Maximising Operational Efficiencies at BPP
Jaggard Macland helps BPP get to grips with managing a multitude of leased assets. Occupying over 20 teaching centres across the UK, including London, Manchester, Leeds, Birmingham and Bristol, BPP needed to gain full visibility of its real estate data to enable improved decision-making.
The Challenge
One of Europe’s leading providers of professional education, BPP has a passion for inspiring and guiding people from all walks of life on every step of their educational journey.
Since its beginnings nearly 40 years ago, BPP has undergone rapid expansion and today occupies over 20 teaching centres in the UK. Confronted with a burgeoning portfolio of leased assets, BPP needed greater clarity on its leasehold commitments. Gaining full visibility of all occupancy costs and critical dates would ensure it could more effectively manage the portfolio going forward.
BPP turned to Jaggard Macland to help ensure it had all key data at its fingertips.
The Solution
The answer was to bring everything together in a single property document – a Terrier – that would give BPP information on all its leases in a digestible and easy to use format.
To ensure BPP had access to all its detailed real estate data in one place, Jaggard Macland first undertook a detailed audit of every teaching centre, gathering and reviewing all critical lease information together with landlord invoices. All this data was then collated so that BPP could quickly drill down and look at information in more detail across the multiple centres it occupies.
Armed with all this information, BPP is now able to better monitor its operational costs and ensure that these reflect the service charge levels anticipated by its landlords. Furthermore, with all critical lease dates at its finger tips, BPP is better prepared to make early decisions on whether to use opportunities like break options or lease expirations to relocate or restructure its lease agreements. What’s more, enhanced visibility of its portfolio means it can make strategic decisions on space utilisation across its portfolio.
Jaggard Macland now advises BPP on all elements of their property portfolio; from searching for new centres, to negotiating rent reviews settlements, reviewing quarterly invoices and assisting with the early planning and preparations for developments like building alterations to the properties it occupies.