review of local market activity.
Tim Downing, director at Pygott & Crone, added: “The consortium represents a rare opportunity to work as a single force, with the sole focus of improving an area as broad as North Norfolk. We’re pleased to be part of the drive towards economic growth through the support of the local market.”
Cllr Judy Oliver, North Norfolk District Council Cabinet Member for Commercialisation, said: “By working with Gleeds, the Council can call on a vast range of commercial expertise to help us realise the greatest benefit from our assets. It’s the best of both worlds bringing together private sector acumen and public service ethos to benefit people in the district.”
“This appointment will help us adopt a more commercial approach, improve the council’s long-term financial position, support economic growth and improve public services.”
The contract was initially awarded in 2016 for one year with the option to extend by two further years. As a result of the positive early progress, the Council has engaged Gleeds in further works providing design and funding advice for future investment by the authority in two high profile leisure facilities in the District.