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Real estate: Cost centre or profit enhancer?

Author

Listed:
  • Wright, Steve

    (TTSP, UK)

Abstract

In a world of volatile economics, the demand for improved profitability is on the rise. It is this trend that has led to the development of new thinking that challenges the traditional approach to the provision of workplace optimisation. This trend has been identified from the perspectives of management consultancy and workplace design and gives rise to an alternative paradigm to the current cost-driven model. The alternative model is reliant upon greater engagement from all areas of an organisation and a refocusing of the role of real estate and facilities management departments to deliver a more holistic view of the options open to a business facing change. This refocus provides options that not only deal with potential cost-savings but also increase bottom-line performance through greater efficiency and productivity. Armed with these options, senior management can make informed decisions regarding which changes will offer the most benefit to their particular organisation and operations. This paper hopefully will encourage wider consideration of how real estate is both used and valued and what it can contribute rather than being consistently perceived as a cost centre.

Suggested Citation

  • Wright, Steve, 2014. "Real estate: Cost centre or profit enhancer?," Corporate Real Estate Journal, Henry Stewart Publications, vol. 3(3), pages 234-243, April.
    • Handle: RePEc:aza:crej00:y:2014:v:3:i:3:p:234-243
    as

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    More about this item

    Keywords

    optimisation; human capital; workplace; efficiency; profitability; productivity; real estate;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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