MODUS MAY 2015 RICS.

ORG/MODUS THE TRUST ISSUE

MAY 2015
rics.org/modus

@ RICSnews

THE TRUST ISSUE

CLOSE CALL

Countdown to the
UK general election / 16

DREAM TEAM

The art of international

business partnerships / 22

STEP CHANGE

Real estate investment

trusts: new frontiers / 30

#RICSmodus

A LIGHT
IN THE SHADOWS
How a global ethics movement is
building a brighter future / 36

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Contents
MODUS MAY 2015
RICS.ORG/MODUS

I dont see much downside to creating an international

ethics standard. It will give investors more confidence, which
means they will travel more, interact more and invest more

09

15

16

36

Foundations

06

Features

Intelligence

KATHY TSAO, ASIAN REAL ESTATE ASSOCIATION OF AMERICA

ETHICS, P36

47

48

66

06 DIFFERENCE OF OPINION
Are open-plan offices bad for productivity?
We hear two points of view

16 CHOOSE YOUR COLOURS

What does the outcome of the UK general
election hold for the built environment?

46-47 CAREERS
How to stay motivated when job hunting;
Turner & Townsends Chris Carr MRICS

07-15 NEWS IN BRIEF

Essential industry news, advice and
information for RICS members

22 HOWDY, PARTNER
Forging cross-border relationships

48 BUSINESS
Managing your employees flexible
working requirements

08 THINKING: PHILIPPA FOSTER BACK CBE

Trust is not only a quality that must be
earned, but embedded in the way we do
business, says the Institute of Business
Ethics director
13 PRESIDENTS COLUMN
Louise Brooke-Smith FRICS discusses
RICS role in upholding ethical, as well as
technical, standards

28 BUILDING TRUST IN BIM

Why has industry take-up been so slow?
30 THE REAL DEAL
Could real estate investment trusts be
the solution for struggling economies?

49 LEGAL 101
Fit-outs that are fit for purpose
51 BRAIN GAIN
Take a corporate finance primer

36 COVER STORY
An international coalition is shedding
light on the world of ethics standards

66 MIND MAP
Aedas global chairman Keith Griffiths
ponders Chinas urban future

42 OFF THEIR TROLLEY

Are the UKs supermarkets too big to fail?

PLUS
52 Benefits
53 Events
54 Obituaries + Conduct
58 Recruitment

44 BARANGAROO BOUNCES BACK

How a 22 hectare container port is being
turned into Sydneys new business district

Views expressed in Modus are those of the named author and are not necessarily those of RICS or the publisher. The contents of this magazine are fully protected by copyright and may not be reproduced in any form without the prior
permission of the publisher. All information correct at time of going to press. All rights reserved. The publisher cannot accept liability for errors or omissions. RICS does not accept responsibility for loss, injury or damage or costs that result
from, or are connected in any way to, the use of products or services advertised. All editions of Modus are printed on paper sourced from sustainable, properly managed forests. This magazine can be recycled for use in newspapers and
packaging. Please dispose of it at your local collection point. The polywrap is made from biodegradable material and can be recycled.

M AY 2015_MODUS 03

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Feedback

Join
the
debate
REACTIONS AND RESPONSES
FROM PREVIOUS ISSUES

Do you have a comment about this issue

of Modus? Email editor@ricsmodus.com,
or tweet us using #RICSmodus
WORDS OF WISDOM
Sir, At present there seems to be a great
motivation to improve building methods, but
most improvements have been made already,
in the late 1970s.
There are a couple of reports that are very
specific about the way to proceed. The problems
are politics, corruption, conflict of interest,
ignorance, greed and the search for power. Until
the day these are swapped for wisdom at the
centre of a table of discussion, we will keep
returning to the same problem.
There is no place for discussions about
direction of actions emerging from these tables
if there is no wisdom. Business leaders need to
show wisdom if they want to move things
forward and avoid critical mistakes.
Cynthia Morales Castillo, Corporate Innovation
for Construction, Edinburgh
MENTORING THE MENTORS
Sir, How does one define mentoring (Guiding
principals, page 28, Modus, February 2015)?
The Women in Property scheme requires both
parties to undertake training so they understand
what is needed from the relationship. This
becomes an informal contract, establishing
the boundaries and managing expectations.
Successful mentoring relies on having an
endgame what is the mentee hoping to
achieve? We match partners from different
disciplines, bringing an injection of experience
from outside the mentees comfort zone.
True mentoring and APC guidance are two
different things, both of terrific value but not to
be confused.
Elspeth Burrage, national chairman,
Association of Women in Property

@RICSnews // #RICSmodus
@BettySMellor @RICSnews #ricsmodus
Great article on Out of Office Assistance.
Flexibility of home working: brilliant, face
to face meet ups: essential!
@DayleBayliss Great piece in this months
@RICSnews Modus magazine with @
businessisgreat #DoMoreOnline small
mention for us
@radiogreenlab Business mentor morning

and photograph for RICS modus! Up and

at em!!!
@Steven_Ramage One of numerous, great

benefits of being #RICS member - using

the fabulous facilities in Westminster @
RICSnews #MODUS (wifi, space, tea)

CATS EYES
Sir, I always find the information about new
books of interest but will you please print the
book title alongside the notes. The thumbnail
picture of the book is so small that a magnifying
glass is often required to work out its title.
Simon Haste MRICS, head of property,
Cats Protection, Haywards Heath

GRAND CAYMAN
Sir, I very much enjoyed attending RICS Cayman
Islands Property & Construction Conference,
which took place on 5 March. It was great to
hear RICS President, Louise Brooke-Smith,
give the keynote speech.
The event coincided with the first day of the
official Caribbean-wide implementation of the
Valuer Registration programme. From this date,
all RICS members performing valuations in the
region are required to become Registered
Valuers. Following the introduction of the VR
programme in the Cayman Islands in July 2014,
valuers there have seen an upswing in reporting
standards, with increasingly high levels of
transparency, credibility and consistency
shown in valuation reports from the island.
It really was an eye-opening event that
offered great insights into local issues
surrounding George Town, Caymans capital,
and the plans for its redevelopment. The
afternoon sessions were of particular interest
to me as they both centred around issues that
directly impact the way our company does
business, regarding the development of a new
Cayman Islands construction contract and the
Builders Registration Bill, which is scheduled
to come online this summer.
There was plenty of controversy, which is
essential to get any far-reaching idea moving,
and RICS was the perfect forum to host these
important national debates.
Shane Roberts MRICS, Cayman Islands

Thank you for your letter. After looking at the

section, we hope you will be pleased to notice
that weve taken your comment on board

89,317 average net circulation

1 July 2013 30 June 2014

FOR SUNDAY Editor Oliver Parsons / Art Director Christie Ferdinando / Contributing Editor Brendon Hooper / Production Editor Andy Plowman / Senior Designer Isabella Fernandes /
Creative Director Matt Beaven / Account Director Karen Jenner / Advertising Sales Director Charlotte Turner / Advertisement Manager Victoria Underwood / Senior Sales Executive Angus Sharpe /
Sales Executive Nick Webb / Production Manager Michael Wood / Managing Director Toby Smeeton / Repro F1 Colour / Printers Wyndeham Group / Cover Illustration Adam Simpson /
Published by Sunday, 207 Union Street, London SE1 0LN wearesunday.com / For RICS James Murphy and Kate Symons, RICS, Parliament Square, London SW1P 3AD

M AY 2015_MODUS 05

Intelligence

News / Reviews / Opinions / Reactions

DIFFERENCE OF OPINION

Open-plan offices are bad

for productivity. Discuss.
Championed as a response to the shift in workplace habits and a way
for cash-strapped companies to increase head count without taking
more space, are open-plan offices all theyre cracked up to be?

Im in favour of open-plan offices because it is important for people to

interact and communicate with colleagues quickly and easily. As soon as you
create physical barriers between them they start to become insular. Having
worked in all types of offices, including those with partitions between each workstation,
I found you could be in the next cubicle to someone and they would email you, which I found
daft. When thats happened Ive stood up and said: Hello, Im here talk to me.
Productivity can suffer in partitioned offices because time is wasted walking to someones
office to discover theyre not there, or waiting for calls or emails to be returned. In an openplan environment you can see instantly who is busy talking
to someone. You get a lot from someones expressions or
SIMON RAWLINSON MRICS, HEAD OF STRATEGIC
mannerisms to judge when is a good time to approach them.
RESEARCH, EC HARRIS
Open plan works particularly well for start-up companies
when rapid decisions have to be made. Information needs to
Open-plan offices can be bad for productivity if they are
be shared quickly, with whoevers managing the finances as
not carefully designed to meet the needs of the occupants
much as those driving the business. In the construction
and the business. For people to be able to work effectively in an open-plan
world, regulations are being updated all the time and an
set-up, several criteria need to be considered, such as good acoustics to
open-plan office allows that information to be passed
control background noise. If volume levels are too high, people will find it
instantly between team members.
difficult to concentrate. Conversely, when colleagues need to work together
However, the downside to ease of collaboration and
in groups that might involve noisy collaboration, their meetings will be less
discussion is that not everyone is able to block out noise and
effective if theyre hampered by concern over disturbing their neighbours.
distractions in order to concentrate. We all have different
An understanding of good design is important. Ceilings, for example, can be
sensory strengths. Those who respond best to visual stimuli
adapted to dampen noise levels but retain a buzz.
find blocking out noise easier than auditory people who are
Another contributor to reduced productivity in open-plan set-ups is a
more sensitive to sound. Its important for open-plan offices
lack of space per workstation. One of the most pressing challenges
to include pods or meeting rooms that are always accessible
concerning office space is that suppliers are trying to reduce the number of
to those who need them.
square metres allocated per person. If the occupants dont feel comfortable
with the quality of their workspace, then lower productivity is the result.
The reality is that open plan is only part of a range of work settings needed
Open plan or closed off? Whats your view?
by
modern businesses. Its absolutely essential to provide flexible spaces if
Join the discussion on LinkedIn at rics.org/
we
want to maximise effectiveness. We need facilities for group working,
linkedin, or tweet using #RICSmodus
and quiet spaces for focused work, such as small hive units. Within an
open-plan setting, breakout spaces can also be highly effective for informal
meetings, breaks from intensive work, or social interaction. And the denser
the occupation, the greater the requirement for high-quality space and design.
06 RICS.ORG/MODUS

ILLUSTRATION JOHN DEVOLLE INTERVIEW CHERRY MASLEN

KAREN HALLER, COLOUR PSYCHOLOGY AND DESIGN CONSULTANT

277

2004-2014
26%

Intelligence
1994-2004 41%

21%

1994-2004 40%
TOP FOREIGN INVESTORS
IN US REAL ESTATE

10%

9%

Canadian investment in 2014 was

one of the largest cross-border
capital flows in the world
Source: Real Capital Analytics/CBRE

7%

Canada

Others

1994-2004 38%

Norway

21%
1994-2004 41%

A new research report and online

tool is now available to help
built environment professionals
understand climate change risk
and plan ahead %
to reduce its
detrimental impact.
The RICS research report
and online tool aims to help
built environment practitioners
in eight European countries
determine the risk and impact
that climate change could have
on commercial buildings, and
select strategies to reduce
climatic impact and retain value.
The Climatic Risk Toolkit
provides industry practitioners
with practical tools to help
them anticipate the risks that
climate change may pose to
commercial property.
82%
Written by Sturgis Carbon
Profiling, the report focuses
%
on eight countries:
Germany,
82
France, the UK, Ireland, Spain,
Greece, Sweden and Norway.
The research looks at who
climate change will affect, what
the likely energy demand will be,
potential operational costs and
levels of carbon emissions for six
types of buildings: offices, retail,
schools, hospitals, warehouses
and buildings used for leisure.
Juan Lafuente, head of
research for Sturgis Carbon
Profiling, commented: The main
objective of this toolkit is to help
building professionals ensure
profitable investments and
mitigate climatic risks.
Many countries will be focusing
on their commitment to climate
change throughout 2015
Government
because the
United Nations
and world governments will
meet in Paris at the end of this
year to approve a new global

