Companies 'must consider property values'

22 June 2011

Written by Simon Whittaker

Commercial mortgage holders may wish to consider the profitability of their buildings and incorporate this into their strategies, following the advice of a leading expert.

Cardiff-based Robert Chapman, chair of the Royal Institution of Chartered Surveyors' regional association, explained that businesses may be missing out on a vital way to save money by ignoring structure and location issues, the Western Mail reports.

The property "almost always accounts for the biggest cost to a business, alongside salaries", he was quoted as saying.

Therefore, he is surprised when he encounters managers or other leading staff members "skipping the services of a chartered surveyor" and making bad decisions about their premises as a result.

Mr Chapman, who has provided advice on regeneration and land to hundreds of organisations, asserted that in the present period of economic turbulence, many firms will have examined their expenses and outgoings and made efficiency savings.

However, they may have ignored the role of property in their economic, operational and functional affairs, he noted.

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