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.