79

Italy

5%

5%

3%

3
1994-2004
40%
%

254%

Germany Switzerland Singapore Hong Kong South Korea

DATA CENTRES

Online toolkit launched to

calculate climate change risk

Japan

2004-2014

rics.org/modus

INFOGRAPHIC IAN DUTNALL

China

26%

NEWS
IN BRIEF

260%

2004-2014

12%

AMSTERDAM TAKES BYTE OUT

OF MARKET
1994-2004 38%
%
2004-2014

12%

10%

1994-2004 40

277

The rapid growth in cloud

%
260
7 technology and services continues

9%

2004-2014

5 market, notes
5
to drive the
CBRE. 3%
Technology, media and telecoms
%
1994-2004 38%
(TMT) businesses accounted for
2004-2014
80% of transactions alone. This,
alongside improving
% corporate
confidence, is driving new interest
for data centre services from the
%
sector, as dedicated%
cloud providers
%
1994-2004 41%
% require
2004-2014
more capacity.
Andrew Jay MRICS, EMEA%head
Amsterdam reported the highest
DUTCH FASTER
28%
26%solutions 23
79%Equinixs demand for multi-tenanted data
of
data centre
at %CBRE,
%
64
Amsterdam
%
% with a record
%
1994-2004
40 in Europe
said: Last year ended
centres
last year46
%
49
2004-2014
data centres
153MW of availability across the
the first time any market has
can connect to
major European markets. This
outperformed London since 2004
80% of Europe
Italy within 50
Poland
Spain
Greece
France
UK
Germany
growth
according
to research from CBRE.
%
% can be attributed in part to
1994-2004 38
milliseconds
2004-2014
new facilities opening, most notably
Last year, 22MW of customer
in London and Frankfurt. London
IT power was sold in Amsterdam,
remains the most sustainable
a 97% increase on 2013, and onemarket in Europe,
while Frankfurt,
third
of
the
European
total
for
the
82%
INDIA
84%
as the eurozones financial
year (66MW).
powerhouse,
provides high levels of
A multi-tenanted
or colocation
CHINA
70%
82%
%
connectivity and is leading the
data centre,INDIA
provides companies
84way
US
60%
41%
in data protection across the EU.
with space
for servers
and other
28%
hardware,
UK while a service52%
43%
26%
79% computing
%
%
WHAT ARE THE ISSUES
affecting
the
provider manages
the building,
CHINA
70
64
%
%
CANADA 49%
49%
of the data centres market?
cooling,
power, bandwidth
and 47 46growth
82%
physical
48% Discuss on LinkedIn: rics.org/linkedin
40%security.JAPAN
%

3%

254

28

64

Poland

26%

277

49

46

Spain

Greece

260

France

254

US

%
41
Italy

Poland

54

GERMANY
UK

50%

FRANCE

42

Government

49

RUSSIA

THE DATA

43%
%

Spain

CANADA
SPAIN
26
%

82

82%

40%

42%
Source: 2015
Government
Edelman Trust
Barometer

54%

FRANCE

50%

26%

INDIA

UK

GERMANY
40

50

42
SPAIN
%

26%

60%

Greece

France

UK

82%

23%

Germany

Business

43%

43
RUSSIA
49%

Italy

45%

CHINA

UK

HOW MUCH TRUST52

DOES A NATIONS POPULATION
HAVE45IN
% GOVERNMENT AND BIG BUSINESS?

JAPAN
41%

54%

45

79

US

CANADA
JAPAN
RUSSIA
GERMANY
FRANCE
SPAIN

47%
48%
45%

84%
70%
60%

52%

47%
%
48%

45

%
45
%

45

Business
Business

45%

43%45

Business

43%

Government
Government

M AY 2015_MODUS 07

Trust is an elusive commodity. We crave trust, yet

sometimes fail to recognise the need to work at being
trustworthy through our everyday actions

he rhino suddenly appeared. Our

driver, recognising the signs of a
mother protecting her calf about to
charge, swiftly shifted the jeep into gear
before we, the happy and oblivious tourists,
had even finished taking our pictures.
That I am writing this on my return from
an amazing trip to the Assam region of India
should reassure readers that our party did
survive being charged by a rhino. We had
put our trust in our tour guide and driver to
both show us the sights and deliver us
safely. And our trust was not misplaced.
Their business depended upon their reputation for
trustworthiness, as, indeed, did our lives.
While often not as dramatic, business has always
depended upon trust and goodwill for commerce to
flourish. Indeed, the word credit has its origins in the
Latin credere:to trust, entrust, believe. If trust is eroded
by dishonesty, greed, mismanagement, poor customer
service businesses fail. But calls for an increased trust
in business miss the point trust needs to be earned.
There was once a time when business leaders could just
tell society, trust me to do the right thing, and they
would. Then, after increased regulation and pressure from
investors, companies were asked to show they were
working to ethical standards through their own reporting.
But we did not choose the tour company because they
said they were trustworthy we needed proof, reviews,
recommendations, that we would be safe in their hands.
Since the collapse of the financial markets, there is a
growing demand for businesses not only to say they are
ethical, but to prove that ethical values are embedded in
their organisation. Companies that aim high know the

08 RICS.ORG/MODUS

benefits of working ethically, but how can they ensure an

ethical culture pervades everything they do? Initiatives such
as Investing in Integrity a charter mark to which companies
can adhere go some way to measuring an organisations
ethical standards against its own code of practice, helping to
identify whether or not they are truly living up to their
values, from the boardroom down to the staff canteen.
Reputations are based not only on a companys delivery
of its products and services, but on how it values its
relationships with its stakeholders. Does it treat employees
with dignity and respect? Does it support them to do
the right thing? Does it treat its customers fairly? Does it
pay suppliers on time? Is it open to dialogue with local
communities? Does it acknowledge its responsibilities to wider society? An
organisation that fails to treat these stakeholders fairly cannot be trusted at all.
Ethical values need to be put at the heart of the way an organisation conducts
its business. Compliance is not enough, it is the spirit of doing business
ethically that needs to be embedded within day-to-day activities. Investment
must be made in training all staff, from the board down, in what it means to be
ethical and to consider ethics when making decisions. Providing training can
not only equip staff with the practical tools to solve ethical dilemmas, but also
make them aware of ethical issues which may arise.
Many companies make the mistake of only tackling ethical behaviour once a
problem has arisen. A reputation takes years to build, but can be lost overnight
following an ethical lapse. Talking about ethical issues and training staff can
help to encourage an ethical culture in which employees do the right thing,
because it is the right thing to do.
A healthy, trustworthy culture is the basis of a sustainable business in the
long term. Trust is an elusive commodity. We crave trust, yet sometimes fail to
recognise the need to work at being trustworthy through our everyday actions.
All of us who are in business need to make sure we are worthy of respect. That
we can be trusted to do the right thing, when the rhino charges.
FOR MORE INFORMATION about guidance provided by the IBE, visit ibe.org.uk

ILLUSTRATIONS ANDREA MANZATI, MARK BOARDMAN

PHILIPPA FOSTER BACK CBE DIRECTOR, INSTITUTE OF BUSINESS ETHICS

Prime
arable

HOW DOES YOUR

FARMLAND VALUE GROW?
The average price of prime British
arable land rose to almost
10,000 an acre in 2014
Source: Savills

Poor
grassland

All types

NEWS
IN BRIEF

%
1994-2004
1994-2004 41
41%

2004-2014
2004-2014

%
1994-2004
1994-2004 40
40%

2004-2014
2004-2014

%
1994-2004
1994-2004 38
38%

2004-2014
2004-2014

277%

Intelligence

260%

254%

WE LIKE

rics.org/modus

INFOGRAPHIC IAN DUTNALL IMAGE 2015 VERTEX MODELLING

Climate change toolkit launch

pact that will replace the Kyoto
Protocol. The new climate deal
would be legally binding and
commit signatories to reduce
CO2 emissions by 60% below
2010 levels by 2050.
Ursula Hartenberger, RICS
Global Head of Sustainability,
commented: This report and
the toolkit provide much-needed
insight into how property and
construction professionals can
future-proof new and existing
buildings against climate
change. The interactive toolkit
is especially useful because
it provides a simple means of
forecasting the likely outcomes
up to 2050.
A range of stakeholders,
including surveyors, clients,
design teams and investors,
can make more informed
decisions about the most
effective measures to reduce
their climate risk, because
they understand the effects
climate change could have
on their assets.
The report is accompanied by
an online calculator called the
Climate Risk Toolkit, which allows
the user to determine whether
a building is likely to be climate
resilient. It is also able to predict
the likely carbon emissions levels,
energy demand and utility bill
costs. This interactive tool has
been tested by a number of
surveyors and is practical and
simple in its application.
The report incorporates case
studies of real buildings in cities
across Europe to illustrate the
kind of information the Climate
Risk Toolkit can generate.
DOWNLOAD the research at:
rics.org/climaticrisk

%
79
79%

%
28
28%
%
64
64%

FORWARD
PLANNING
Proposed
Italy
Poland
Italy
Poland
developments
are also shown
on the model,
helping
professionals
%
decisions
%
82make
82
based on
%
that
%
82structures
82
do not yet exist
%
41%
41

49
49

46
46

Spain
Spain

Greece
Greece

%
%

Government
Government

%
23
23%

%
%

France
France

INDIA
INDIA
CHINA
CHINA

Germany
Germany

%
70
70%

US

UK
UK

UK
UK

%
84
84%

%
60
60%

VUCITYUS

%
43
43%

%
26
26%

%
52
52%

Whats that? Covering an incredible 80 km2 (31 square miles) of central

%
%
%
47
49
London, itCANADA
is perhaps the first
CANADA
47% ever fully interactive 3D digital model of the
49
capital.
Created
by
agency
Wagstaffs
Design, and 3D modellers Vertex,
%
%
%
JAPAN
48%
40
JAPAN
40
London has
been rendered 48
in exquisite block detail for users to view, zoom
%
%
and rotate
around buildings,
RUSSIA
45
54
RUSSIA
45% streets and landmarks. The model could
54%
change the way developments
are planned in complex urban locations.
%
%
45
50
GERMANY
45% the existing built environment, the VUCITY
50% How so?GERMANY
As well as displaying
%
%
model
helps
property professionals
to see what doesnt yet exist, by
FRANCE
45
42
FRANCE
45%
42%
Business
Business
overlaying proposed developments to see
them in context. This could help
%
%
%
SPAIN
%
SPAIN
43more
26
them26
make
key decisions43
accurately and rapidly than was previously
possible, says Jason Hawthorne, managing director of Wagstaffs. It is not
that long since planning applications only required site maps and elevations.
Now no planning department will accept an application without CGIs.
Because the model uses a standalone viewer that runs independently of
any other software, it can be used on all platforms from touchscreens, to
video walls, tablets or desktop computers. Hawthorne believes the modelling
technology has the potential to be applied to any city. We are working on a
model for Manchester, and would welcome suggestions for others.
vuitnow.com

ONE THING I KNOW

Is spending 14
hours a week on
400 emails really
a productive use
of our time?
ANDREW FALLOWS
FRICS Partner and
head of the national
farms and estates
team, Carter Jonas
Is spending 14 hours
a week on answering
400 emails really a

productive use of our

time as professionals?
Where is our time to
focus, and think about
the bigger picture?
I strongly believe that
hiding behind a screen
is stifling productivity
and creativity in
our workplace.
So, for one day a
week, I encourage
my team to have a
project day by turning

off their email, and

putting their phones
to out of office. Its
time to spend with a
client, or generate fresh
ideas with colleagues.
Fulfilling an ambition
greater than reaching
the bottom of an
email pile will make
us all strive to stretch
our skills further in
this increasingly
competitive industry.
M AY 2015_MODUS 09

