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Making Property Work. Presented by Property Services R.R. Banks. Property Review. A Plan for a Comprehensive Property Audit of the Ownership, Occupation and Value Management of the Council’s Real Property Holdings. Four Reasons For Holding Property. To Carry Out Services

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making property work

Making Property Work

Presented by Property Services

R.R. Banks

property review

Property Review

A Plan for a Comprehensive Property Audit of the Ownership, Occupation and Value Management of the Council’s Real Property Holdings

four reasons for holding property
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
why is a review needed 1 what do we have now
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
why is a review needed 2 do our properties provide what is really needed
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
why is a review needed 3
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
ownership occupation 3 principles
Ownership & Occupation3 Principles
  • Primary purpose.
  • Minimum Occupation, Maximum Utility
  • Measure Occupation in Money
the aim
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.
what is our plan
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
judging the properties revenue investment
Judging the Properties Revenue Investment
  • Return - actual and target
  • Growth
  • Future Changes
judging the properties capital investment
Judging the PropertiesCapital Investment
  • Effectiveness as Capital Store
  • Opportunity Rate
  • Other Considerations
judging the properties operational properties
Judging the PropertiesOperational Properties
  • Different Criteria
  • Ratios - Occupant/Net Useable Space OR Occupant/Asset Value
  • PFI/Sale and Leaseback
  • Quality, Repair, Future Costs
  • Effect on Asset Rents
  • Each to Have its own Strategy/Plan
  • Have Regard to Synergy of Uses
  • Each Building Is Part of the Whole Estate
judging the review
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