When it undertook its search for a new corporate real estate adviser for its entire portfolio, Nationwide wanted a partner with a strong strategic focus, a thorough understanding of the retail business, and an active presence throughout the UK. Little wonder, then, that it turned to us.
We provide Nationwide with more than a comprehensive estates management service – we are working in partnership to simplify Nationwide’s life, help improve the experience that it offers to customers and create a great place to work.
We are developing and implementing a long term property strategy to meet these objectives, with one of our top estates strategy experts seconded full time and a multi-disciplinary team of individuals across our network on standby to offer strategic advice and manage activity.
Cost savings that run into the millions
The results speak for themselves. Using our knowledge of the UK commercial property market, we conducted a detailed assessment of Nationwide’s portfolio and identified opportunities to run the estate more efficiently. Voids related to surplus space have subsequently fallen by 25% to below average levels and we are on track to exceed cost saving targets that run into the millions.
As part of the new commercial property strategy, we have advised on £13.5m of disposals and supported Nationwide in the management of its remote ATM strategy. We are also currently mid way through a branch relocation programme that is already helping the business to better meet customer needs.
Behind the scenes, we completed a forensic review of Nationwide’s property reporting system and the estates terrier to ensure its accuracy and relevance.
All of this has been achieved in a little over six months, and we’re confident that our strategic focus and collaborative approach will continue to deliver tangible benefits for Nationwide in the future.