SECRET SURVEYOR

rics.org/modus

The recession caused me to re-evaluate my past experience

and I now work for a specialist accommodation provider

New-look support for UK

small businesses on SME Hub

efore I became a building

surveyor I worked as a
psychiatric nurse. For
years this did not figure highly
on my CV, but the long recession
caused me to re-evaluate my
experience and, as a result, I now
work for a provider of specialist
accommodation for people
with dementia.
The hospital in which I worked
as a nurse some 30 years ago was
built by the Victorians and had
hardly changed since then. Each
ward had two neat rows of beds,
everything was painted an
institutional grey and heavy
doors were locked with keys
the size of my hand. Dementia
sufferers who had been to
boarding school often reverted
to that time in their minds, as it
must have been quite similar.
The contrast with the
accommodation where I now
find myself working could hardly
be greater. Its individual en suite
rooms and a shared lounge and
kitchen are more redolent of a
student hall of residence than a
medical facility. The unobtrusive
design of the building makes it

Our recently refreshed small

business hub provides essential
information to help UK sole
practitioners and RICS members
who run small practices manage
their business. Coverage includes
practice management, legislation,
regulation and personal
indemnity insurance (PII).
The small business hub is an
excellent tool for SMEs [small
and medium-sized enterprises]
and provides lots of information
in one place it saves valuable
time when searching for the
help you need and Id definitely
recommend it, commented
Dayle Bayliss FRICS, founder
of Dayle Bayliss Associates.
RICS members can also
download a series of fact
sheets that cover starting a
new business, developing a
business plan, practice finance,
business development and
people management. UK
members can visit rics.org/
smehub for more information.
New RICS Scotland office
sets SKA Gold standard
The RICS Edinburgh office is now
located at 125 Princes Street,
after the conclusion of a six-week
fit-out process that helped the
premises achieve a SKA Gold
classification the highest
award under the rating scheme.
The fit-out was completed
within six weeks using sustainably
sourced materials, combined with
energy-efficient lighting, heating
and ventilation systems.
Sarah Speirs, RICS Scotland
Director, said: The team is really
pleased with the new RICS office
in Scotland and our new premises
include a members lounge,
lecture theatres and beautiful
views over Edinburgh Castle.
We achieved a 98% diversion of
waste from landfill and an 85%
reduction in carbon footprint
during construction.

10 RICS.ORG/MODUS

easier for people with impaired

cognitive function to stay safe
as they go about their lives.
The idea that buildings can be
designed around the needs and
abilities of people with dementia
is a fairly new one. The suggestion
that public buildings and spaces
should be designed with this in
mind is newer still and seems to
meet with some resistance.
Dementia directly affects 1.3%
of the UK population and this is
predicted to rise to 1.9% in 10
years time. This is comparable
with the 2% of the population
who are wheelchair users.
UK government statistics
recently recorded that, at any one
time, up to 25% of all Britains
hospital beds are occupied by
dementia sufferers admitted
as emergency cases, and the
biggest cause of these admissions
is falls. If a bit of care taken in the
design of buildings could reduce
this figure, it seems like a
no-brainer to me.
ARE YOU INTERESTED in writing a
future Secret Surveyor column?
Email editor@ricsmodus.com

HOTELS

GERMANY IS LAST WORD IN LUXURY

CHECKING IN
Healthcare
group Asklepios
bought luxury
Hamburg hotel,
the Atlantic, in
December

Hotel investment in
Germany last year
jumped by a record
82% over 2013, reports
Colliers International,
with transaction
volumes totalling
3.1bn (2.2bn).

International buyers
were the most active
investors in the
market, generating
nearly two-thirds of
the total transactional
volume. Activity was
particularly strong
in the luxury hotels
market, which
recorded transaction
volumes of 965m
(685.3m, or 31%).
This is a year-onyear increase of 13
percentage points
within this sectors
share of the total
volume of hotels
transacted.

We expect these
results to be more
than just a one-time
occurrence, said
Andreas Trump MRICS,
head of research at
Colliers Germany.
Supply is scarce,
especially from largescale portfolios, which
will limit transaction
volumes and possibly
affect prices. However,
if sufficient real
estate products do
become available,
we can expect a
transaction volume
of more than 3bn
(2.1bn) this year.

IMAGE GETTY

NEWS
IN BRIEF

Intelligence

EUROPEAN SHEDS ARE

THE COMPLETE PACKAGE
The boom in online retail is pushing the
European logistics market to dizzying
heights. Up to 94m ft2 (8.7m m2) of space
will be required across Europe by 2020 to
service demand from internet and food
retailers, reported Savills, and the demand
for space means annual revenue is at record
levels. JLL recorded investment volumes
of 21.1bn (15.5bn) in Europe last year
a 28% rise on 2013. While this figure was
dominated by early online adopters the UK
and Germany accounted for 54% of this total
alone Savills expects future growth to be
driven by eastern and southern Europe. If only
Amazon sold shares in industrial developers.

M AY 2015_MODUS 11

L E A R N

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N E T W O R K

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things electrical
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practices over the past 17 years and are still being enjoyed today.

12 RICS.ORG/MODUS

26/03/2015 16:48

Intelligence
WHICH COUNTRY HAS
THE MOST HOME BIRDS?

28%

79%

64

Proportion of people aged

18-29 living with their parents
in selected EU countries
Source: Eurofound

Poland
Poland

Italy
Italy

49

46%

Spain
Spain

Greece
Greece

26%

France
France

UK
UK

23%

Germany
Germany

FUTURE TRENDS

BRE TRUST TACKLES

URBANISATION ISSUES

82%

INDIA

84%

CHINA
70
82
What are the complex challenges facing
urban development in the 21st century, as
%
%
US
60
41
the global population and urban migration
UK
52%
43%
continues to rise? That is the subject of a
new report published by the BRE Trust.
CANADA
47%
49%
The UKs largest charity dedicated to
research and education in the built
JAPAN
48%
40%
environment collaborated with more than
RUSSIA
45%
54%
70 organisations on the three-year future
cites research, which explored four critical
GERMANY
45%
50%
components: smart cities supported by
life-enhancing technology, liveable cities
FRANCE
45%
42%
Government
Business
that underpin good quality of life, healthy
%
%
SPAIN
43
26
cities that support wellbeing and equality,
and resilient cities that can withstand and
LOUISE BROOKE-SMITH FRICS RICS PRESIDENT
mitigate extreme weather, natural disasters,
Whenever I welcome guests to Parliament Square, I tell them that
STRAIGHT UP
social upheaval and security threats both
Ethics goes to
physical and cyber.
it is home to a profession founded on ethical as well as technical standards.
the heart of
Key research projects carried out under
Ethics can appear disarmingly simple to define and typically follow
maintaining
these themes included: developing an
members
something along these lines: A social, religious, or civil code of behaviour
urban circular economy; developing a
reputations.
considered correct, especially that of a particular group, profession, or
But are ethical
healthy cities index to understand and
individual. But what might seem straightforward for dictionary writers can
standards
improve the impact of the built environment
being eroded?
be a difficult concept in practice. Potter Stewart, a former associate justice
on health; city-wide energy optimisation;
Or is the desire
of the US Supreme Court, said simply that:Ethics is knowing the difference
the impact of air pollution; new approaches
to maintain
between what you have the right to do and what is right to do.That just about
them growing?
to refurbishing existing housing stock;
captures it for me.
future city modelling using open BIM
Deep within us is a sense that the right thing can somehow be defined.
standards; cyber security; and digital
interoperability the creation of standards
While this may be true, does our definition of ethics vary between societies?
and accreditation for fast-proliferating
Is it constant over time? And as business, technology, science and society
smart technologies.
make rapid advances, what are the implications for our ideas about ethics?
By 2050 there will be two and a half
I dont have the answers to these questions, but I do know that ethics have
billion more people living in cities, said
been at the forefront of the political and public discourse in recent years, for
Helen Pineo, associate director at BRE and
example the mis-selling of financial products, the apparent fixing of interauthor of the report. We must develop our
bank lending rates, abuse of public funds, and elements of the media behaving
urban spaces to meet their needs but the
irresponsibly and, at times, illegally. Are these a sign that ethical standards
challenges are significant: reduced public
are being eroded? Or is the widespread public disquiet proof that a sense of
sector finances, limited natural resources,
ethical standards, and a desire to maintain them, is actually growing?
climate change mitigation and adaptation,
For all professionals, ethics goes to the heart of maintaining their
and an ageing population. This research
aims to plug the knowledge gaps so we can
reputation. Clients and employers need to know they can trust professional
adopt an informed and strategic approach
advice. Trust underpins transparency and inspires confidence. We therefore
to growing and evolving our cities so they
need to define standards of ethical behaviour. These standards also have to
become even better places for people to
be understood and applied across geographical and societal boundaries. Just
live and work in our future depends on it.
as business, and every other area of human activity, become ever more
The outcomes of the research will help
interconnected, so too, our ideas about ethics, and their practical application.
develop tools, educational programmes,
It is why RICS is a founding member of the International Ethics Standards
standards and services for positive change
Coalition, and it is why we are working with the United Nations Global
in urban development.
Compact to develop a best-practice toolkit for responsible businesses to
respect human rights, observe labour laws and prevent corruption.
DOWNLOAD a copy of the report at
bre.co.uk/futurecities
Follow Louise on Twitter @LbsLouise
%

INFOGRAPHIC IAN DUTNALL ILLUSTRATION BERND SCHIFFERDECKER

Deep within us is a sense that

the right thing can be defined

M AY 2015_MODUS 13

trimble inSphere

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and simplify access to the information you needwhether thats project

data, public records, equipment utilization and location, maps, or anything in Trimble
InSphere
between. From start to finish, increase how fast you get the job done through
instant access and sharing. With Trimble InSphere, your entire organization
becomes more efficient. Anytime, anywhere.
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your organization with our free trial at www.trimbleinsphere.com
2015, Trimble Navigation Limited. All rights reserved. Trimble and the Globe & Triangle logo are trademarks of Trimble Navigation Limited,
registered in the United States and in other countries. Access, InSphere, and Terraflex are trademarks of Trimble Navigation Limited. All other
trademarks are the property of their respective owners. GEO051 (03/15)

14 RICS.ORG/MODUS

DATA
Data Marketplace
MARKETPLACE

TERRAFLEX
terraflex

ACCESS

triMble
SERVICES acceSS
ServiceS

tM

Intelligence

NEWS
IN BRIEF

SUSTAINABILITY

UK SOLAR ENJOYING BRIGHT PERIOD

AS WIND BLOWN OFF COURSE

rics.org/modus

Still time to vote in

Governing Council elections
A full list of candidates standing
for Governing Council, RICS top
decision-making board, is now
available online. Voting is open
until 15 May, go to rics.org/
gcelections for further details
on how you can vote.
Reminder: new health and
safety regulations now in force
UK members should be aware
that the Construction (Design
and Management) Regulations
2015 have been effective from 6
April and replace an earlier set
that were introduced in 2007.
The new regulations widen the
scope of projects where parties
have formal duties, and shift the
focus further to the design stage.
There is now a transitional
period before the introduction
of the new regulations for live
projects. For further guidance,
visit bit.ly/CDMregs2015.
Global roadshows to follow
RICS Futures launch
Attracting and developing
talented professionals,
sustainable future cities, ethics,
leadership and big data are some
of the key themes tackled by RICS
Futures. The project identifies the
opportunities and the challenges
facing the built environment and
related markets.
Based on extensive research,
RICS has outlined a set of actions
and these will be discussed at a
series of RICS Futures events
around the world. For more
information on how to get
involved, visit rics.org/futures
or email futures@rics.org.

