Estate Strategy to inform the shape of the future portfolio
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.
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
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