The winners of the 2005 RICS (Royal Institution of Chartered Surveyors) Property Management Awards were announced yesterday. The awards ceremony, now in its third year, was held at the Royal Opera House in London. The awards recognise outstanding work in property and asset management.
The winners are:
- Asset Performance Strategy - Spacia
- Corporate Real Estate Strategy - IBM Business Consulting
- Property Management Private Sector - Slough Estates
- Property Management Public Sector - The Home Office
- Business Infrastructure & FM - Royal Bank of Scotland Group
- Young Property Manager - Slough Estates
- Writers - Jane Fenwick. Premises and Facilities Management
- PM Academy - Frank Hynes, Regent Street Direct/Cushman Wakefield Healey & Baker
The commendations are:
- Asset Performance Strategy - DTZ
- Property Management Public Sector - East Sussex County Council
- Property Management Private Sector - Land Securities
Each category was judged over a 10 week period. Property and asset managers from property investors, occupiers and service consultancies submitted detailed answers to a set of questions relating to the strategic objectives, methodology and results of specific property management projects. The judges put the short listed candidates through their paces during a final round of interviews in April/May in order to select the winners.
In a move to incorporate peer opinion in the awards, the winner of the new Property Management Academy Award was selected through an online vote by RICS members from a shortlist drawn up by Francis Salway, Richard Lay and Ernest Sheavills. An 'Academy' of past winners, sponsors and judges made the original nomination of 40 candidates.
Richard Lay, past president of RICS, said: "I was delighted that these awards, which are the only awards in recognition of the extraordinary work being done by leading property and asset managers, should actively involve the vote of RICS members. The winner, Frank Hynes*, is a fine choice who represents innovation, hard work, vision and leadership in the profession."
Judges comments
Asset Performance Strategy Sponsored by Knight Frank
Winner: Spacia
Project: South London Investment Portfolio
Spacia redeveloped a series of properties forming part of the UK railway estate, based in south London. The space redeveloped within the portfolio totals some 23,500 sq m in size. The judges were impressed with the design and delivery of attractive accommodation with flexible leases and a high level of landlord service. Emphasis was placed on developing the brand to represent these values and provide a high level of confidence in the product within the SME market. Ongoing community and stakeholder liaison campaigns, including one-to-one briefings, onsite events, letters and editorial media activity, helped to promote the sites and stimulate regeneration.
Commendation: DTZ
Project: The benefits of an occupier focused asset management strategy on the DTZ Discretionary managed funds.
The management and performance of three discretionary managed funds constituted DTZ's entry (including the Imperial Tobacco Fund). DTZ demonstrated how they had clearly identified the challenges (lease expiries and weakening markets), formulated a strategy to mitigate loss of income and high void costs (help-desks, occupier websites and satisfaction surveys) and were able to deliver exceptional income yields through implementation of that strategy. This was an unusually strong example of good strategy that was well implemented to enhance yields. Over four years the Imperial Tobacco Fund has returned 24% against an IPD average of 15.6% (January 2001 to December 2004).
Corporate Real Estate Strategy Award Sponsored by Slough Estates
Winner: IBM Business Consulting Service
Project: Department for Work and Pensions: Expansion of the PRIME Contract.
The submission from IBM related to their role as advisor to the Department f
