Telereal Trillium

Telereal Trillium Ltd is a commercial property management, development and investment company, headquartered in central London.[1] The company is privately owned by the Bernard Pears 1967 Trust and its management. Preference shares are held by the William Pears Group and management.[2] Telereal Trillium was contracted by the Department for Work and Pensions to manage job centres and other buildings through March 2018.[3]

Telereal Trillum
TypePrivate company
IndustryProperty, Investment
Founded1997
HeadquartersLondon, England
Key people
Russell Gurnhill (CEO)
Productsproperty management, Property investment, Property development
Number of employees
270 (2017)
ParentB Pears Trust
Websitetelerealtrillium.com

It also entered a 20 year contract to manage property used by the DVLA beginning in April 2005.[4] Telereal Trillium bought Network Rail's arches portfolio in joint venture with Blackstone Property Partners for £1.46bn in 2018.[5]

History

Trillium was formed in 1997,[6] to acquire the 1,500,000 square metres (16,000,000 sq ft) property portfolio of the Department for Work and Pensions, which it did in 1998.[7] Acquired by Land Securities in 2000, the company was renamed Land Securities Trillium.[6]

In 2001, the 50/50 joint-venture company Telereal was established with William Pears Ltd, to acquire the property portfolio of British Telecom for £2.3Bn.[8][9]

In 2002, Telereal began managing the property portfolios of O2[10] and Airwave. In 2004, Trillium signed property management agreements with Norwich Union and Barclays Bank. After Pears bought the remaining 50% interest in Telereal in 2005, the company completed the purchase of the property portfolio of the DVLA under a 20-year deal.[7][6]

In 2008, Trillium signed deals to manage the property portfolios of the Royal Mail and Birmingham City Council. It then bought the project management division of AMEC, and then bought the office and branch properties of the Royal Bank of Scotland in partnership with the Prudential plc Investment Management.[7] In 2009, after selling Aviva's Norwich headquarters for £134 million, Land Securities sold Trillium (excluding the Accor Hotels portfolio), to Telereal for £750 million, to form Telereal Trillium.[11][12][13][7] The group then sold its 10% stake in the £1.3 billion Trillium Investment Partners fund, which invested in public-private partnerships covering at that point 108 assets including University College Hospital, London, to existing investors in the fund, which then renamed itself Semperian.[14]

In January 2010, the company placed the majority of the Royal Bank of Scotland assets it owned up for sale, for a sum of £475 million.[15] In November 2010, the UK Government revealed that Telereal Trillium was one of the top private companies in receipt of government spending, with a total annual expenditure of £284 million on property services.[16]

Corporate affairs

Telereal Trillium owns more than 12,000 properties in the U.K. and is valued at more than £8 billion. As of 2018, Telereal Trillium holdings portfolio has a total floor area of 79 million square feet.[17] The company's holdings have ranged from London landmark buildings to residential developments.[18]

References
  1. "Company Details". The Sunday Times. 2017. Retrieved 4 December 2017.
  2. "Telereal Trillium's shareholders". Telereal Trillium. Retrieved 4 December 2017.
  3. Dan Bloom (26 January 2017). "Plan to close scores of Jobcentres across britain announced - is yours affected?". Mirror. Retrieved 4 December 2017.
  4. "DVLA's annual report and accounts 2015 to 2016". Gov.uk. 19 July 2016. Retrieved 4 December 2017.
  5. "News | Telereal Trillium". www.telerealtrillium.com. Retrieved 2019-07-02.
  6. "About Us - History". Telereal Trillium Ltd. Retrieved 2010-12-03.
  7. Nick Johnstone (20 October 2010). "My Spending Review: Ian Ellis, Telereal Trillium". publicpropertyuk.com. Retrieved 2010-12-03.
  8. James Quinn (12 June 2011). "Pears Family Comes out of the Property Shadows". The Telegraph. Retrieved 4 December 2017.
  9. "BT hires demerger specialist". BBC News. 13 June 2001. Retrieved 2010-12-03.
  10. "O2 stays engaged with Telereal". Property Week. 25 April 2008. Retrieved 4 December 2017.
  11. "Trillium Sale". Land Securities. 8 January 2009. Retrieved 2010-12-03.
  12. Nick Goodway (8 January 2009). "Telereal snaps up Land's Trillium for 'bargain' £750m swoop". thisislondon.co.uk. Retrieved 2010-12-03.
  13. "Land Securities sells Trillium to Telereal for £750m". The Telegraph. 8 January 2009. Retrieved 2010-12-03.
  14. Jennifer Rigby (5 January 2010). "Merged giant sells stake in PFI and PPP fund to focus on property". propertyweek.com. Retrieved 2010-12-03.
  15. Jennifer Rigby (5 January 2010). "Telereal Trillium to sell £475m RBS portfolio". propertyweek.com. Retrieved 2010-12-03.
  16. "On the government payroll". BBC News. 19 November 2010. Retrieved 2010-12-03.
  17. "About Us | Telereal Trillium". www.telerealtrillium.com. Retrieved 2019-07-02.
  18. "Top Track 100: Telereal Trillium". The Sunday Times. 2012. Retrieved 16 April 2018.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.