Redical, the real estate owner and operator launched by Mikko Syrjanen and Petteri Barman, has announced the appointment of Savills as property manager across its entire portfolio of core UK retail and leisure destinations and Savills Sustainability consultancy to support in delivery of its ambitious ESG goals.
Savills primary role as property manager will be implementing Redical’s transformative approach to drive the evolution and elevation of each asset forward, establishing destinations that out-perform the market and benefit all stakeholders. Comprising three core assets of Victoria Leeds; The Liberty Romford; and Clayton Square Liverpool, Redical’s portfolio totals almost 1.2m sq ft of retail, F&B and leisure and have a combined annual footfall of 32m. Savills will spearhead the property management of each destination to deliver enhanced asset performance and support Redical’s wider transformation strategy. Key roles will include rent and turnover collection, tenant engagement, service charge management, retail delivery and supervision of on-site staff.
Commenting on the new appointment, Mikko Syrjanen, co-founder of Redical, said: “Our belief is that significant enhancements to commercial performance and value, can be achieved through a process we describe as transformation through accumulation – making a number of smaller, but no less significant, changes and enhancements to our core assets that together drive improved performance. As property manager experts, Savills will play a fundamental role in implementing and managing these transformative changes and aiding the elevation of our core assets.”
Redical’s appointment of Savills Sustainability consultancy is focused on building an ESG-specific strategy for the company, with input from a range of critical internal and external stakeholders. The strategy will provide a robust foundation for future decision making on sustainability and will set Redical on an improvement trajectory for its GRESB scoring. Through this new partnership with Savills Sustainability, Redical are accelerating their work to support the transition to a greener future and to influence more sustainable outcomes.
Brad Johnson, director of Sustainability at Savills ,commented: “The development of an ESG specific strategy and roadmap demonstrates Redical’s broader approach and long-term commitment to embedding sustainability into the heart of their business, influencing the way work is planned and delivered. This approach puts good governance, integrity, and accountability at the heart of Redical’s operations, and we look forwarded to working with such a forward-thinking organisation.”
Work is well underway for both the Savills Sustainability consultancy and Savills property management teams, the later having aided The Liberty Romford’s forthcoming roll out of its new brand identity, entranceways and wayfinding signages, as well as Leeds’ triumphant tenant activations including the recently sold-out Fashion Week, and, Clayton Squares’ enhanced commercialisation activity and diversification of uses from retail to leisure and food and beverage offerings.
