Corporate Real Estate Asset Management

It is important for those studying and practicing in real estate and property management to learn to manage property assets effectively, to be able to provide their companies with effective property and facilities solutions. This book raises the awareness of how real estate management can support business, transform the workplace and impact upon people and productivity, ensuring that costs are minimized and profit maximized. Written for advanced undergraduate students on property related courses, it provides them with a rounded understanding by aligning the subject with estates management, facilities management and business strategy. Case studies and action plans provide real insight and make this book an essential reference for those at the start of their careers in real estate and facilities management.

The second edition of Corporate Real Estate Asset Management is fully up to date with the latest thought and practice on successful and efficient use of corporate office space. Written from an occupier’s perspective, the book presents a ten-point CREAM model that offers advice on issues such as sustainability, workplace productivity, real estate performance measurement, change management and customer focus. In addition, new case studies provide real-life examples of how corporations in the UK, USA, Hong Kong and Abu Dhabi actively manage their corporate real estate. The book is aimed at advanced undergraduate and graduate students on corporate real estate, facilities management and real estate courses and international MBA programmes.

Property asset management requires both day-to-day oversight of rental properties and an ability to maximize the potential of the portfolio through forward thinking and practical planning. Successful property managers must be flexible and proactive whilst maintaining a robust knowledge of technical, financial and legal aspects of the leasing system. Property Asset Management is a practical guide to the key principles of successful property management, perfect for both student and practitioner alike. In this book, Douglas Scarrett and Jan Wilcox demonstrate how to successfully manage properties for the varying needs of clients ranging from individual property owners to large international commercial ventures. As well as the basic theory, Property Asset Management discusses the process of active management, the strategic objectives, performance measurement, and the key financial and operational information needed for high quality and comprehensive reporting to clients. This fourth edition has new chapters on corporate real estate and financial management, and has been extensively rewritten to incorporate recent developments in property management. Software screenshots are used to illustrate salient points and readers are provided with a thorough overview of the latest legal aspects of land ownership and tenancy arrangements. With everything you need for successful property asset management, this book both caters for the needs of RICS accredited and business courses and serves as a handy guide for everyday practice.

Facilities Management (FM) and Corporate Real Estate Management (CREM) are two closely related and relatively new management disciplines with developing international professions and increasing academic attention. Both disciplines have from the outset a strong focus on controlling and reducing cost for real estate, facilities and related services. In recent years there has been a change towards putting more focus on how FM/CREM can add value to the organisation. This book is driven by the need to develop a widely accepted and easily applicable conceptual framework of adding value by FM and CREM. It presents the state of the art of theoretical knowledge and empirical evidence about the impact of buildings and facilities on 12 value parameters and how to manage and measure these values. The findings are connected to a new Value Adding Management model. The book is research based with a focus on guidance to practice. It offers a transdisciplinary approach, integrating academic knowledge from a variety of different fields with practical experience. It also includes 12 interviews with practitioners, shedding light as to how they manage adding value in practice. This is a much needed resource for practitioners, researchers and teachers from the field of FM and CREM, as well as students at both undergraduate and postgraduate level.

Corporate property is routinely identified as the second biggest cost within a business organization after staff. Effective management of such a major asset requires a fundamental understanding of both the operation of the property markets and the operational requirements of the business occupier. This primer on strategic property management focuses on how property held as a corporate asset can be used to add value to the primary business activity of an organization. Rather than separate the needs of the business form the management of the business estate, the aim of Corporate Property Management is to enable the reader to directly support the primary business function through strategic management of corporate property, thereby adding value to the business as a whole. The book introduces a generic framework designed to assist in the analysis of any corporate property portfolio, working as a practical aid to decision making. The book is structured around this framework, providing a detailed review of its application and uses. This is then developed further through extensive use of five in-depth case studies that covers a wide variety of property types and property users – Borders bookshops; Cancer Research high street shops; The Youth Hostel Association; Clifford Chance’s move to Canary Wharf and the Ardtornish Rural Estate in Scotland.

In many public sector organisations, there has been little or no adoption of a proactive asset management strategy. Where an extensive property portfolio exists, this can result in poor overall utilisation of the portfolio, exemplified by excessive vacant property or properties not being put to best use. In such situations there is a risk that the building stock deteriorates more rapidly than expected, leading to expensive maintenance and repair charges. Lack of a proactive asset management strategy will impact on the services delivered by such organisations. Public Sector Property Asset Management covers all aspects of asset management in the public sector, including the overall concept, the development of asset management strategies and the implementation of asset management practices. It evaluates asset management strategies, processes and practices to show how effective management of property assets support business activities or service delivery functions. The reader will understand the importance of improving decision-making through the recognition of all costs of owning and operating those assets throughout their lifecycle, leading to improved business process activities or service delivery functions which greatly assist in meeting the social and economic objectives of such organisations. Written for all practitioners currently involved in asset management, the book will also be useful in the university environment, to those teaching, researching or learning about asset management in the public sector.