Published 12 September 2005
United Group Ltd subsidiary United KFPW has won the tender to provide asset & lease management for Westpac Banking Corp’s property portfolio from December.
The 5-year contract covers more than $A300 million of leases for 530,000mÂ² of Westpac space across 1630 commercial & retail properties.
Westpac’s general manager property, Lyn Lennard, said: “We re-tendered the contract after 5 years with our existing provider as our requirements had changed, in particular the consolidation of our premises, as well as developments in the property service market.
“With United managing property financial transactions worth over $7A billion/year, Westpac will benefit from the scale that United can provide as well as their well developed IT systems capability.”
United KFPW was previously a division of accountancy consultancy PricewaterhouseCoopers. It’s Australia’s largest provider of property services.