Workman extends appointment by abrdn to Border to Coast UK Real Estate portfolio

Commercial property management and building consultancy firm Workman LLP, has extended its appointment by abrdn as investment advisor and Asset Manager to the Border to Coast UK Real Estate for a further five years.

Workman was originally appointed by abrdn in 2012, since when the mandate has grown to 276 assets and an annual rent roll of £245m. As part of the competitive tender process, Workman has also been appointed to the Border to Coast mixed portfolio

Gavin Halliday, Partner at Workman, said: “Having worked with abrdn for more than 10 years, we are delighted to further extend our existing relationship. The addition of the Border to Coast portfolio following abrdn’s recent appointment, is testament to the hard work of our team and their focus on delivering an occupier centric approach to managing the portfolio.”

Border to Coast Pensions Partnership (‘Border to Coast’) is the largest Local Government Pension Scheme pool in the UK, responsible for managing and overseeing £52.3bn of its LGPS Partner Fund assets. The launch of its directly managed UK Real Estate proposition in September 2024 marks a significant expansion in capabilities and the investment opportunities available to its 11 LGPS Partner Funds. It demonstrates the benefits of scale, innovation and expertise gained through the Border to Coast partnership.

Simon Moscow, Real Estate Chief Operating Officer, at abrdn, said: “We are delighted to further extend the scope of Workman’s appointment following a thorough and competitive tender process.  We look forward to working with the Workman team to successfully growing the Border to Coast direct real estate portfolio in the future.”

Added Alistair Smith, Head of Real Estate, Border to Coast Pensions Partnership: “We look to build strong relationships with high capability external partners who can support us in delivering the benefits of scale, innovation and expertise to our Partner Funds, and ultimately improve outcomes for more than 1.1 million LGPS beneficiaries. We look forward to working with abrdn and Workman to ensure we hit the ground running following the launch of our direct UK Real Estate proposition on the 1^st of October 2024.”