Corporate Real Estate Asset Management

by Haynes; Barry P.

• ISBN13: 9780728205734
• ISBN10: 0728205734
• Format: Nonspecific Binding
• Copyright: 2010-07-07
• Publisher: Estates Gazette

Summary

Real Estate is not only one of the most valuable assets for a business in terms of visual representation of the company, but also one of the most costly assets. It is therefore important for those studying and practising in Real Estate and Property Management to know how to minimise costs and maximise profit in order to manage these assets efficiently.Corporate Real Estate Management considers the commercial property market from the perspective of the business occupier, offering contemporary solutions to problems and innovative and inspiring added value action plans. It raises the awareness of how real estate can support the business, transform the workplace and impact upon people and productivity.For anybody beginning a career in Real Estate Management, this book considers the theory and concepts behind real estate asset management, whilst offering strategies and practical advice on how these should be implemented in a business context..Written from the perspective of the occupier to provide strategies to be used in practice, which illustrate theory to aid learning.International case studies from Helsinki, Hong Kong, and Prague give necessary insight for global business.Aligns Estates Management, Facilities Management, Asset Management and business strategy to offer a more rounded understanding for potential managers

Author Biography

Barry P Haynes PhD, MBA, MSc, BSc(Hons), MBIFM is a principal lecturer at Sheffield Hallam University and has been chief moderator for the British Institute of Facilities Management (BIFM) examinations. He has also been an examiner for Reading University's MSc in Facilities Management and the College of Estate Management's Post Graduate Certificate/Diploma in Facilities Management. Barry has been a guest editor for the Journal of Corporate Real Estate and is a member of the editorial advisory board. Nick Nunnington MBA, BSc(Hons), MRICS is a principal lecturer at Sheffield Hallam University, a visiting lecturer at the Hanzehogeschool in Groningen, The Netherlands, and an associate director of a Centre for Excellence in Teaching and Learning. He is the real estate co-ordinator for the Centre for Education in the Built Environment (CEBE) and an editorial board member of the Journal of Education in the Built Environment (JEBE). Nick is also a co-author for The Income Approach to Valuation.

Table of Contents

Preface	p. ix
Acknowledgements	p. xiii
The business environment	p. 1
Introduction	p. 1
Drivers, issues and trends	p. 1
Significant themes	p. 4
Multi-generational Workforce	p. 5
Strategic analysis tools	p. 12
Future scenarios	p. 19
Think the unthinkable	p. 27
Summary checklist	p. 28
References	p. 28
Strategic alignment	p. 31
Introduction	p. 31
An integrated approach: collapsing of boundaries	p. 31
Corporate strategy	p. 36
Adding value	p. 45
CREAM Strategic Alignment Model	p. 52
Summary checklist	p. 54
References	p. 54
Strategic real estate procurement options	p. 57
Introduction	p. 57
The freehold vs. leasehold debate	p. 57
The financial argument	p. 62
Getting the right balance of procurement	p. 64
Converting from freehold to leasehold	p. 69
Future implications for procurement options	p. 73
Beyond sale-and-leaseback: strategic alternatives to traditional freehold or leasehold procurement	p. 79
Summary checklist	p. 82
References	p. 83
Customer focused procurement options	p. 85
Introduction	p. 85
Changing expectations	p. 85
The financial argument to customer focused management	p. 89
Reducing lease length	p. 92
Code for Leasing Business Premises	p. 94
The RICS Service Charge Code	p. 97
The development of customer focused strategies in the UK	p. 99
Conclusion	p. 104
Summary checklist	p. 105
References	p. 105
Performance measurement and benchmarking	p. 107
Introduction	p. 107
Some definitions of benchmarking	p. 107
Benchmarking in practice	p. 110
The 'apples and pears' problem	p. 112
Criticisms of benchmarking	p. 115
Benchmarking in action 1	p. 118
Benchmarking in action 2	p. 121
Benchmarking in action 3	p. 126
Benchmarking in action 4	p. 130
Holistic real estate benchmarking in practice	p. 131
Benchmarking and CREAM strategy	p. 134
The Balanced Scorecard	p. 136
Conclusion	p. 139
Summary checklist	p. 139
References	p. 140
Workplace transformation	p. 141
Introduction	p. 141
Evolution of the workplace	p. 141
Changing nature of work	p. 145
Working in the office	p. 147
Working out of the office	p. 151
Working virtually	p. 152
Embedding performance and productivity	p. 153
Conclusion	p. 169
Summary checklist	p. 169
References	p. 170
Corporate relocation	p. 173
Introduction	p. 173
Strategic space planning alignment process	p. 173
Establishing organizational and business demand	p. 175
Briefing process	p. 187
Building and workplace supply	p. 188
Optimum alignment	p. 195
Summary checklist	p. 198
References	p. 198
Sustainability, corporate social responsibility and corporate real estate	p. 201
Introduction	p. 201
Definitions	p. 201
The business benefits of corporate social responsibility (CSR)	p. 203
The professional perspective	p. 206
Sustainability and commercial property	p. 207
Drivers of sustainability and how they impact upon corporate real estate	p. 208
BREEAM	p. 212
Energy Performance Certificates	p. 215
The measurability of sustainability	p. 216
Putting sustainability into practice	p. 219
Green leases	p. 221
The carbon reduction commitment	p. 227
Conclusions	p. 228
Summary checklist	p. 229
References	p. 230
Further Reading	p. 231
Case Studies	p. 233
Customer focused real estate: The Bruntwood way	p. 233
Benchmarking: Actium Consult - a fresh approach to real estate	p. 243
Workplace transformation: Nokia connecting people	p. 253
Headquarter reconfiguration: The Hong Kong Jockey Club Danny S.S. Then	p. 265
Sustainability: Amazon Court, Prague - a win-win solution	p. 277
Index	p. 289
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