Contract supports long-term growth strategy for Manchester
DALLAS--(BUSINESS WIRE)--
Jacobs
Engineering Group Inc. (NYSE:JEC) has been awarded a five-year
contract by Manchester
City Council (MCC) in the U.K. to provide property management and
professional services. The contract will support MCC’s growth strategy
for Manchester, which aims to establish the city as a world-class,
vibrant, economic and cultural center. It will be overseen by MCC’s
Strategic Development Directorate, set up to help drive sustainable
economic growth and transformation of the city.
Managed from Jacobs’ Manchester office, the key objective of the
contract is to help generate important revenue through rental income,
capital appreciation and capital receipts, ultimately used by MCC to
deliver services to the community. Jacobs’ services include management
of MCC’s investment estate for efficient operation; professional and
technical work such as asset valuations, acquisitions, disposals and
investment reports; and rent reviews, leases and associated support.
Jacobs will also contribute place-making and regeneration
recommendations; strategies for planned preventative maintenance to
increase lettability and improve tenant retention; high-quality rating
advice; and access to planning, remediation and infrastructure services.
The five-year term has an option for a two-year extension.
“We look forward to continuing to work closely with Manchester City
Council and its Strategic Development Directorate, discovering ways to
help deliver key objectives for its property portfolio more
efficiently,” said Jacobs Senior Vice President Buildings and
Infrastructure Bob Duff. “We have a thorough understanding of MCC’s
portfolio, and this contract represents an important step in supporting
the city’s efforts to generate critical income.”
“Jacobs submitted a high quality and competitive tender, and we are
looking forward to developing our relationship with their team in what
will be an exciting but challenging period for the Council,” said
Gillian Boyle, Manchester City Council’s Principal Development Surveyor.
Jacobs works on major infrastructure projects in roads, rail, water and
aviation, as well as sectors such as oil and gas, refining, chemicals,
pharmaceuticals, power, nuclear, defence and buildings. Jacobs employs
some of the most experienced technical and professional services
practitioners in the U.K. and has grown to more than 7,000 people at
locations across the country. The company has more than 900 graduates,
technicians and apprentices currently training in the U.K.
Jacobs is one of the world’s largest and most diverse providers of
full-spectrum technical, professional and construction services for
industrial, commercial and government organizations globally. The
company employs over 54,000 people and operates in more than 25
countries around the world. For more information, visit www.jacobs.com.
Statements made in this release that are not based on historical fact
are forward-looking statements. We base these forward-looking statements
on management’s current estimates and expectations as well as currently
available competitive, financial and economic data. Forward-looking
statements, however, are inherently uncertain. There are a variety of
factors that could cause business results to differ materially from our
forward-looking statements. For a description of some of the factors
which may occur that could cause actual results to differ from our
forward-looking statements please refer to our Form 10-K for the year
ended September 30, 2016, and in particular the discussions contained
under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and
7 - Management's Discussion and Analysis of Financial Condition and
Results of Operations. We do not undertake to update any forward-looking
statements made herein.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170215005065/en/
Source: Jacobs Engineering Group Inc.