The UK’s Government Property Agency has appointed BNP Paribas Real Estate as its new strategic partner for national property and property-related financial services.
BNPPRE has initially been awarded a three-year contract but there is an option to extend the arrangement for up to four additional years. The Government Property Agency (GPA) provides a service to central government departments through the management of the integrated and shared estate of more than 700,000 sq m and works with commercial partners to deliver property strategies, asset management, property technology, facilities management and security services.
The GPA said in a statement that the contract is aligned to current and future needs and a key focus is on social value which it says includes including tackling economic inequality, fighting climate change and improving health and wellbeing.
Requirements include improving value for taxpayers by enhancing the condition of assets and improving sustainability performance as well as providing high quality data and reporting and improving corporate real estate management.
“The GPA has an incredibly compelling vision for the management of its estate with data and accurate financial reporting, along with delivering social value for the communities it impacts,” said BNPPRE head of property management, senior director Steve Harber.