Benchmarking is a tool used in many industries to compare performance across sectors, and Property Management is no different, as long as it is recognised that the figures will always represent an average – and beating that average is not an excuse for complacency.
Land Securities recognises the retail pressures affecting its customers and there has never been a more important period in time to ensure quality and value for money are demonstrated in every service field. Commitment to providing open and transparent information to all our customers is essential and compliance to the RICS Code of Practice is key for driving the Industry forward. This is being recognised in the positive steps being taken by an increasing number of contributors to the OSCAR benchmarking data.
Jones Lang LaSalle's OSCAR will continue to provide greater clarity and focus creating more robust benchmarking cost data and we are therefore delighted to be both a contributor and user of Retail OSCAR.
The Jones Lang LaSalle Retail OSCAR is a creditable, Industry recognised collation of data on Service Charge costs throughout the UK. Transparency is absolutely crucial to ascertain appropriate levels of service charge in todays challenging retail market and the information contained within this report promotes a clearer understanding of service charge costs. DSGI wholeheartedly supports the publication of such data and thanks the large number of major Landlords contributing information to make the database the definitive benchmark for the industry.
The suggested account structure within the RICS Code of Practice for Service Charges in Commercial Properties was designed to be comparable with the formats of both OSCAR and ITOCC.
As this format is adopted, coupled with the growing number of properties included in the Retail OSCAR sample size this benchmarking should be more indicative of a norm, and therefore useful as a tool.
Nick Peel
Head of Property Management
Shani Viner
John Gray
Service Charge Manager
