Henderson and Grosvenor In Talks With Simon Over Joint Bulk Buying Venture

LONDON-Henderson Global Investors and Grosvenor are in talks aiming to bring Simon Property Group of the USA into Tecient, their retail consultancy venture. Tecient was set up to provide products, services and content to buildings, and is managed by Corpnex, the property services company run by ex-Stanhope executive Vincent Wang.

The ability to buy services like facility maintenance, security, advertising and sponsorship in bulk is key to Tecient’s success, and by bringing the Simon portfolio on board the company believes it could aggregate the buying power of as many as 400 malls representing 240 million sf with an annual footfall of 3.4 billion people.

In a statement the partners said: ‘Simon Property Group’s portfolio size and proficient knowledge of the shopping centre and retail industry, along with their affiliated companies, Simon Business Network and Simon Brand Ventures would bring critical mass and a large measure of expertise to Tecient’s retail growth strategy.