WESTPAC Bank has appointed UGL to manage its Australian property and real estate portfolio.
UGL Services business has been contracted for an initial five years which can be extended to a total of nine years. The new agreement is in addition to property related works which UGL Services has been providing to Westpac and St George Banks in Australia for over four years.
UGL Services now manages over 865,000 sqm of space on behalf of Westpac.
Westpac said following its merger with St George Bank in 2008, it decided to integrate and outsource all its real estate and facilities management to an external partner.
“This is consistent with Westpac’s business strategy to support multiple brands and manage operational risk whilst adapting to market conditions,”
UGL’s CEO Richard Leupen said UGL Services has a successful track record in the financial services sector and this new partnership with Westpac confirms the group’s position as a market leader in outsourced property and BPO services.
Australian Property Journal
