Sync and swim

The property industry is complex. The process of developing, leasing, operating, disposing or acquiring buildings all rely on interconnected parties – and the stakes are typically high for these relationships to be effective.

On top of its application to each stage of the building lifecycle, collaboration across the industry is crucial for knowledge sharing and working for progress on major ambitions, such as: net zero carbon, safety and social value challenges.

Lead and succeed

Collaboration is crucial for achieving the goals we outline as a result of our research and our wider work. Disconnected project teams fall short of the best project outcomes. Owners which do not understand what their occupiers want will lose their business. Developers who are not fully aligned with their investors’ ESG expectations won’t deliver against them. Poor communication between landlords and occupiers can result in lease breaks and costs on both sides. An industry which doesn’t share learnings on safety or sustainability will not be effective in improving the built environment for all.

The good news is that our industry shares a similar outlook in many areas. But there are key disparities.

Considering the challenges of sustainability, health and wellbeing, and flexibility, a long-term strategic plan is crucial. We found that occupiers (88%) are most likely to have a plan for building performance until at least 2030. However, only 50% of investors and developers have the same. Looking at the greatest challenges for organisations to achieve their building performance goals, 53% of respondents cited the struggles of siloed teams, internal politics and a lack of clear responsibilities within their organisations, which a clearer strategy could improve.

These issues point to a commercial risk facing developments and existing buildings, of avoidable under-performance against occupier goals and future industry standards. There must be stronger leadership to drive performance beyond the current regulations and market standards.

Among project teams, leadership should combine technical understanding with the project’s commercial objectives and an ambition to progress current standards. Where different priorities sit across a project team, central roles such as those provided by our project managers, project monitors, lead consultants and employers’ agents are instrumental to align teams with performance strategy and metrics.

Community engagement is another key piece of the puzzle. This is true for working with a building’s neighbours, and for cross-industry collaboration too, via independent working groups and industry panels to meet the challenges we all face.

Investors, developers, occupiers – and the specialist teams which work with them – can’t operate in a vacuum. Facilitating better connections is crucial for creating the valuable and resilient buildings we need for the future.

On projects, do you find it easiest to collaborate with...

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How we can help

Development Management

TFT’s Development Consultancy team brings a wealth of experience in real estate development and project delivery. Our technical expertise and commercial understanding allows us to collaborate knowledgeably with project teams  throughout all stages of a development project.

Project Monitoring

When it comes to property development, appointing the right project monitor is often the difference between a sound investment funding and a wasted opportunity. Our project monitor team helps you to minimise risk and protect your interests when financing projects. We take the time to talk to our clients and identify the critical factors, then work effectively with the project team to deliver the best outcomes.

Dispute Resolution

Dispute resolution is a necessary feature of commercial property, including in construction and between landlords and tenants. Party walls, technical due diligence surveys, service charge allocation and dilapidations can all raise disputes. In any dispute, TFT provides versatile and well-informed support to resolve them.

We’re here to help

For more information on how we can help your organisation improve building performance for more valuable and resilient assets, please get in touch with our expert team today.