Corporate Property Management

Corporate Property Management

-

English
256 Pages

Description

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.

Subjects

Informations

Published by
Published 12 February 2009
Reads 1
EAN13 9781405147842
License: All rights reserved
Language English

Legal information: rental price per page €. This information is given for information only in accordance with current legislation.

Report a problem
Contents PArcnsntefacekonlwdeegem
Section I: Strategic Corporate Property Management ± an analytical framework 1 Introduction to Strategic Property Management Introduction The importance of strategic property management Property as an investment asset Corporate property Conclusion References Further reading
2
3
Formulation of Strategy ± Adopting an Analytical Approach Introduction A common framework of analysis Use of the framework References
Property Performance Evaluation Introduction The role of property within business Performance evaluation: property held as an investment asset Performance evaluation: property held as an operational asset Benchmarking Cost centre v. profit centre Conclusion References Further reading
ix xi
1 3 3 4 5 9 13 14 14
16 16 17 27 28
30 30 31 31 38 45 46 48 48 50
v
vi
Contents
4
5
6
7
Understanding Property Characteristics ± Information Requirements Introduction Good record keeping Physical appraisal of the property Proprietary features Financial appraisal Evaluation Conclusion References
Understanding Property Users' Characteristics Introduction Who do we mean by `property users'? Society and stakeholder relationships Management relationships with stakeholders Management relationships with the wider user community Conclusion References Further reading
Organisational Objectives in Relation to Corporate Property Introduction Organisational objectives Strategy Porter's theory of competitive advantage Property as part of competitive strategy References Further reading
Understanding Property Markets ± an Institutional Approach Introduction Institutions Institutional arrangements Markets The operation of the market Transaction costs Uncertainty and institutional arrangements The need for institutions to evolve and change Analysing institutions when managing property Conclusion References
51 51 51 53 54 55 56 59 60
62 62 62 64 65 69 76 76 77
78 78 79 79 80 82 89 90
91 91 92 93 95 97 99 99 101 103 106 109
8
9
10
Contents
An Institutional Approach to Understanding Property Markets ± Legal and Financial Institutions Legal institutions Financial institutions References Further reading
An Institutional Approach to Understanding Property Markets ± Administrative Institutions Introduction Constitutional level Organisational level Operational level References
Formulating Strategies for Property Management Introduction The application of institutional analysis The application of management strategy The role of property within the organisation References Further reading
Section II: Case Studies Case Study 1: Borders UK Introduction Background Property user characteristics Property characteristics Organisational objectives in relation to real estate The institutional arrangement of the property market The external world Evaluation Conclusions References
Case Study 2: Clifford Chance Introduction Property user characteristics Property characteristics Organisational objectives in relation to real estate Strategy selection and implementation The institutional arrangement of the property market The external world
vii
111 111 117 121 121
122 122 122 125 128 131
132 132 132 137 142 145 146
149 151 151 151 152 155 156 157 158 159 161 162
163 163 163 167 168 169 171 172
viii
Contents
Evaluation Conclusions Reference
Case Study 3: The Youth Hostels Association of England and Wales Introduction Background Property user characteristics Property characteristics Organisational objectives in relation to real estate The institutional arrangement of the property market The external world Evaluation Conclusions References
Case Study 4: Cancer Research UK Introduction Background Property user characteristics Property characteristics Organisational objectives in relation to real estate The institutional arrangement of the property market The external world Evaluation Conclusions References
Case Study 5: Ardtornish Estate, Morvern, Scotland Introduction Background Property user characteristics Property characteristics Organisational objectives in relation to real estate The institutional arrangement of the property market The external world Evaluation Conclusions References
Bibliography Index
173 174 176
177 177 177 179 183 187 189 191 193 193 194
195 195 196 197 200 201 204 205 206 207 208
210 210 210 211 213 214 220 222 223 225 227
228 235