LeaseholdersUnited

Towards saving UK Businesses £20 billion a year in property costs

In 2005 Reading University and the All Party Parliamentary Committee on shops highlighted how lack of information and guidance on property cost issues was believed to be damaging the UK economy.

Since then further data has been published by the RICS, the CBI, Loughborough and Reading University as well as large firms of Surveyors, further highlighting the extent problem.

The root cause is a lack of transparency in the UK property market, particularly in relation to property transactions. Jones Lang La Salle rated the UK on a par with Poland in this area in 2008 and at only 9th in the world.

This lack of transparency has been a major contributing factor to the UK recession in 2007 , will inhibit economic recovery, and we believe is costing UK businesses £20 billion a year (see table below).
Lack of a National Rental Database £4,000,000,000
Overcomplicated business rates system £2,000,000,000
Lack of a National Service Charge Database £500,000,000
Lack of a Building Insurance Database £500,000,000
Lack of Independent check on Capital and Rental Value £4,000,000,000
Inefficient Use of Commercial Property £11,000,000,000
Total £22,000,000,000

 

In 2005, with the rapid development of software and internet technology taking place,  our Chartered Surveyors, software and web developers started developing a system that would solve these  transparency issues. By September 2009 this work had been completed.

A small minority are making a lot of money from this lack of transparency and the majority are paying for it.

If businesses support LeaseholdersUnited in creating the transparency that is needed  UK businesses will be able to cut their property costs today, and keep them at realistic levels tommorrow.