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Case Study

JLL was awarded a three year mandate by Aviva Investors to manage the Irish Portfolio

​​​​​​​​​After a competitive tendering process JLL was awarded a three year mandate by Aviva Investors to manage the Irish Portfolio on behalf of a number of internal Funds.  This mandate has subsequently been renewed emphasising the performance of the Asset Management Team and the trust that has been earned by delivering a quality service.​​​

The portfolio originally extended to over 45 properties, more than 100 tenants and in excess of 1.39m sq.ft. It was spread throughout Ireland and had a vacancy rate of 20%. 

There were multiple service providers offering differing levels of service to the Funds and on JLL's recommendation these services were tendered to obtain a competitive level of fees and a consistent service among a fewer number of suppliers.  The reporting structure was also tightened to adhere to Aviva Investors' new standards.  There are weekly debtor reviews with the managing agents and bi-weekly portfolio reviews to ensure that the income is protected and that any potential issues are identified well in advance to facilitate an action plan being put in place.

The JLL team have overseen 40 lettings by third party agents, identified and co-ordinated, in conjunction with Aviva Investors, 6 refurbishments and upgrades to assets that have facilitated increased rental returns.  The vacancy rate of the portfolio now stands at approximately 1%. ​

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