ABSTRACT
One of the most important strategic options for an organization is the selection of
appropriate procurement options for the organization’s real estate portfolio.
However, the drivers of change identified in Chapter 1 are making it more difficult to
co-ordinate real estate ownership options with the volatility of demand and utiliza-
tion created by contemporary management practices and economic uncertainty. In
this chapter we examine both traditional procurement options, including freehold
and leasehold property, and more contemporary options, including flexible leasing
products from Landflex and virtual solutions from MWB and ‘Regus’. We also
consider the implications of the procurement decision, including a brief introduction
to the proposed significant changes to the financial reporting of leases by the
International Accounting Standards Board.
