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Severn Trent confirms 7,000 site management deal

31 March 2016

A contract for the management, promotion and disposal of Severn Trent's UK portfolio of more than 7,000 sites has been agreed with Capita Real Estate.

With a base value of £8m, the eight year contract includes a range of potential variable fees and additional income from gainshare agreements on specific high profile sites.

Severn Trent has embarked on a programme to maximise its income from its property portfolio to generate "significant capital return from a large number of sites which are no longer required for its operations", according to Capita.

The range of sites includes a diverse mix of facilities including large waste water treatment plant, office blocks and small pumping stations.

Severn Trent has appointed Capita as a property management consultant, which will co-develop a programme to maximise asset value.

Capita states that it is working closely with Severn Trent to identify and categorise the company's existing redundant assets, bringing in Carter Jonas to support with rural estate management and sales.

Sites will be sold by private treaty or at auction, with Capita also considering planning consent for specific sites where applicable to add value.

The company will also act as development manager on "a small number of more strategic sites", again where this will deliver extra value.

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