January 26, 2005—Property issues should be higher on the boardroom agenda according to a new guide authored by the CBI, advisers Deloitte and surveyors Donaldsons.
“Property for Business—an essential guide” argues that as property is a major issue for all companies, efficient use and competent management is vital to competitiveness.
The guide notes, however, that property rarely makes it to the boardroom agenda. The lack of strategic awareness, the authors say, costs UK business billions of pounds every year through inefficiency. The publication provides examples of how businesses have optimized the use, cost and operational value of their property assets. It also highlights the increasing regulatory influences that are driving property to the fore.
Deloitte Real Estate expert Martin Laws commented: “Cost issues and changes in accounting standards mean property is increasingly moving beyond the realm of the property department and becoming a CFO issue. Boards in general need to pay greater attention to this area, as there are significant opportunities to create value. Bad property management on the other hand can seriously inhibit plans for growth.” <br
Reprinted with permission; copyright 2005 i-FM
