Estate Strategy to inform the shape of the future portfolio - Cushman & Wakefield

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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

CONTACT

Matthew Cliff

Matthew Cliff, Associate Director
+44 (0)113 233 7384

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