Strategic asset management:
Worcestershire NHS Partnership
Helping Worcestershire NHS Partnership to reduce the operational costs of the various properties in their portfolio by identifying, investigating and consolidating the occupied buildings they lease.
We were asked to explore the potential for cost savings, streamlining services and increasing operational efficiency by consolidating the number of buildings in the portfolio.
The objective was to identify opportunities to rationalise Worcestershire NHS partnership’s property portfolio by vacating a number of locations and considering suitable alternative accommodation in other public sector offices.
We started by getting a full understanding of the leasehold buildings involved, creating a list of properties in the scope of the project, then visiting each one to gain a full appreciation of the pros and cons of each property.
Our research involved thorough investigation of all lease documentation and establishing vast quantities of information, including rent payable, repairs liability, and break options.
We then considered issues such as location, ease of access, parking, running costs, space requirements, practicality, working environment, state of repair, current market rent, and service charges.
We summarised by identifying the revenue savings possible by vacating the property, and recommending suitable alternative accommodation – including the costs, advantages and disadvantages of each option.
Services we provided
- assessment of the liabilities and costs associated with each lease
- cost analysis relating to the occupation of each currently occupied property
- full suitability assessment of each property – including location, accommodation and costs
- determination of market rental levels, plus overall ongoing costs of occupation
Knowledge brings the power to make future savings
By identifying the suitability and costs of occupation for each location, together with potential savings involved in relocation, we provided the client with the information they needed to make informed decisions on the future of their property portfolio.
Full costs of occupation outlined for the leasehold buildings held by each organisation
Potential alternative locations sourced
Reports on suitability and cost of occupation
Revenue savings determined for each location