Telereal Trillium Ltd is a commercial property

Commercial property

The term commercial property refers to buildings or land intended to generate a profit, either from capital gain or rental income.-Definition:...

 management and investment company, headquartered in central London

London

London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...

. It is wholly owned by the Pears family, via the William Pears Group and family trust-based holdings.

History

Trillium was formed in 1997, to acquire the 1500000 square metres (1,793,985.1 sq yd) property portfolio of the Department of Work and Pensions, which it did in 1998. Acquired by Land Securities in 2000, the company was renamed Land Securities Trillium.

In 2000, the 50/50 joint-venture company Telereal was established with William Pears Ltd, to acquire the property portfolio of British Telecom for £2.1Bn. Trillium itself bought the property portfolio of the BBC

BBC

The British Broadcasting Corporation is a British public service broadcaster. Its headquarters is at Broadcasting House in the City of Westminster, London. It is the largest broadcaster in the world, with about 23,000 staff...

 in the same year. In 2002, Telereal began managing the property portfolios of O2

O2 (United Kingdom)

Telefónica UK Limited is a telecommunications, internet and financial services provider in the United Kingdom owned by Telefónica, forming part of its Telefónica Europe division...

 and Airwave

Airwave (communications network)

The Airwave network is a mobile communications network dedicated for the use by the emergency services in the United Kingdom. Designed to be both secure and resilient it allows multiple agencies integrated communications through a nationwide network. It is a secure digital, encrypted network and...

. In 2004 Trillum signed property management agreements with Norwich Union

Norwich Union

Norwich Union was the name given to insurance company Aviva's British arm before June 2009. It was originally established in 1797. It is the biggest life insurance provider in the United Kingdom, and has a strong position in motor insurance...

 and Barclays Bank. After William Pears bought Trillium out of the JV company Telereal in 2005, Trillium completed the purchase of the property portfolio of the DVLA under a 20 year deal.

In 2008, Trillium signed deals to manage the property portfolio's of the Royal Mail

Royal Mail

Royal Mail is the government-owned postal service in the United Kingdom. Royal Mail Holdings plc owns Royal Mail Group Limited, which in turn operates the brands Royal Mail and Parcelforce Worldwide...

 and Birmingham City Council

Birmingham City Council

The Birmingham City Council is the body responsible for the governance of the City of Birmingham in England, which has been a metropolitan district since 1974. It is the most populated local authority in the United Kingdom with, following a reorganisation of boundaries in June 2004, 120 Birmingham...

. It then bought the project management division of AMEC

AMEC

AMEC plc is a global consultancy, engineering and project management company headquartered in London, United Kingdom. It is focused on the oil and gas, minerals and metals, renewable energy, environment and infrastructure sectors and has offices in 40 countries worldwide...

, and then bought the office and branch properties of the Royal Bank of Scotland

Royal Bank of Scotland

The Royal Bank of Scotland Group is a British banking and insurance holding company in which the UK Government holds an 84% stake. This stake is held and managed through UK Financial Investments Limited, whose voting rights are limited to 75% in order for the bank to retain its listing on the...

 in partnership with the Prudential plc

Prudential plc

Prudential plc is a multinational financial services company headquartered in London, United Kingdom.Prudential's largest division is Prudential Corporation Asia, which has over 15 million customers across 13 Asian markets and is a top-three provider of life insurance in mainland China, Hong...

 Investment Management

Investment management

Investment management is the professional management of various securities and assets in order to meet specified investment goals for the benefit of the investors...

.

Present

In 2009, after selling Aviva

Aviva

Aviva plc is a global insurance company headquartered in London, United Kingdom. It is the sixth-largest insurance company in the world measured by net premium income and has 53 million customers in 28 countries...

's Norwich

Norwich

Norwich is a city in England. It is the regional administrative centre and county town of Norfolk. During the 11th century, Norwich was the largest city in England after London, and one of the most important places in the kingdom...

 headquarters for £134m, Land Securities sold Trillium (excluding the Accor Hotels portfolio), to Telereal for £750M, to form Telereal Trillium. The group then sold its 10% stake in the £1.3bn Trillium Investment Partners fund, which invested in public-private partnership

Public-private partnership

Public–private partnership describes a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies...

s covering at that point 108 assets including University College Hospital

University College Hospital

University College Hospital is a teaching hospital located in London, United Kingdom. It is part of the University College London Hospitals NHS Foundation Trust and is closely associated with University College London ....

, London, to existing investors in the fund, which then renamed itself Semperian.

In January 2010, the company placed the majority of the RBoS assets it owned up for sale, for a sum of £475M. In November 2010, the UK Government revealed that Telereal Trillium was one of the top private companies in receipt of government spending, with a total annual expenditure of £284M on property services. The company was the biggest cost outlay supplier to the Department of Work and Pensions.