Redical appoints adviser for sustainability drive

Shopping centre investor Redical has appointed Savills as property manager across its entire portfolio of core UK retail and leisure destinations and Savills Sustainability to support the delivery of the group’s ESG goals.  Savills primary role as property manager will be implementing Redical’s transformative approach to drive the evolution and elevation of each asset, establishing destinations that outperform the market and benefit all stakeholders. Comprising three core assets of Victoria Leeds; The Liberty, Romford; and Clayton Square in Liverpool, Redical’s portfolio totals almost 1.2m sq ft of retail, F&B and leisure and has a combined annual footfall of 32m. Savills will be tasked with delivering enhanced asset performance and supporting 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.  Redical co-founder Mikko Syrjanen 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.” He added: “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 is focused on building an ESG-specific strategy for the company, with input from a range of internal and external stakeholders. The firm said the strategy would provide a robust foundation for future decision making on sustainability, will set it on an improvement trajectory for its GRESB scoring and would “support the transition to a greener future and to influence more sustainable outcomes”.  “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,” said Brad Johnson, director of sustainability at Savills. “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.” Photo by Andrew McCaren/LNP/REX/Shutterstock