ABSTRACT
A primary role of the corporate real estate professional is to assist operational colleagues to achieve the best match between what a business needs in order to function and grow and what it actually occupies. Around the turn of the 20th century many industries grew at an exceptional rate through acquisitions and, in the wake of that growth, the value of many assets was not fully realised. In addition they were not subject to the strict environmental, health and safety and planning regulations that prevail today. The first and most essential step in the effective management of corporate real estate is to know and understand the extent of property portfolio, in other words audit it. Once surplus land or property has been identified it becomes the primary task of the corporate real estate executive to manage the fabric of what is left, thereby allowing operational staff to concentrate on operational matters.