IMAGE BELECTRIC UK

Royal appointment for

Annual General Meeting
RICS Annual General Meeting will
take place on Monday 29 June at
the Royal Garden Hotel, London.
Full details at rics.org/agm2015.

WOOLLY
MAMMOTH
A record
amount of
contracts were
awarded to
solar projects
last year,
among them
the UKs largest
solar farm at
Landmead in
Oxfordshire

Almost 2,000 renewable energy

projects, with construction
contracts worth 5.2bn, were
awarded in the UK last year,
reports construction data provider
Barbour ABI. More than 1.7bn
was committed to solar power
projects a record amount.
Renewable energy planning
applications increased by 26%
in 2014 compared with the year
before, continuing the trend of yearon-year growth in the sector. Solar
energy projects were found to
have had the biggest increase in
approvals year on year, increasing
by 59% on 2013. Furthermore, 611
solar farms with a value of more
than 100,000 were submitted

for planning in 2014, compared

with only three solar farms in 2010,
illustrating the rapid growth for the
solar sector over the last five years.
However, 409 renewable wind
projects almost half the total
amount submitted for detailed
planning were refused at the
planning stage, considerably more
than the average refusal rate of
12% across the construction sector.
Looking across the construction
industry as a whole, for wind
projects refusals to be running
at 45% demonstrates there are
clearly difficulties that range from
the size and scope of the projects
to public objections, commented
Michael Dall, lead economist at
Barbour ABI. On the flipside,
wind projects contributed to 44%
(2.27bn) of the total amount of
contracts awarded for renewable
energy last year, boosted by many
large-scale projects such as the
105m Corriegarth and 52.5m
Millennium South wind farms [in
the Scottish Highlands].
The value of the 409 wind
projects refused planning
permission in 2014 totalled
a planned spend of 1.58bn,
a significant figure to the
construction industry, added Dall.
Alongside the increased importance
of renewable projects to the UK
energy sector, more may need to be
done to look at reducing the refusal
percentage of wind projects.

PAGETURNER
LEADERSHIP AND SUSTAINABILITY
IN THE BUILT ENVIRONMENT
ALEX OPOKU AND VIAN AHMED
Good organisational
leadership from the
construction industry
is vital in our drive
towards a sustainable
built environment.
Opoku argues that the
real effect of legislation
and the guidelines
designed to promote

sustainability within
the construction
industry is closely
linked to the leadership
behind it.
The book identifies
the drivers, challenges,
leadership roles and
styles that influence
the promotion of

sustainability practices
on construction
projects worldwide. It
compares experiences
in different economies
and cultures, and could
serve as a guide to all
organisations that wish
to adopt sustainability
in construction.
ENJOYING A BOOK?
Tweet to let us know,
using #RICSmodus
M AY 2015_MODUS 15

UK election

16 RICS.ORG/MODUS

CHOOSE YOUR

COLOURS
With so little difference between the
main UK parties and voter apathy at
unprecedented levels, another hung
parliament looks likely. Would this
be good or bad news for the
built environment?
Words Mark Smulian Illustration Robert Frank Hunter

here is one thing the property

profession hates more than
anything: uncertainty over
the political environment.
After a close general election
in 2010 resulted in a Conservative-Liberal
Democrat coalition, even academic experts
are shrinking from predicting the outcome
when the UK goes to the polls on 7 May. A
second consecutive hung parliament would
be historically unusual, but the lower the
combined Conservative and Labour vote,
the less likely a majority government. Last
time it slumped to a post-war low of 65.4%.
All the main parties have said they want
to promote housebuilding and investment
in infrastructure, although they differ on
policy. And because planning is a devolved
function, a Westminster government has
limited influence outside England.
Labour appointed former Birmingham
City Council chief executive Sir Michael
Lyons to examine housebuilding and in his
review, published last year, he concluded
that 243,000 new homes a year are needed,
against the 109,000 currently being built.
Left unchanged, he added, this shortfall
would drive prices to unsustainable levels,
causing volatility in the national economy
and damage to growth by reducing labour
mobility. Lyons identified the causes as
an artificial scarcity of land and lack of
housebuilding industry capacity, making
the controversial suggestion that councils
should take power to tax plots granted

M AY 2015_MODUS 17

UK election

Labour has proposed a mansion tax on

homes worth 2m or more, designed to
raise 1.2bn a year for the NHS. The Lib
Dems propose additional council tax bands
for homes worth 2m or more, while the
Conservatives have no suggested changes.

planning permission which lie undeveloped

within a reasonable time, and gain wider
powers over land assembly. One suggestion
for maximising growth in output would
be to increase capacity through the
encouragement of smaller housebuilders.
Although Lyons called for strong
leadership from central government, his
recommendations were largely for local
action, where councils might not share his
enthusiasm. Indeed, recent cutbacks to the
resourcing of council planning departments
could hamper attempts to increase
building, as might the perennial problem
of public resistance to development.
The Conservatives say the coalition
supported the housebuilding industry with
Help to Buy, assisting 70,000 purchases,
and have confirmed they will extend the
equity loan part of this scheme to 2020,
designed to provide 120,000 further
mortgages. Prime minister David Cameron
told the Conservative Party Conference
that, contrary to critics predictions, the
policy had not caused a housing bubble
and would once again position the Tories
as the party of home ownership.
Not words that left much room for
retreat. The Tories also said they would
deliver 10,000 new homes at below-market
rent and 100,000 homes for younger firsttime buyers by 2020. Reacting perhaps to
public concern about the impact of buy-tolet landlords and wealthy foreign investors
on the market, Cameron said that neither
group would be able to take advantage of
the schemes, and that they are aimed at
first-time buyers under the age of 40.
However, any cross-party consensus on
the importance of building new homes is
not shared when it comes to property tax.
18 RICS.ORG/MODUS

ust as Cameron has closely identified

himself with Help to Buy, so shadow
chancellor Ed Balls has nailed his
colours to the mansion tax mast, such that
any post-election abandonment would be
embarrassing, even if those wealthy enough
to be affected do mount troublesome
resistance. Balls told the British Chambers
of Commerce conference in February this
year: I dont expect people with houses
worth over 2m to celebrate paying an
extra 250 a month to help us secure the
future of our National Health Service.
But when high-value properties are so
relatively under-taxed and when our NHS
is under such pressure, it is an important
part of a tough, but balanced, plan.
What should the property industry
make of all this? Liam Bailey MRICS, head
of residential research at Knight Frank,
says: The real issue is uncertainty. No
doubt if a mansion tax were imposed it
would have an impact on values. Even in
London the market for properties above
2m has slowed compared with that for
properties priced below 1m. The market
may more easily absorb the Lib Dem
proposal for higher council tax bands.
Lucian Cook MRICS, director of
residential research at Savills, feels that
last autumns changes in stamp duty have,
for the most part, dealt with issues of
fairness and, if its a matter of fairness in
the council tax system, then thats how to
deal with it, not with a new tax.

I fear all parties will

avoid facing up to
development on green belt
land and how to finance
social housing. We wont
tackle the housing crisis
without addressing both

ll

ll

MARK CLARE FRICS Barratt Developments

While the banks remain cautious about

mortgage lending after the debt crisis and
with the public sector short of funds,
Cook expects all parties to promote an
institutionally backed private-rented
sector: It will be important because many
people do not have easy access to either
owner occupation or social housing. All
parties need to look to the planning system
so that people who want to build for private
rent are not always priced out by those
wanting to build for owner occupation.
Philip Barnes, Barratt Developments
group land and planning director, also
expects private rented to be a growth
market: I do see a potential for expanding
private rent in some areas. Its unlikely that
Barratt would become a landlord but we
could build for those that are, or perhaps
enter joint ventures.
Wishing to build homes will not make
public resistance to development go away.
This is despite the coalitions attempt to
win voters consent for housebuilding
through the New Homes Bonus, which in
theory raises money for public amenities
from each home built.
David Henry FRICS, director of planning
at Savills in Cambridge, foresees problems.
When you get site-specific it is hugely
sensitive, he says. You can be a winner
saying build more homes, because people
are concerned about where their children
will live, but a loser on where you build. It
is hard to square.
Henry thinks the bonus had little impact
because the public saw no link between
the money raised and the visible benefits.
Hilary Benn, shadow secretary of state for
communities and local government, has
said Labour would reallocate the bonus
funding, without stating how. He branded
it complex, regressive and ineffective,
suggesting that it moves local government
funds from areas with little housebuilding
into those with burgeoning development.

Mark Clare FRICS, group chief executive

of Barratt Developments, fears that, for all
their purported enthusiasm for building,
the politicians are ducking two issues vital
to delivering homes. Although the National
Planning Policy Framework (NPPF) and
Help To Buy have helped drive planning
permissions to their highest level since
2008, Clare warns: I fear all parties will
avoid facing up to development on green
belt land and how to finance social housing.
We wont tackle the housing crisis without
addressing both issues.
Calls to ease the restrictions on the
green belt would normally spur demands
for radical planning reforms, but the loud
silence on this suggests the coalition got
the NPPF right. Cook says: It can be argued
the NPPF should be allowed to bed down,
as upheavals in the system would increase
uncertainty and discourage housebuilding.
Barnes says that Barratt would not want
to see any significant changes to the NPPF.

ll development depends on
appropriate infrastructure, and
Richard Threlfall, UK head of
infrastructure, building and construction
at KPMG, says the next governments
spending ability will be limited by
continuing austerity and commitments
to protect health and education spending.
Despite this, Threlfall is quite optimistic
that support for the capital budget will be
protected. However, as only about 30%
of infrastructure spending comes directly
from the government and the other 70%
is mainly through the regulated utilities,
he adds: What matters more than the size
of the governments capital investment
is whether it has policies that attract
investment to pay for the other 70%.

M AY 2015_MODUS 19

UK election

Saying we will spend less

on doctors and schools to
build houses and roads is
a very difficult argument
for a politician to make

ll

ll

TONY TRAVERS London School of Economics

Threlfall says continued free movement

of trade, capital and labour is vital not
least to provide a skilled workforce to meet
the construction industrys demand.
Business does not want uncertainty
on this, and it certainly does not want
the UK leaving the EU, he adds.
All these issues interest the industry, but
does housing, planning and infrastructure
move voters? Rocketing prices, around
London in particular, have produced
politically damaging complaints that
young people cannot afford homes.
Television election analyst Professor
John Curtice, of Strathclyde University,
says: There has been a social change that
the coalition hasnt been able to do much
about, which is that young people are
finding it hard to enter home ownership
and have no option other than to rent. That
raises questions about the cost of living
crisis as part of the political agenda. Just
talking about housing doesnt have much
traction with voters, but framed as my
children cant afford to buy a home, what
are you doing about it?, certainly does.

Professor Tony Travers, an expert in

local government at the London School
of Economics, says: Polling suggests the
public do not blame the government for
housing problems, and see it more as a
market and planning failure. The problem
is, if you are going to increase capital
investment you have to cut consumption.
That means saying we will spend less on
doctors, schools and pensions so we can
build houses and roads and railways,
which is a very difficult argument for any
politician to make.
Both professors foresee another hung
parliament. If they are right, the industry
can only hope that a further five years in
limbo will not ensue. n
THE UK GOES TO THE POLLS on 7 May. For
RICS pre-election requests and post-election
reaction, go to rics.org/propertyinpolitics

POLICY

RICS drives the agenda with Property in Politics

RICS undertook its largest ever
consultation among its English
members to shape Property in
Politics. Its recommendations
to an incoming government
cover driving growth in housing,
infrastructure, construction and
associated planning issues.
n In common with most built
environment organisations,
RICS seeks no further
upheaval to the National
Planning Policy Framework.
Its main idea in planning is
the creation of an amberfield
20 RICS.ORG/MODUS

category of land for sites

deemed ready for sustainable
development to give investors
more certainty.
n Local authorities should
become required, rather than
encouraged, to have adopted
local plans, on pain of being
placed into special measures
by the Planning Inspectorate.
n RICS recognises that
a shortage of council
planning staff has created a
development bottleneck, and
is calling for a government-led

resource revolution in planning

departments to boost capacity.
n To increase housing supply,
RICS proposes Development
Delivery Units, jointly financed
by the public and private sectors
and armed with compulsory
purchase powers, to promote
new homes and infrastructure.
n Certainty for investors is
essential and so RICS will seek
guidance within 100 days from
a new government on property
taxation, so that goalposts are
not later moved.

n RICS also urges the growth

of the professional, privaterented sector with simplified

and targeted regulation.
n A National Infrastructure
Delivery Plan would ensure
projects progress according to
priorities rather than a next in
queue basis, with delivery
partnerships modelled on that
for the London 2012 Olympics.
n An Infrastructure Commission
would identify long-term
strategic needs and monitor
their progress.

