Commercial Portfolio Review
Cushman & Wakefield was instructed by the Peak District National Park Authority (PDNPA) to undertake a strategic review of its estate.
The client’s challenge:
- Diverse estate covering over 6,900 hectares of the National Park
- An estate which is misaligned with its over-arching aims and objectives
- A need to reduce operating costs and to drive revenues to reduce the current deficit between income and expenditure
- Threat of future government funding cuts of up to 35%
- An obligation to uphold the landscape, conservation and recreation value
In order to identify opportunities and issues, Cushman & Wakefield carried out the following:
- Site visits, workshops and 1-2-1 meetings with the Authority’s estates team.
- Analysis of the income and expenditure for each property type to identify cost saving and revenue generation opportunities.
- Assessment of the financial and qualitative performance of each asset type to establish which assets were providing value for money. Those assets which were performing poorly financially and which were meeting few of their objectives were listed as a priority in terms of the implementation of the recommendations made.
- Using the information provided to us and working closely with the Authority and our rural property sub-Consultants, Smiths Gore and leisure consultants Planning Solutions Consulting Limited, we identified both income generation and cost saving opportunities for each
- By combining the experience and expertise of Cushman & Wakefield. Smiths Gore and Planning Solutions Consulting Limited we were able to provide the Authority with a comprehensive review.
- Our final review identified ways in which the Authority could move to a more efficient estate, whilst still continuing to support National Park outcomes
- Close engagement with the client at all stages and across all levels of the organisation ensured that the recommendations made within our review were fully supported by both Authority staff and Members.
- The report achieved unanimous support across the political spectrum.