Cushman & Wakefield, the world’s largest privately-owned commercial real estate services firm, has won the retail property management mandate at London’s iconic Old Spitalfields Market.
Specifically, US property group Ashkenazy Acquisition Corporation and UK-based Tribeca Holdings, which jointly bought Old Spitalfields Market last year in the largest London retail investment deal of 2013, have appointed Cushman & Wakefield’s UK Retail Property & Asset Management team for the high profile instruction.
Cushman & Wakefield is also the leasing agent at the marketplace following the appointment last year of the firm’s central London retail team.
Old Spitalfields Market is a prestigious retail asset that has a history that stretches back centuries. The new owners are ensuring that the long term future of the property continues to not only fit in with the changing local environment of east London but remains a relevant retail destination that attracts visitors from all over the world.
Richard Davies, head of EMEA Retail Property & Asset Management at Cushman & Wakefield, said: “We are excited to be instructed together with our retail leasing team at one of London’s most iconic retail spaces and to help our client in re-establishing the marketplace as a vibrant retail and leisure destination in the heart of the City.”
Cushman & Wakefield recently hired Carl Foreman from JLL to lead its UK Retail Property & Asset Management team. He joined the business in February this year to focus on building the team further and delivering excellence in retail property and asset management.