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M AY 2015_MODUS 21

HOWDY,
22 RICS.ORG/MODUS

Modus_May15_P22-27_Partnering_v6.indd 22

10/04/2015 15:40

PARTNER

Forming a global alliance can extend your companys reach overseas.

But how do you ensure your businesses are right for each other?

Modus_May15_P22-27_Partnering_v6.indd 23

M AY 2015_MODUS 23

10/04/2015 15:40

A
Words Roxane McMeeken

FACE TIME
London-based Alinea
partner Steve Watts
MRICS (left) and his
opposite number in
New York, Dharams
Andrew Smith
(previous page)

24 RICS.ORG/MODUS

strong and well-managed affiliation with a

firm in another country can open up all sorts
of opportunities for surveying businesses
large and small and without the expense
and risk of an acquisition.
The typical international alliance brings
each of the two parties a different type of
benefit. Usually a larger business gains a
foothold in a new market via a smaller, local
firm, which in return for its local contacts
and expertise gets to draw on its partners
deeper resources, broader range of
experience and global reach.
Without international alliances, we
would not have grown into the global entity
that we are today, says Peter Victor, senior
managing director at Cushman & Wakefield.
But he warns: An alliance brings just as
much potential downside as upside because
your partner is carrying your flag in another
country. This is why we choose our partners
extremely carefully and pay a huge amount
of attention to these relationships.
The American firms first alliance was in
1990 with London property practice Healey
& Baker, which led to a merger. In the
following four years, Cushman formed
partnerships with real estate companies in
Asia, Canada, Europe, Mexico and South

America and its alliance programme

continues. Victor says: If its done well it
allows a company of modest size to punch
way above its weight while the larger firm
gains local knowledge, which we have found
is fundamental to succeeding overseas.
So why not acquire the foreign partner
and lock-in that knowledge?Our clients are
often going into multiple cities but only on
rare occasions, so it doesnt make sense for
us to set up an office and base members of
staff there permanently, Victor says. For
these sorts of places its much more efficient
to have a local partner.
Savills, which also has alliances all over
the world particularly with smaller,
residential agents has a slightly different
reason for forming its own tie-ups.
Jeremy Helsby FRICS, group chief executive,
explains:Usually we form an association in
a market that is too small to warrant an
owned office but where we still want a
presence because the market is high profile,
such as Venice or Ibiza.
However, an alliance can be the perfect
prelude to an acquisition. Each party can
assess whether it can really work with the
other and if collaboration would result in
increased turnover and profits. Victor says:
In theory, we would always hope that an
alliance would lead to an acquisition because
you only want to work with a company that
would be good enough to acquire.
A fruitful international affiliation can also
be formed between two more equally aligned
partners. London-based Alinea, a 50-strong
construction cost consultancy launched by
former Davis Langdon partners in May 2013,
has formed an alliance with Dharam
Consulting in New York. Alinea partner

PORTRAITS OLIVIER HESS (LONDON) GRAHAM MACINDOE (NY)

Xxxxxxxxx

Partnerships

Steve Watts MRICS, says:Dharams clients

are mostly architects, many of whom do
high-end cultural projects. Some are based
abroad but doing work in Europe one, for
example, is looking at a project in London, so
we can bring our knowledge to that client.
Conversely, we have been able respond to
requests from London-based architects
looking at projects in New York.
Andrew Smith, Dharams managing
director, adds: The two businesss coming
together is about extending our collective
reach, sharing expertise specific to either
geography. Our motivation is based on the
belief that we can support each other to win
high-value work and, as important, maintain
the strong ties and relationships that have
existed between us over many years.
While an alliance could bring benefits, it
all depends on finding the right partner. CK
Lau MRICS, international director, valuation
advisory services at JLL in Hong Kong, says:
We would normally go for a company that
we had already worked with, someone with
whom we have a first-hand relationship.
Failing that, you need a referral from a
business partner. You cant just go to a
companys website and read how good they
say they are.
In addition, the partners must share the
same quality standards. Andy Reynolds
FRICS is director at Rider Levett Bucknall,
which has alliances with 22 companies in
Europe and a cost consultancy in South
Africa. He says: Each of our selected
partners demonstrated high professional
standards, an excellent track record and
technical and internationally accepted

practices. This, he, says, ensures that the

company can deliver a seamless service.
However well you know your prospective
partner, it is essential to carry out your due
diligence. This is usually at a level below the
intense financial and legal checks that would
be done before an acquisition. Grant Sprick
is environmental leader for Asia at Arcadis,
which last November formed an alliance with
Shanghai-based sustainable technology
specialist Greenment. He says that due
diligence on any potential alliance partner
should cover three main areas: screening the
firms business practices to ensure that there
is no corruption, examining the quality of its
work by reviewing its projects and talking to
its clients, and engaging with the companys
team.Go to dinner and see if you really have
a rapport. See if you can develop what in
China they call guanxi, which means
connectedness. Here, this is more important
than experience or technical expertise.
Sprick recommends ensuring that the
goals of both parties complement each other.
Our alliance with Greenment makes sense
because Arcadis is looking to expand in Asia
and, while we have great relationships with
large corporates, we lacked them at a local
level in China. Greenment has those
relationships, so it opens doors for us.
Meanwhile, Arcadis has multinational
clients moving into China, to which
Greenment now has access.

he structure of the alliance is the next

element that will determine how it
fares. Some partners prefer to sign a
contract, while others opt for a slightly
less formal albeit legally binding
memorandum of understanding. If the latter
is used the alliance may sign individual
contracts for each project they do together.
When it comes to the key clauses on how
the spoils will be shared, Helsby says that
Savills takes different approaches depending
on the partner. These are based broadly on
either a percentage of revenues to be paid to
Savills, underpinned by an annual license

Go out to dinner and see

if you have a rapport. See if
you can develop what here
in China they call guanxi,
which means connectedness.
Here, this is more important
than technical expertise.

IMAGES GETTY; MAGROUND

ll

ll

GRANT SPRICK Arcadis

M AY 2015_MODUS 25

Partnerships

fee, or a fee sharing agreement to be applied

to all referred business. If its a very small
business their turnover might be low, so we
would probably prefer to receive a fixed fee.
If we are going to receive a percentage of
turnover or profit, it gets more complicated
because you have to go through their books.
Others divvy up fees on a project-specific
basis. Sprick says:Our approach is based on
who owns the relationship. If Greenment
brings an opportunity to the table they take
the lead and Arcadis supports, and vice
versa. We then get together and develop a
project structure for the case, including a
plan for staffing, the main client contact and
fees. It can be more onerous but I think its
worth it, as it builds trust between us.
Alliance contracts commonly stipulate
some degree of exclusivity. Typically the
global practice agrees not to work with the
rivals of the local firm, which in turn agrees
to only team up with the one international
ally. Contracts also require confidentiality.
Watts says: What we share must stay
within both firms, whether its client
information, benchmarking data or insight
into construction processes and costs.
Helsby also usually asks that if the partner
should decide to sell up, Savills has first
refusal on the acquisition. This can entail
taking an equity stake in the alliance partner
in due course, he says.

nce the contract is signed, ongoing

communication will be required.
Sprick says: I have weekly
meetings with Greenment to discuss client
opportunities, potential collaborations
between our staff members, conferences we
should be speaking at and so on. You have

If your partner does not

have good English you
cannot underestimate
how much trouble this can
cause. So explain everything
you need from day one

ll

ll

CK LAU MRICS JLL

to force yourselves to sit down together

every week, otherwise youre in separate
offices all the time and you could end up
effectively forgetting to work together.
Lau recommends supporting any verbal
discussions with written confirmation.
With an international alliance there could
well be a language barrier, and if your partner
does not have extremely good English you
cannot underestimate how much trouble
this can cause. So get everything in writing
and explain what you need from day one.
After communicating an assignment it is
then vital to monitor how your partner
tackles it, Lau adds.I would send a colleague
to the service providers office, part time or
even full time, while also keeping track
myself remotely by email and phone calls.
Victor points out that the best way to keep
the alliance healthy is to make money
together. If things are slow then the
relationship becomes strained. So do all you

can to promote the flow of business and

collaborate on business development.
The icing on the cake is to find efficiencies
through working together, says Reynolds.
An example of where the RLB Euro Alliance
has achieved this is for an international retail
client. We have identified that four of our
partners are currently working for this client
separately in [different regions]. By bringing
them together and sharing their knowledge,
we have been able to create a European
service model that is now adopted and
recognised within each region. This has
improved the depth of coverage and delivery
for the client and created more opportunities
for the alliance partners involved.
Not all alliances work out. A contract
normally states what each party is expected
to bring to the partnership and allows one
party to end the relationship if the other is
failing to meet those expectations. Victor
says: We have just terminated an alliance
agreement [because] there was so little
business getting done between us that we
did not feel we were getting much out of it,
while we think we could be doing more
business in this country.
On the other hand, the alliance might be
so good that you are acting as one firm, says
Lau, in which case an acquisition becomes
an obvious step.
An international alliance, then, can allow
companies of all sizes access to new clients
and expertise, in a relatively efficient and
low-cost way. But like any relationship, you
should choose your partner carefully and
then both parties will need to work at it,
communicating regularly and each doing
what they promised. And ultimately, if its
not working, you may decide to split. n

TAKE SIX

Secrets of a successful alliance

A MEANINGFUL RELATIONSHIP
When choosing an overseas
alliance, be sure that it really will
lead to business. Savills Jeremy
Helsby says: Dont just do it to
get a flag on the map.
HAPPINESS JLLs CK Lau warns
against taking an adversarial
approach: To ensure that your
partner is eager and happy to
work with you, they must be
compensated properly.
26 RICS.ORG/MODUS

RESPECT Each partner must

respect and trust the other
and treat them with the same
professionalism that they would
a client, says Lau. This will help
to promote goodwill and ensure
that clients receive the same
standard of service.
EXCLUSIVITY MOST OF THE
TIME While both sides should
expect a degree of exclusivity,
there should be some flexibility,

too. If you try to restrict your

partner too much, they may not
be able to grow their business
and they may choose to drop
you altogether, cautions Lau.
MONEY Cushmans Peter Victor
suggests a flexible approach to
divvying up fees. Your feesharing agreement will apply in
nine out of 10 cases but a
situation may arise where one
side will be doing more of the

work than normal, so in those

cases it is fair to negotiate a
different fee arrangement.
COMMUNICATION Have a
strategy for informing clients
about the alliance. Arcadis
Grant Sprick recommends
developing a bespoke plan for
every client: Engage with each
client to look in detail at how
the alliance might deliver
something valuable for them.

