Estate Strategy to inform the shape of the future portfolio
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The Challenge
NRS was created by merger of Scotland’s People and Scotland Archives. By identifying future requirements and fitness for purpose criteria, NRS required Cushman & Wakefield to deliver an Estate Strategy that met the requirements of the Government’s efficiency agenda whilst allowing NRS to maintain a guardianship role within a crumbling estate unable to meet modern storage requirements.
The Solution
Cushman & Wakefield carried out the following tasks:
- Explored future operational requirements: Assessment of storage requirements in line with PD5454, and best practice/ policy
- Heritage assets (Grade X listed): Gathered intelligence from technical experts (building consulting and planning expertise), to assess options to reconfigure/ optimise existing assets
- Fitness for purpose: Assessed assets with, and without investment against key criteria
- Future blueprint: Identified alternative accommodation solutions
- Soft market testing: Assessed alternative use demand e.g. boutique hospitality.
- Option analysis: Full Green book appraisal compared the financial profiles to inform business case development
The Results
Cushman & Wakefield delivered the following results:
- Locked down requirements: Identified the scale (in linear meters) and nature of storage requirements.
- Agreed future blueprint: Distinguishing between generic and specialist components, and climatic control needs
- Identified alternative use value
- Agreed new strategic direction: for the newly merged organisation