25 July 2019 | Herpreet Kaur Grewal
LGIM Real Assets (Legal & General) has announced that it has established a new operating model for managing its buildings.
Legal & General's new model addresses the shift in service standard requirements by embedding a facilities management integrator (FMI) partner into its model to provide "a more data-led, agile service for its occupiers, which can be tailored and flexed to their specific requirements".
Legal & General has appointed Bellrock Properties & Facilities Management Limited (Bellrock) as its new FMI partner.
Bellrock has specialist skills to provide real-time data on buildings and supply chain performance, which would allow Legal & General to maximise the benefits a well-run building can offer. This should lead to improved energy efficiency, better sustainability credentials, and buildings performing more efficiently, meeting the occupier's requirements and expectations, says Legal & General.
Over time, this will also allow the real estate operator to make a demonstrable link to "our occupiers' business performance through data analysis".
Bill Hughes, head of LGIM real assets, said the new approach would create transparency "to build customer trust, employment to fill the skills gap in property management and innovation to future-proof our assets. It also encompasses cutting-edge business practices and advances the use of data as a means of measuring, monitoring and maintaining consistent standards".
LGIM Real Assets will continue to work with JLL as well as Savills, BNP and Workman, which form its the new panel of managing agents. The panel will work alongside the FMI and is in place to provide "diversity of ideas and approaches to the asset managers at a strategic level and also enables closer strategic alignment to the funds and the asset managers to deliver their business plans", added Hughes.