Surveyors and Property Consultants

Regeneration & Strategic Development


Strategic Land & Asset Audit

 

The value of UK residential property is estimated at £4,250bn, whilst commercial property and other non-residential buildings are valued at over £820bn according to British Property Federation figures (2011).  This compares to an equities sector worth around £1,825bn, plant, machinery and vehicles at around £690bn and UK Government bonds estimated at approximately £1400bn. The built environment then as an asset class is very significant indeed as a factor of production and as a wealth creator in the UK economy. It makes up a major part of the UK economy in its own right and also provides the basis for virtually all of the UK’s major industries and wealth creating operations.

 

Given the size and significance of the property asset it is important that organisations fully understand the opportunities and potential liabilities of that asset.   Organisations can range from public sector bodies, to corporates, to voluntary and third sector organisations and to developers, investors and landowners.  A comprehensive understanding of the property estate is an essential prerequisite to good business planning and strategy formulation.  Property should be considered in all of its different forms including the tangible freehold estate, leases and on-going lease liabilities, some of which may have been forgotten about years ago, licences and other contractual arrangements and rights.  It should include contractual arrangements and obligations including development and implementation agreements, rights, easements and encumbrances, options, overage provisions and pre-emptions, together with statutory and prescriptive rights and obligations and planning conditions and S.106 and S.278 requirements.  Understanding the estate, and then the estate’s relationship with its neighbours, is the starting point for any property related strategy.

 

We have undertaken many strategic land and asset audits both of existing property estates and of third party land ranging from individual sites to area wide intervention proposals involving many interests.  The audit considers not just what the interest is, but also its occupation and use, and its opportunities and threats.  From that audit a series of considered recommendations can be produced which inform the wider strategy be that for expansion, consolidation, remodelling, repositioning, maximisation of returns, exploitation or any other purpose as part of the asset plan.

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