April 28, 2017
Government failing to meet goals for an integrated real estate portfolio 0
The UK Government is getting better value for money from its estate, according to a new report from the National Audit Office. The Government Property Unit (GPU), however, has not yet made much progress towards its objective of creating a shared, flexible and integrated estate. The government’s central estate includes some 4,600 individual holdings, costing around £2.55 billion a year to run. The GPU, which is part of the Cabinet Office, was set up in 2010 to better co-ordinate estate management in the public sector. Since the NAO’s last report in 2012, departments have continued to make good progress in reducing the overall size of the central estate. They have also reduced overall estate spending and pay less for office accommodation than private sector comparators. Departments report they have reduced their annual estate costs by £775 million in real terms since 2011-12 to around £2.55 billion in 2015-16. Between 2011-12 and 2015-16, departments raised £2.5 billion by selling surplus land and properties. The GPU is also starting to have an impact on the wider public estate.
May 1, 2017
Fresh concerns raised about council investments in commercial property market 0
by Mark Eltringham • Comment, Property, Public Sector
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