MK2 DOUBLES ASSETS UNDER MANAGEMENT WITH MIDCOUNTIES CO-OP MANDATE

Midcounties Co-operative has appointed MK2 Real Estate to manage a portfolio of 120 properties. 

The non-trade portfolio, which largely comprises retail units, stretches from Shrewsbury to Reading. The properties are let to more than 200 tenants, with a rent roll of circa £2 million. 

MK2 will provide a full property management service, including rent collection, service charge management, facilities management and management of voids. 

The firm won the three-year contract from incumbent agents Rapleys, Pennycuick Collins and Johnson Fellows. 

MK2’s property management team employs 22 people, with more than £1 billion of assets under management, 330 properties and 1,500 tenants on its roster.

Marcello Della Croce, director and head of the property management team, said: “This is a significant win for the team. As our largest portfolio instruction, it has more than doubled the total number of properties we currently manage. 

“We’re thrilled to add Midcounties Co-op to our client list and look forward to working with them over the next three years.”