iSite delve into the solutions for managing the re-purposing of buildings.
The high street has changed forever, following online sales growth of 36.6% 2020. People are still working from home and the debate is ongoing behind how flexible working and offices will evolved over time.
The early movers of Google, Facebook and Amazon have all announced a permanent shift to permanent flexible working policies. Next to emerge were a number of retail banks who took a more consultative approach asking for feedback from their staff but still ultimately announcing a radical shift in the amount of office space they will have in their estate going forward. There have been record-breaking deals for flexible office space as staff surveys showing a desire for more hybrid working in the future.
Meanwhile, the UK needs 345,000 new homes each year and housing stock is increasing at a prevailing rate of about 70% of what is needed. House prices, understandably, have increased as a result, with 22.2% increase in average house price over the past 5 years.
So, what will happen?
For a long time, and even before the global pandemic, there has been talk of residential developments to help revitalise town centres. If the extension to Permitted Developments is passed, it will establish the principle for residential uses to replace shops and a range of other uses. This then paves the way for delivery of housing in areas where there is over-supply of retail and other commercial property. And there will be pressure to act quickly, as landlords and pension funds are looking at space becoming vacant and rents falling.
Re-purposing of buildings with iSite
The Estate Module contains all your data and documents related to your property portfolio. This way, investment decisions are informed and proactive asset management becomes possible.
At the start of any re-purposing project comes the strategy, for which you want to get hold of:
- Lease breaks
- Exit options
- Onerous conditions
- Tenant and landlord contacts
- Legal status
- Repairing and insuring liabilities
- Sub-letting options
- Warrants use class and listing information
With the Estate Module, all this information jumps out exactly where you would expect to find it, and the intuitive dashboards make it as easy as possible to a snapshot in an instant.
The iSite Projects and Programmes module designed is specifically for Construction projects.
Project templates are built for:
- Lease management events
- Minor works
- New openings
- Supplier works
- New builds and more…
Just pick the type of works and the project is set up to be managed within iSite. Programmes of projects all link together with the contacts, organisation, properties and assets and associated budgets through every stage (or ‘Milestone Event’) in the project. There is even a planning timeline with all the event triggers to expedite the process as far as possible so key submission dates are not missed.
To support this, the Document Management System is integrated every stage along the way, so drawings, leases, project documentation and certificates are recorded and readily available at any stage.
As one of our latest developments, a solution has been designed, so that data from the Asset Information Model (AIM) that gets built up during the architecture and construction planning, is transferred into the asset data in iSite so that the AIM and real-life building stay completely in synchronisation through Operations and Maintenance lifecycle.
iSite can be at the centre of Re-Purposing projects, right from inception to delivery and right through the lifecycle of the property.
For more information about iSite’s features, visit www.isite.co.uk.
Nottingham, UK: iSite, a cloud-based property management platform, has announced the launch of their new and improved Planned Maintenance module. Developed in collaboration with Nationwide, one of iSite’s key clients, the enhanced module gives users complete visibility over their assets and equipment, along with features to automate and streamline their maintenance management.
About iSite: iSite is a commercial real estate (CRE) platform, designed to consolidate multiple datasets from various estates into a single source of truth. Founded in 2002 by Martin Ward, iSite has helped multiple blue-chip companies streamline the management of their estates, driving efficiency and paving the way for more strategic business decisions. For more information, visit www.isite.co.uk.