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M AY 2015_MODUS 27

BUILDING TRUST IN

Despite its benefits being

widely trumpeted, take-up of
BIM has been slow particularly
in smaller businesses. Using
insights from behavioural
economics and incentive theory,
an RICS-funded research
project finds out why
Words Andrew Brister

28 RICS.ORG/MODUS

reater productivity, reduced costs and better

buildings for clients it is no wonder that
the big players in the construction sector are
wholeheartedly embracing BIM (building
information modelling). The UK government
is certainly convinced of the benefits and has mandated its
use across all public sector projects by 2016. The EU has
also recommended its adoption in its Public Procurement
Directive. Of course, many private sector clients are already
demanding BIM processes are used on their developments
and feedback from early adopters suggests that greater
collaboration is reaping the rewards.
So far, most talk of BIM focuses on the technical benefits
and the technological challenges. However, this obscures the
human side of the story specifically the behavioural
economics of working practices around BIM. Are there
factors here that are hindering widespread adoption further
down the supply chain? To address this, the RICS Research
Trust has funded a project on collaborative BIM by Professor
Michelle Baddeley and Dr Chen-Yu Chang at the UCL
Bartlett School of Construction and Project Management.
Baddeley and Chang have used insights from behavioural
economics and incentive theory, which concerns the role of
different motivations of individuals, to explore the potential
of BIM-enabled collaborative working practices. Their
research, which was published in February this year, focused

Technology

in particular on lower tiers of supply chains where small and

medium-sized enterprises (SMEs) are strongly represented.
The pair are finding out more about how the interface of
trust and collaboration could support BIM implementation
across the industry. Their work confirms the important roles
played by non-monetary motivations such as pride in doing
a job well and loyalty to a firm.
A key set of influences identified in the study were
information, risk and uncertainty. As part of the research,
the team carried out interviews among firms in Anglian
Waters @one Alliance supply chain.The interviews threw
up some really interesting economic insights, such as how
information can be concealed within supply chains and how
BIM can help develop collaboration beyond a mere exchange
of information, says Baddeley.
Behavioural economists suggest that collaboration can
reduce a suppliers incentives for concealing information by
building trust and cooperation, and by encouraging
contracting parties to take a longer-term view. If these
additional benefits can be embedded into BIM innovations,
then the potential for significant reductions in construction
transaction costs are reduced.
The @one Alliance brings together collaborative working
groups and while firms may find themselves participating
with their competitors, they are able to put these issues to
one side and learn from each other as part of the alliance,
says Baddeley. They can see the opportunities for learning
and exchange of information and our surveys show that
participants found the benefits of collaboration appealing.
Of course, there are other issues holding up wider
adoption. One is what economists call the status quo bias.
There is a lot of conservatism in construction, explains
Baddeley. This is how weve always done things, it works
fine and we dont need to change. But while conventions
might be slow to develop, they can be very strong once they
have developed. The other issue, unsurprisingly, is cost.
The big thing is the financial constraints. The technical
capability has to be picked up and, in a small business, how
are they going to have the resources to do that? Even if they
could be subsidised to attend a BIM course, they lose a person

for a day and these costs are prohibitive for small businesses.
If investing in staff is one cost hurdle, investing in the
technology when it is only being developed by a few suppliers
is another.When one company has a near monopoly on the
market it can do what it wants to a certain extent, says
Baddeley.A way to get more small businesses involved is to
make products cheaper, but when the market is controlled
by one big player, products are not going to get cheaper.
Neil Thompson, principal BIM integrator at Balfour Beatty
and co-founder of the Construction Industry Councils BIM
2050 group, took part in the UCL research. Thompson has
also explored the issues of education and skills, process and
technology and culture of integration as lead author of the
BIM 2050 groups Built Environment 2050: A Report on Our
Digital Future. Our behavioural biases in construction
inhibit collaboration, says Thompson. We need to change
the stereotypical relationships between disciplines. Future
generations will not accept these conventions and
construction will remain a second-choice career route for
talented people.
He is positive about the work of Baddeley and the team at
UCL. Its exciting to see influential economists move their
focus into construction, he says. Clearly, if you look at
software, the price setter can control how quickly innovation
can come into the marketplace. Cognicity, a project set up
by the developer Canary Wharf Group, has recognised that
there is a problem with construction innovation and is
looking to develop new businesses, including software,
which will lower barriers to entry for SME businesses. Opensource models are another solution (box, below).
Baddeley hopes to secure funding from the governments
Innovate programme to continue her research, with the
ultimate aim of increasing BIM take-up across the supply
chain. The government is getting interested in all of this,
she says. We are at the early stages but, as an example, the
government is looking at digitising the supply chain to help
small businesses to get into public sector procurement.
The barriers are coming down.n
DOWNLOAD a copy of the report at: rics.org/collaborativebim

TAKE THREE

Open source is closing the affordability gap

New innovation and open-source data
models are starting to come on stream
that tackle the issue of prohibitive costs
for small firms. Three to watch are:
3D REPO UCL and Arup have both
supported development of 3D Repo, opensource software that enables you to view,
share and annotate 3D BIM models stored
in the 3D Repo cloud anywhere on the go.
3D Repo is also available as an Android app.
3Drepo.org

BID4FREE With digitisation comes big

data. The result for the tenderer is a search
through vast amounts of oft-contradictory
data to find the necessary information. The
BIM4FitOut group aims to prevent a plethora
of processes being adopted using BIM and
launched the BID4Free project. It aims to
develop a free BIM viewer that allows
subcontractors and manufacturers to view
the model, complete a take-off and return
a tender at little or no additional cost.
bit.ly/bid4free

COGNICITY An initiative set up by

developer Canary Wharf Group, Cognicity
aims to identify and accelerate the
development of new technology products
and services. The Cognicity Challenge
programme is open to start-up companies
that have developed a technology
prototype, and mentoring from leading
technology experts and Canary Wharf
Group executives is available to
successful applicants.
cognicity.london/

M AY 2015_MODUS 29

Investment

30 RICS.ORG/MODUS

THE
REAL
DEAL

Tax efficient,
yielding high
returns and capable
of reviving ailing
economies in
global markets postrecession, have real
estate investment
trusts (REITs)
finally come of age?
Words David Hatcher

GAINS IN SPAIN
Axiare is one of
a new wave of
REITs that have
reinvigorated
Spains real
estate market,
buying assets
such as the
Madrid office
complexes
at Francisca
Delgado
(main picture)
and Fernando
el Santo (left)

aving an established REIT

regime is something that
RICS members in the US,
UK, France and Japan are at
risk of taking for granted.
Many of these countries largest real estate
entities have REIT status. They serve as
stable, income-generating companies that
are an attractive investment for the man on
the street and into which successful asset
managers and developers want to sell.
Despite their advantages, governments in
many immature markets have been slow to
wake up to the benefits of REITs. This can
lead to a lack of institutional investment in
real estate, the knock-on effects of which
include poor infrastructure, a lack of buyers
for mature assets, and generally subdued
property values.
The impact of their introduction has been
keenly felt in Ireland and Spain over the past
two years. They have helped increase the
flow of capital into these key European
markets, aiding their rejuvenation and
fuelling already rapid real estate recoveries.
The effect could be even more dramatic in
Asia, where both China and India are flirting
with introducing a fully fledged REIT
system. Boasting strong economic growth
and the worlds two largest populations, the
potential for both countries to revolutionise
their property industries through
institutional investment is enormous.
The legislative changes necessary to
establish a REIT regime are rarely enacted
quickly, however, and a lack of confidence in
a countrys economy, or a negative stance
from government could halt their adoption.

M AY 2015_MODUS 31

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32 RICS.ORG/MODUS

Investment

The REIT regimes introduction from

our perspective meant that we had the right
vehicle at the right time, at an opportunistic
point in the cycle. It allowed us to capture the
recovery, says Pat Gunne, chief executive of
Green REIT. The company was the first REIT
established in Ireland, listing with a 200m
(141.7m) float in July 2013.
Accessing equity through the public
market was fantastic, as if we had tried to
raise a closed-ended fund wed have missed
the timing, but this allowed us to start
deploying capital within a matter of months.
It was also symbolic, a local player coming
into the market and being able to raise
money like that.
Gunne is not sure whether it was the
particular advantages provided by REIT
status that allowed Green to raise capital, but
says it provided an extra boost and that the
legislation may allow for the evolution of a
more cohesive, listed real estate market in
the future. If a REIT hadnt been possible,
we would have looked for a different
structure. Really, the US private equity that
has been invested has been the biggest factor
of the recovery. I do think theres a place for
property within the public market long term,
though, and that the periods where
companies trade at a discount to net asset
value will be lessened by the REIT regime.
Because a REIT is focused on income, they
need to have a seed portfolio of assets on
their inception to generate this. After
investing 882.4m (646.2m) in property
since its float, Green REIT is now shifting
into a second phase that will see the
company become a developer as well.
In both Ireland and Spain, floods of private
equity investment have provided benchmark
pricing for the market over the past two
years. However, that capital has been
unwilling to invest in the highest quality real
estate or hold property for a long time, as it
does not fit with its return requirements.
This is where REITs have picked up the slack.
A steady REIT regime allows for investors to
trade assets more easily once they have
realised a successful asset management plan.
REITS are investing in a market that was
long gone in Spain, says Ismael Clemente,

The REIT regime meant

we had the right vehicle at
the right time. It allowed
us to capture the recovery

ll

ll

PAT GUNNE Green REIT

executive chairman and chief executive of

Merlin Properties, the countrys largest
SOCIMI its equivalent of a REIT which
raised 1.5bn (1.06bn) in June last year.
From 2007 to mid-2011 there was no capital
chasing deals and the market was completely
dry. Then, a wave of opportunistic capital
appeared in 2012 and everyone started to
turn to Spain and create associations with
local operators. That stabilised the market
but these funds are not good when it comes
to dealing with prime assets, as they tend to
be picky on price. Many who wanted to sell
but were not in major distress were missing
an exit and REITs like ours bridged that gap.
Last year the launch of several SOCIMIs
sparked a flurry of interest from investors
who, desperate to increase their exposure to
the countrys upswing, bought up shares. In
addition to Merlin, Grupo Lar launched the
first 400m (283m) vehicle in February,
Hispania followed in March with a 500m
(353.5m) offering and Axiare raised 360m
(254.5m) in July. As a result, says Clemente,
in 2014 REITs accounted for 40% of the
buyers in the countrys investment market.
The introduction of the REIT regime has
been a resounding success for the
government. It has achieved exactly its
objective by bringing some fresh air into the
market and little by little it has allowed the
banks to unload the problems on their
balance sheet in a more natural process, and
not necessarily at distressed prices,he adds.
These successes prompted the Italian
government to heavily amend generally
unsuccessful existing REIT legislation last
September as part of its economicUnblock
Italy reforms. The changes included
reducing the cap one shareholder can own
from 60% to 51% and reducing the required
dividend distribution from 85% to 70%.

