Managing our agents
37% rated our managing agents’ performance as good or excellent, up from 16% in 2007. Encouraged by this significant improvement, our managing agents are committed to working with retailers to make sure their needs are met.
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"It's clear to me when their agents communicate with us that it's British Land who is making the rules."
- Estates Manager (Sports Retailer)
Maintain these high standards, monitoring our agents’ performance against our customer-focused key performance indicators.
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"I would like to see one point of contact introduced, as I think that this would be a meaningful step in the right direction."
- Head of Property
(Food and Drink Retailer)Pilot a managing agent key contact programme for retailers.
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"Agents need to be responsive to our store managers' needs on site."
- Director of Property
(Home and Garden Retailer)Carry out mystery inspections of our properties to monitor agents’ performance.
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"British Land needs to manage its agents more tightly and give them clear direction on how they should be working"
- Head of Property
(Electrical Retailer)Work with each managing agent to develop performance improvement plans to raise standards and improve consistency.
What we have already achieved Managing agents
- Fixed management fees from 2006 to 2009, removing any link to service charge costs.
- Funded new Regional Centre Managers, also reducing the cost to retailers of those who were already in place.
- Introduced customer-focused performance indicators for our agents, publishing results each quarter.
- Consolidated agents to five firms, Colliers CRE, Montagu Evans, Munroe K, Savills and Smith Young.
We use agents because they represent the most cost efficient and effective way to manage our portfolio, enabling us to respond quickly to the purchase or sale of properties. This approach also means that we can adapt the level of management provided, as appropriate.
