Transport for London has retained Cushman & Wakefield as its letting advisor and agent across its retail portfolio.
Over the past four years, the team of the property consultancy, led by Justin Taylor and Victoria Davies, has developed and implemented a retail vison and strategy for Transport for London (TfL), which has one of the largest retail footprints in London. The strategy aims at helping TfL to maximise commercial opportunities by ensuring the retail offer matches consumer demand.
Cushman & Wakefield has also provided TfL with a range of other property services, such as advice on engagement with retailers as well as the physical layout of shop space. The work has, according to a spokesperson of Cushman & Wakefield, helped drive income and enhance value across the TfL portfolio.
On the back of the successful collaboration, Transport for London has renewed its contract with the property advisor. Commenting on the contract, Justin Taylor, Cushman & Wakefield’s Head of UK Retail, says he is “very pleased” to be able to continue its work for TfL, adding “Their business has distinct retail challenges in terms of spatial constraints as well as high customer footfall but low dwell-time. Therefore it is very important the right retail mix is in place for them to capture and increase footfall which in term drives revenues.”