ABSTRACT
The effective management and control of corporate real estate is important due to its impact on the financial viability of the organisation. Public sector organisations were estimated that in 2012 the value of the publicly owned property estate in the United Kingdom was in the region of £700 billion. The government and the National Audit Office are taking an increasing interest in the efficiency of local authority real-estate holdings. National Health Service (NHS) Property Services was formed on 1 April 2013 as a result of the Health and Social Care Act 2012. NHS Property Services works in partnership with various NHS organisations, as both landlord and service provider, in four main business areas: strategic estates planning, asset management, construction project management and facilities management. Transport for London own a 5,700 acre estate and, like other public sector organisations, are making increased use of joint ventures in order to maximise the value of their estate.