GREEN SHOOTS
Nearly two years after its float,
Green REIT is moving from asset
purchases into development.
Work starts this year on Block H
at Central Park (above), 13-17
Dawson Street (below) and three
other sites in Dublin

M AY 2015_MODUS 33

Investment

The introduction of REITs

[in Spain] has achieved its
objective by bringing some
fresh air into the market
ll

ll

ISMAEL CLEMENTE Merlin Properties

Chinese investment bank Citic Securities

raised $835m (559m) for a vehicle called
Qihang Specific Asset Management and
seeded its portfolio with two offices in
Beijing and Shenzhen. However, the vehicle
is a world away from what European
investors would expect. It has been listed on
the Shenzhen Stock Exchange, which is for
large, institutional investors rather than
individuals, and the stock is highly illiquid.
It is neither obliged to distribute dividends,
nor does it gain tax advantages. Similarly,
Suning Yungchuang, a vehicle seeded with
11 electrical appliance stores, was listed on
the Shenzhen exchange in February, raising
RMB4.395bn (453m).
These vehicles are not available to buy on
the main screen stockmarket. If you want to
34 RICS.ORG/MODUS

BRIEFING

How do
REITs work?

buy them, you need to find a buyer yourself

and undertake a large transaction, says
Will Chen MRICS, managing director of
fund manager GoHigh Capital and former
co-head of real estate finance at Citic. The
regulator doesnt seem to be open to
allowing a big, mature market which will
allow everyone to buy.
In India the situation is somewhat more
progressed. The election of businessfriendly Narendra Modi last May was
followed in August by approval for REITs. It
is thought that the market could grow to
$12bn (8bn) in the first five years and $20bn
(13.4bn) by 2020. However, the REIT regime
will not be implemented until 2016, much to
the frustration of the countrys developers,
some of whom have built high-quality assets
only to find there is insufficient demand for
Indian real estate and are now looking to exit
through the capital markets.
The imposition of a 2% conversion charge
for those companies that want to become a
REIT has also become a sticking point. The
UK, by contrast, scrapped conversion
charges altogether in 2011. As the
regulations stand, the cost to transfer is very
high, says Gulzar Malhotra MRICS, chief
operating officer of fund manager Indian
Property Advisors. I still think some of the
larger companies will convert as they are in
a bad state. They have developed stable,
income-generating assets let on long leases
but there is not enough demand to buy them,
plus they have debt that is very expensive.
The introduction of REITs can have a clear,
positive impact on a countrys real estate
market, but getting to the point of having a
fully functioning system is a long and bumpy
road. If China and India can replicate the
successes of Ireland and Spain, then they
could very quickly become two of the worlds
largest REIT markets and have a significant
influence on global investors strategies. n

RISING
SUNING
Although not
a REIT in its
truest sense,
Sunings
seeding in
February of a
vehicle with 11
stores heralds
a new era
for Chinese
real estate

At their core, REITs are a

straightforward financial
vehicle they are listed
property companies with
a tax wrapper.
Although regulations
differ between countries,
most crucially, REITs are
not taxed on the income
that they distribute. Instead,
the income is only taxed
as part of shareholders
overall income, therefore
avoiding any double
taxation. This puts REITs
on a level playing field with
owning property directly,
as well as making real
estate exposure possible
for someone that only has
a small amount to invest.
In exchange for these
allowances, REITs must
distribute a high proportion
of their income to
shareholders, sometimes
as much as 90%.
They must also have
a fragmented ownership
structure. This can mean
having a minimum number
of shareholders often
around 100; that a certain
percentage of the stock
must be owned by investors
that own less than 1% or
2%; or that an individual
investor cannot own more
than a certain amount of
stock often around 50%.
In order to become a REIT,
many governments impose
a conversion charge, usually
calculated as a percentage
of the companys assets.
Some companies regard
this cost as prohibitive.
Because the vehicle has
to be focused on income,
companies need a seed
portfolio that will generate
this, which either has to be
lined up to buy before a float,
or is already owned by the
company and is effectively
being sold to the market.

IMAGE CORBIS

Despite these changes, the country is still

waiting for a new REIT to emerge. Italy is
further behind in its recovery than Spain or
Ireland and the market is considered to be
more opaque for international investors.
Fund manager Sorgente had to pull an
intended float of its Sorgente Res vehicle in
November because of volatility in the
financial markets. It had planned to sell into
the vehicle a seed portfolio from its existing
funds. The company intends to attempt
another listing in the coming months.
There needs to be a window of tranquillity
for at least a couple of months to finalise the
process of an IPO, says Alexandre Allison
Astier, head of CBRE Capital Advisors in
Italy and the former head of business
development at Beni Stabili, one of only two
existing REITs established before the recent
legislative changes. There is also a bit of a
shortage of product at the moment that can
be used to raise capital against and a lot of
what is coming out of the banks to buy is of
poor quality and not suitable for a REIT.
In Asia, two of the continents most
important economies are attempting to
establish a REIT regime.
It is estimated by the European Public Real
Estate Association that a properly developed
REIT market in China could see its listed
property sector grow by a factor of 10 within
a decade from around 325bn.

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M AY 2015_MODUS 35

Ethics

STEP INTO THE

LIGHT
Real estate is a global industry, but how certain
can we be that the ethical behaviours of
professionals are consistent around the world?
Modus spoke to members of an international
coalition that hopes to provide the answer
Interviews Brendon Hooper Illustrations Adam Simpson

Whos in the
discussion?
KARIN BARTHELMES-WEHR,
corporate secretary,
Initiative Corporate
Governance of the German
Real Estate Industry, Berlin
PETER BOLTON KING FRICS,
Global Property Standards
Director at RICS, London and
chair, IESC board of trustees
TONY GRANT FRICS, honorary
president, International Real
Estate Federation (FIABCI), US
GEORGES PAHUD, vice-chair,
International Consortium of
Real Estate Associations
(ICREA), Vancouver
ALEXEY SHASKOLSKY MRICS,
chairman, Russian Society
of Appraisers, St Petersburg
branch
KATHY TSAO, 2014 executive
board, Asian Real Estate
Association of America
(AREAA)

36 RICS.ORG/MODUS

lthough the key concepts of

right and wrong in business
are agreed across most
markets, the space given
over to the shades of grey in
between especially over the specifics of
business and property transactions are
far from unified. To help re-define the
role of ethics in real estate, organisations
representing property and related
professional bodies from Asia, Europe,
Oceania, and North and South America met
at the United Nations in New York last
October to establish an International Ethics
Standards Coalition (IESC).
The coalition aims to develop and
implement the first industry-wide ethics
standards for property and related
professional services. Focusing on qualities
such as trustworthiness, integrity and
respect, they will seek to align fundamental
ethics principles through a new international
ethics standard (IES).
The goal for professionals is to undertake
work in an ethically consistent way,
regardless of where they are located and the
nature of their work. Ultimately, it could
help raise the standard of professional
services and promote stable property
markets around the world.

Modus asked six IES coalition trustees

to discuss the international ethics challenge,
the ongoing collaboration over the IES,
what is to be gained and what challenges
lie ahead.

WHY IS IT A PROBLEM HAVING

VARYING ETHICS STANDARDS
AROUND THE WORLD?
ALEXEY SHASKOLSKY Theres no doubt that
the world is drifting towards being a more
unified economic community. This means
that diverse ethical norms in real estate
activities will have to be respectively unified.
Just as measurements, like distance or time,
were once universally agreed upon,
internationally adopted professional
behaviour in real estate has to be developed,
declared and followed.
GEORGES PAHUD It is not a problem, as such,
to have varying standards of ethics from
country to country, but what we are doing is
recognising that there is a problem of
inconsistency that needs to be resolved. I
think its mainly a problem for consumers,
because their expectations are so varied.
They might find business is done quite
differently when in another country.

Ethics

M AY 2015_MODUS 37

Ethics

KARIN BARTHELMES-WEHR The real estate

market today is more international than it
has ever been. Investors conduct business
all around the world and, while doing so,
they face totally different business
environments and cultural behaviours.
What may be a no go in one country
could almost be standard in another for
instance, in using a facilitation payment to
secure a deal, or in having to adhere to
certain social standards, such as a national
minimum wage.
KATHY TSAO Purchasing overseas property
can be a daunting task when you are not
familiar with how a system works in the
particular country. Prospective buyers may
not really know what levels of service will be
delivered and what type of information they
should expect. There needs to be a common
ground for people to know they are getting
what they paid for.
PETER BOLTON KING When you think that
the real estate sector advises on assets worth
between 50% and 70% of the worlds wealth,
then finance and real estate are intrinsically
linked together like never before. So it
matters that people can trust who they are
operating with from overseas markets.
TONY GRANT We have a global market, but
we dont have a single point of reference to
understand what ethics apply to
38 RICS.ORG/MODUS

practitioners in a certain region, and how

to find those standards. Its about making
the market aware of the industrys one voice
on the matter of ethics.
Unlike varying property measurement
standards, the problem is not so much the
variation between standards of ethics.
Almost every organisations code of conduct
contains the fundamental principles of
transparency and honesty, but different
professional disciplines have different
applications of those principles. With ethics,
its a matter of how these fundamental
principles of honesty and decency are
applied to the profession as a whole and its
individual parts.

WHAT KINDS OF ISSUES DOES A

LACK OF CONSISTENCY RAISE?
KT As we all know, there are countries where
agents can work without a licence or any
training. I have worked with buyers from
such countries and you can see the trust
levels are not there. For instance, after a
showing, buyers will demand to see the
seller or developer directly because they
believe they can get more direct information
and negotiate a better price directly from the
sellers. They may also engage two or three

agents to show them the same property and

see who can get them the best price. So a
commonly recognised standard of ethics will
help people understand how we should
practise and where the boundaries are.
GP Problems can arise when you work in a
country that has higher standards of ethics,
and you have a consumer who comes from a
place that has lower standards. If you cant
give them consistent advice, it may lead to
them having little or no respect for the
professional that you claim to be.
PBK Look at the question from the other
way round: what are the dilemmas for the
users of those professional services?
Conflicts of interest are a prime example.
RICS makes sure its members are absolutely
transparent and that people are always aware
of a conflict of interest. But this is not
something that happens on a simple level
everywhere around the world. For example,
investors can have an impression that the
Indian market can be fairly cloudy and not
transparent. But confidence and trust will be
boosted if they know that the same ethics
standards are being applied there.
TG And if a member of the public wishes to
buy a second home in a different part of
the world, knowing that an international
ethics standard exists, they can seek out
practitioners who adhere to those standards.

Ethics

The standard has got to work in developed,

as well as developing, markets. That will be
quite a challenge, but it will help clarify the
definition of ethical behaviour

ll

ll

TONY GRANT FRICS International Real Estate Federation

AS However, I dont think the quest for a

common standard of ethics is a compromise
between pioneering and obsolete national
ethics regulations. Its more a chance to
move towards the leading positions of ethics
norms of the worlds most respected unions
and organisations.

ARE COMMON PRACTICES

ACROSS GLOBAL MARKETS TOO
DIVERSE TO BE BOUND BY AN
INTERNATIONAL ETHICS CODE?
KBW It will definitely be a challenge, but it
can work. The standard will have to be, to an
extent, generic and part of a framework. Each
coalition organisation will be responsible for
making specifications regarding country,

culture, professions and market segment.

The organisations are the guarantors for the
success of the standard so there is an
incentive to make it work. As more countries
and organisations get involved, it will raise
the chances of the standard finding
acceptance and being implemented.
KT Finding a common ground and setting up
the framework can be done and the standards
can also serve to complement other
organisations existing codes or to help
others broaden theirs. If it is a win-win
situation for our industry, why not do it?
PBK I dont think there is a problem with
gluing the real estate market together, but
it should initially be at a high level. We now
have around 40 organisations involved in the
coalition, from the Electrical Suppliers
Association of China, to the Bogot Real

Estate Association. I think that indicates a

genuine desire for an international standard
to work, but this is also why we have agreed
that it should be at a high level, so we have a
framework we can start working with.
TG We dont see the diversity of the market
as being an issue on the contrary, the
diversity gives a legitimate function for the
codes of conduct of the individual
organisation. We already share a lot in
common, for example, putting clients and
the publics interests before your own could
apply to any organisation. The IES is
certainly doable because when it is launched,
it will be a set of fundamental principles that
many organisations already have, but better
expressed and more widely recognised, and
available in many languages.
Furthermore, theres no suggestion that
member organisations will be expected
to scrap their own established codes of
ethics. There is plenty of opportunity for
them to apply the general IES principles to
their own specialist locations and
professional disciplines.
AS The good thing is we are not starting
from scratch professionals everywhere
already share most of the ethics norms we
are aiming for. The issue is how we finalise
the international ethics standard, display
its support from dedicated organisations,

M AY 2015_MODUS 39

Ethics

There have been cases of important

stakeholders losing trust in the real estate
industry and its players, and we need to
do all we can to regain this trust

ll

ll

KARIN BARTHELMES-WEHR German Property Federation

and make it an indispensable tool for

real estate professionals for doing their
jobs worldwide.
GP The key to the success of the IES will be
in its enforcement and implementation.
Because setting up a universal ethics
standard and then not enforcing it, could
well be a breach of those very same ethics
standards. Further down the line, I would
very much like to see enforcement happen.

