Making Property Work
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Transcript of Making Property Work
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Making Property Work
Presented by Property ServicesR.R. Banks
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Property Review
A Plan for a Comprehensive Property Audit of the Ownership, Occupation and Value Management of the Council’s Real Property Holdings
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Four Reasons For Holding Property
To Carry Out Services To Administer the Services Maintain Cultural, Recreational & Quality
of Life Activities To Help Pay For All Of These
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Why is a Review Needed? (1)
What Do We Have Now?
Investment income of £1,800,000 £30m’s employed in direct service properties £5.7m’s employed in administrative offices £46m’s employed in educational buildings £12 m’s employed in culture, recreation and sport
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Why is A Review Needed? (2)
Do Our Properties Provide What Is Really Needed?
How Many, How Large, How much But How Good Is the Estate at its Job? Estate an Assembly of Past and Present Local
Authorities Changing Transport, Work, Leisure and
Educational Needs
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Why is a Review Needed? (3)
Justify Use of Capital for Property Demonstrate Minimum Occupation and
Maximum Use Defend Land Holdings for Investment Best Value
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Ownership & Occupation
3 Principles
Primary purpose. Minimum Occupation, Maximum Utility Measure Occupation in Money
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The Aim
We will deliver services using the minimum accommodation. The real cost of occupation will be measured in money and by reference to performance indicators. Prudent Management will reduce occupancy costs to free resources out of buildings and into service provision.
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What Is Our Plan?
Classify Estate Questionnaire and Feedback Decide Primary Use and Reason for Ownership Existing and Alternative Use Valuations Repairs and Energy Costs Profiles Performance Indicators Review The Estate in the light of the above
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Judging the Properties
Revenue Investment
Return - actual and target Growth Future Changes
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Judging the Properties
Capital Investment
Effectiveness as Capital Store Opportunity Rate Other Considerations
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Judging the Properties
Operational Properties
Different Criteria Ratios - Occupant/Net Useable Space OR Occupant/Asset Value PFI/Sale and Leaseback Quality, Repair, Future Costs Effect on Asset Rents
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Strategy
Each to Have its own Strategy/Plan Have Regard to Synergy of Uses Each Building Is Part of the Whole Estate
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Judging the Review
Workable Strategy for Each Asset Policy for Reserves Compliance with Performance Indicators Effective Increase in Opportunity Cost of Alternatives Peer Department Comment Attainment of Corporate Plan Objectives