The Midas Touch

Leader

Welcome to the Summer 2007 edition of 'The Midas Touch', the quarterly newsletter of Midas Corporate Consulting, the market-leading business property consultancy.

This issue covers news of some of our recent work in in-sourcing and property-related business process consulting, relocation management, public sector work and exit strategies.

As ever, please feel free to contact us with your suggestions, comments or questions.

Best regards,

Andrew Pegg
Managing Director

News

Risk management drives change process Midas has been instructed to help develop a change management process to support a company that is bringing in-house over 200 facilities managers and support staff to manage its extensive multi-site portfolio.

This is a large project with a number of risk and activity streams that have to be carefully co-ordinated, each with their own timeline and level of risk. Our brief is to develop a future management regime that will deliver long-term service improvements, and cost reductions and improve the management of risk.

With our business consultancy and property skills we are uniquely positioned to assist with an activity which may go against prevailing trends, and be beneficial to the client.

Business develops its corporate and social policies
Midas has been working with Supply London, a programme funded by the London Development Agency, to better position itself for work in the public sector by achieving "Fit to Supply" status. Our Health and Safety, Environmental, Equality and Quality Policies have been upgraded to satisfy the procurement processes. Copies are now available via our website or upon request.

The process has been a great opportunity to look at ourselves and refine how we do business so that we provide an even higher quality service to our clients whilst reducing our impact on the environment. We already manage our impact through our existing business practices but there is always more to do. This approach is likely to be of increasing interest to our private sector clients too.

So, if you hear about any property-related management consultancy in the public sector, please let us know - we are ready to take on more of this type of work!

For more information, see the Resources section of our website.

Business expansion management
Midas has been consulted by a new business providing Spa and fitness facilities for new and expectant Mums. One of the key issues is whether the sites short-listed so far can be delivered within the time frame expected by the investors. Most sites will need work done, including planning applications, and so the question for our client is how the roll-out can be successfully maintained given the limited property expertise inevitable in a start-up business.

This is why Midas has been approached. With our extensive experience in new site roll-outs and acquisitions, and additional specialist resources that can be bolted on as required, we have already provided advice on a number of key issues to help the management team have a clear picture of the situation and manage expectations.

Please contact us if you think you may know of a site that would be suitable in the future or find out more information about our
Effective Relocation Process

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Meet the team

Managing Director - Andrew Pegg
Director of Business Analysis - Chido Ikeyina
Director of Strategic Consulting - Julian Capell
Team PA - Wendy Slane

To contact any of the Midas team, please click here

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Best practice

TAILORING PROPERTY TO BUSINESS CONTRACTS

Clients should check their business needs well in advance of negotiating new leases.

Midas has successfully negotiated a lease break on behalf of one of our clients who had no security of tenure and had already agreed to a 5-year lease.

Fortunately the client had not signed the lease and Midas was called in when the company revisited the terms of its own service contract and realised they could be exposed if that contract were to be terminated in 2 years.

Although the company believed the lease terms could not be changed, Midas was able to develop a business case that persuaded the landlord to accept a break clause without penalty after the 2-year stage. With Total Occupancy Costs at over £120,000 per annum, the company now has the potential to save over £360,000 with the corresponding contribution to the company's bottom line.

Considering your options well in advance is ideal but as this '11th hour' case shows, we may still be able to help improve
terms and conditions.

If you need advice or would like a second opinion on break clauses, contact Midas.

The Midas Property Diagnostic® is a useful check-list for any property professional considering strategic or operational property planning for their company or organisation as well as addressing tactical issues such as lease breaks or rent reviews.

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Commercial Lease Code

Use the Midas quick link to the Commercial Lease Code.

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