Strategic Real Estate Consultancy Flashcards
What is benchmarking?
A measurement of the quality of an organization’s policies, products, programs, strategies, etc., and their comparison with standard measurements, or similar measurements of its peers
What experience have you had with benchmarking?
Comparison of measurements I made with piers and comparing with measured surveys etc.
What performance measurement techniques have you used in your work?
KPI’s for both access management. I am individually assessed on a monthly basis as to how many management cases I am resolving
If rent reflecting the market is significantly higher than your Client’s passing rent are you obliged to deal at this level? How would you advise the Client?
I am not obliged to deal at this level but if the landlord was not certain of market rents then I would point them in the direction of the RICS website which explains about instructing an agent to represent them.
Talk me through your Service charge project?
- the clients aims were to reduce their operational costs.
- there had been a significant increase in costs over the period.
- I set up a tracker to track all of the service charges to analyse them on a psf basis using the apportionment schedules.
- I requested the latest budgets for the properties
- looked where there were significant increases in costs and tried to reduce these where possible.
- reported back to the client on any savings that were made.
Talk me through your generator programme
- clients objectives to keep trading hours as normal and maintain sales within stores.
- reviewed the leases to look at contractual commitments - trading hours
- requested if stores had back up generators
- or see if trading hours could be amended
- Options were: 4 stores had generators, 6 didn’t. with 2 stores allowing for amended trading hours. 10 stores in total.
- I provided the client with these strategies in case the blackout was imposed.
- no blackout was imposed and therefore it didn’t need to happen.
Talk me through your store re-fit programme
clients objectives: - increase footfall levels, improve customer experience and increase sales and performance of stores.
solution: - reviewed the lease terms to make sure a LTA wasn’t required.
- made regular contact with the parties to coordinate workflows.
- Implemented a RAG system to show which stores were on track.
advice: - had weekly calls with the client
- shared data with the board for approval
- allowed the client access to the RAG system
Talk me through your telecoms covid plan?
clients objectives:
- decrease costs
- reduce the number of closed sites
- provide a good network to the UK
solution:
- develop a tracker
- receive board approval
- implement a RAG system
- negotiate where possible for access
- assess sites on a daily basis
Advice:
- request the client provide a ranking list
- I managed to reduce the number of closed sites from 50 to 20.
- recommended to implement the strategy going forward.
What are CDM regs and what is the date?
Construction design and management regulations 2015
Are the main set of regulations for managing the health, safety and welfare of construction projects. CDM applies to all building and construction work and includes new build, demolition, refurbishment, extensions, conversions, repair and maintenance.
What was the clients aims for SC tracker?
Reduce operational costs
What was the clients aims for Generator programe?
maintain sales levels and provide trade to customers
reduce the impact of the potential blackout
What was the clients aims for Re-fit project?
increase footfall levels, improve customer experience and increase sales and performance of stores.
The strategic advice relates to the mangement of the project to deliver consents in line with the schedule. You are saving costs by effectively manging all parties and obtaining consents in line with the schedule. Their business objective is to increase footfall to generate more sales in store
What was the clients aims for telecoms covid plan?
- decrease costs
- reduce the number of closed sites
- provide a good network to the UK
What advice did you give to the client for your telecoms covid pan?
recommended to implement the strategy going forward.
It was an effective way to keep track of sites.
What advice did you give to the client for your re-fit programme?
- had weekly calls with the client
- shared data with the board for approval
- allowed the client access to the RAG system