WHAT ARE THE CHALLENGES

IN IMPLEMENTING A GLOBAL
ETHICS STANDARD?
KBW The countries that are taking part in
this project are very different from Brazil
to China and from the US to the UK, and they
will have varying approaches to guidelines.
The challenge will be in gaining a worldwide
acceptance of the standard, without diluting
the standard itself.
PBK It is going to be up to individual parties
that have signed up to the coalition to decide
what advice and guidance they are going to
give out to their members. While accepting
that there will be some element of flexibility
in meeting the standards, I do believe that
they can be applied right around the world.
TG The IES has got to work in developed, as
well as developing, markets. Thats going to
be quite a challenge, but it will help clarify
the definition of ethical behaviour. The
coalition needs to maintain the collegiate
style of working that was successfully
established in New York in October.
AS Of course, some national habits of the
heart may not be compatible with the most
advanced ethics norms we are trying to
implement. But more than anything, public
sentiment is essential if ethical behaviour
in general is only seen as being of peripheral
value, our efforts to introduce high ethics
could encounter difficulty.
GP This is why I hope the coalition will, in
time, create some form of enforcement and
auditing protocol, otherwise I dont think we
will be doing as much good as we can.
40 RICS.ORG/MODUS

WHAT DO PEOPLE STAND

TO LOSE AND GAIN FROM AN
INTERNATIONAL STANDARD?
KT Although its going to take time, I dont
see much downside to creating an
international ethics standard. It will give
investors more confidence, which means
they will travel more, interact more and
invest more when they deal with
practitioners who can apply this standard.
AS The property profession in general,
business, and society are all interested in
having common professional ethics.
GP I think if the IES is implemented and
followed, theres no doubt that consumers
will be better served. They will be getting a
far more rewarding experience for whatever
real estate service they use. But if it turns out
that the standards are just for show, and not
actually delivered, then I think consumer
confidence will be shattered.
KBW There have been cases of important
stakeholders losing trust in the real estate
industry and its players, and we need to do
all we can to regain this trust. Times are
changing ethical behaviour used to be seen
as a nice to have, but in the future its going
to be the only way to conduct business.
PBK If people lose out, it may be because
they are not doing what they should be doing
in the first place. The general feeling is that
if we can crack this, the industry and its
members will have an awful lot to gain.
Thats why although government bodies
are not allowed to be part of the coalition,
were encouraging them to become
supporting partners for example, we have
the UK Land Registry and the Dubai
government on board. Itll be interesting to
see how this goes.
TG Once people understand that the IES is
not intended to replace individual
organisations codes of conduct, then there
is nothing to lose. The effect on the property
market and on property values will be
enormous. The standard will generate more
confidence and bring stability to the market,
because good ethics is good business.

HOW WILL YOUR ORGANISATION

BE INVOLVED?
AS Im glad to say weve helped initiate the
IES project. Our present involvement will be
a logical step in the direction that was chosen
20 years ago to bring world-class valuation
professionalism and respective ethical
behaviour to the Russian market.
GP Hopefully we will try to get our member
associations to commit to not just adopt the
standards, but also to implement and
enforce them. Whether they will be able to
or not will be the challenge. Dont forget,
some real estate associations will have
trouble getting their associated members on
board, as they may not want others speaking
for them. All we can do is sell the concept
and negotiate.
KBW For 13 years, the Initiative Corporate
Governance has developed guidelines for
the German real estate market, and
developing an IES will be an extension of
this. Were proud to be part of this
important project and will put all our efforts
towards implementing it.
KT This will be an educational process for
members of the Asian Real Estate
Association of America, and we can support
this endeavour by raising members and
partners awareness through newsletters,
conferences and educational seminars
both domestic and abroad.
TG Im very involved with the International
Real Estate Federation, of which RICS is a
principal member, and weve been able to use
our global reach to encourage our principal
members around the world to join the IESC,
from SEGOVI in Brazil, to the Malaysian
Institution of Surveyors. Even architectural
organisations such as RIBA [Royal Institute
of British Architects] are also joining the
coalition. Every member of the IESC is
equal, but I do see RICS taking a leading
administrative role, because of its worldwide
reach and impetus.
PBK Im honoured to have been recently
made chair of the IESC Trustees, and RICS
has been asked to take a leading role in
providing background services and
maintaining the IESC website. I believe
with RICS global reach, we can get the
message out to all corners of the world. In
time, RICS expects it will completely replace
its ethics standards with the new
international ethics standards, and we will
be providing guidance to help members
meet them. n
FOR MORE INFORMATION on the role and
work of the coalition, go to ies-coalition.com

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M AY 2015_MODUS 41

OFF THEIR
TROLLEY

Britains big four supermarkets are

in a slump. Is it a blip, Stuart Watson
asks, or have the wheels come off?

Checking out
In January Tesco announced
it was closing 43 branches
and abandoning 49 planned
stores, including Chatteris
in Cambridgeshire, which
has now been mothballed (1)
Price war
All big four supermarkets
are cutting prices to head off
the challenge of discounters
and restore growth to levels
that will enable them to adapt
their stores for the future (2)

42 RICS.ORG/MODUS

For much of the past decade, Britains supermarkets have been engaged in a
frantic space race as they sought to grab market share by building more and bigger stores.
Two years ago the leader of the pack, Tesco, issued its first profits warning and declared
that the race was over. Since then the severity of the crisis in the food retailing sector
has become apparent. Tescos fall from grace has been the most spectacular, but the
other members of the big four Sainsburys, Asda and Morrisons have also scaled
back their growth in the face of weak sales.
Last winter, the investment bank Goldman Sachs published a report in which it
suggested UK supermarkets needed to shed 20% of their existing space to return to
health. In January, Tesco revealed that it was to close 43 branches and abandon 49 planned
new stores. Morrisons followed that in March by reporting a 792m loss after taking a
1.27bn property writedown, caused by the declining value of its supermarket assets.
How far will the trend go? CBREs December UK grocery pipeline report shows a 20%
reduction in the amount of grocery space under construction since the end of 2013
hardly a precipitous decline. There is always a time lag because supermarkets are
long-term projects, explains Chris Keen MRICS, a director in CBREs supermarkets
team. In 2013-14, 3.2m ft2 [297,300 m2] of supermarkets opened. We estimate by the
end of this financial year it will be 2.9m ft2 [269,400 m2], then next year it will fall
to 1.5m ft2 [139,350 m2].
While the supermarkets continue to open smaller convenience stores in town centres,
big, out-of-town stores have fallen out of favour. Independent retail consultant Richard
Hyman says the recession has led to consumers shopping more often and buying less
each time. That prompted the big four to expand their online and convenience operations,

79%

Italy

28
49

Poland

Spain

79 46
%

79%

64%

Greece

%
France
64

CHINA
41%

US

8282

UK

82%

% %

CANADA

49

JAPAN

40%

RUSSIA

54%

GERMANY

50%
Government

82%

FRANCE

42%
26%

SPAIN

Government

Government

46

46%

Spain

Greece

84%
70%

Greece

64%
INDIA

France

49

UK

46

Government

TOTAL

Germany

26%

23%

be to adapt their stores

to a greater range of uses. So while
84
%

following
month the45retailer announced that it would build
GERMANY
4,000 new homes on some of its undeveloped sites.
FRANCE
45
42
Business
Keen and Edson agree that the
supermarkets are likely to
SPAIN
43
26
sell many sites for residential-led development or build
them out in joint ventures with developers. The potential
stumbling block is that the value of the land is likely to be
lower than it would be for food store use. We know the
supermarkets have written off a lot of the land value already
%

4m ft2

28%

GOING TO TOWN
After a post-recession expansion
boom between 2010 and 2012,
supermarkets have cut back on
out-of-town development and
are now growing in town centres
Source: Kantar Worldpanel

Briefing

Germany

STOCK
they may
haveGreece
20%
too much
spaceUKon an older
model, we
% %
Italy
Poland
Spain
France
Germany
CHINA
7084
INDIA
60%
CHANGE
have seen Sainsburys put Argos concessions into their
%
US
60%70%
of CHINA
41rise
52% The
stores while Tesco
has bought [restaurant chain] Giraffe.
discounters
% %
%%
%
UK
52
43
US
60
41
47
However, he too believes that development will slow
such
as Aldi
% % Lidl, and CANADAmarkedly:%
stores of 100,000 ft2
and
47
UK
52%They will still do large
48% 4943
82%
INDIA
84%
2
changing
[9,300
m
]
but
in
very
particular
locations
that are under% %
JAPAN
48
40%% to CANADA
47CHINA
45% 49% trends
70%
82
served in
terms of food stores.
There will be large stores
shopping JAPAN
RUSSIA
45%%
48
%
45%54% 40%
US at nowhere near
60% the level we have seen.
41opening
but
online and in
%
%
% 50%
%
GERMANY
RUSSIA
4545UKwill be the fate
4554
convenience
52% of the supermarkets land banks?
43% So what
Business
stores, have
The big
are all believed
to have acquired substantial
%
% four
FRANCE
45
GERMANY
45
%
43% 50% 42%
CANADA
47%
Business
contributed 49 tracts for
future
development,
although only they know for
%%
SPAIN40%
43
45
to%a drop26
in%FRANCE
42
JAPAN
48%
Business
certain
how
much.
In
June
2014,
the Guardian newspaper
out-of-town
SPAIN
43%RUSSIA
26% 54
%
45%
accused
Tesco of hoarding
4.6m m2 (50m ft2) of land. The
developments
50%

BY NUMBERS

23%
23%

UK

France
%

26%

26%

Germany

49%

Spain

Poland

28%

UK

79%

82%

43%

49

Poland

Italy
INDIA

23%2004-2014 %
28

Italy

82%

254%

26%

1994-2004 38%

64%

OUT OF TOWN

TOWN CENTRE

3
2
1
0

IMAGES AP IMAGES; ALAMY INFOGRAPHIC IAN DUTNALL

2004

2005

2006

but at the expense of further fragmenting shopping patterns

and reducing the volume of goods sold through their
traditional superstores, he argues. Meanwhile, they are
fighting off increased price competition from discounters
such as Aldi and Lidl.
The store closure programmes we have seen so far are
just the beginning. There will be many more, Hyman
predicts. I dont think a reduction of 20% is ridiculous.
The productivity level on which the investment case for
those stores was based is not being realised.
Keen believes the drop in out-of-town superstore
development has less to do with structural decline than the
supermarkets investment choices. He suggests that because
retailers have only a limited sum for capital expenditure, they
are prioritising convenience and online expansion and only
developing the very best superstore opportunities.
It is not the death of the superstore, he argues.They are
core to these retailers businesses. They account for
90%-95% of turnover. Online is one of the reasons why
superstores are here to stay and will get developed again once
convenience stores reach saturation. Superstores are key to
online distribution because the retailers pick and deliver
from them.
Tom Edson MRICS, a director in JLLs out-of-town retail
team, agrees that widespread closures are unlikely: The food
operators are very good at changing their business model
quickly to maintain profitability, he says. Part of that will

2007

2008

2009

2010

2011

2012

2013

2014

so they have some freedom, says Keen. These are often

brilliant sites near roads in existing conurbations and they
could go a long way towards solving the housing problem.
More acute pain will be felt at sites in the Midlands and
northern Britain, where house prices are lower and the
high values associated with food store use are necessary to
unlock development. Mixed-use schemes in places such as
Wolverhampton and Kirkby near Liverpool face an uncertain
future following Tescos decision to reduce its development
pipeline. Over the last couple of years schemes have been
falling out of bed. The supermarket is essential to the
viability of some and those have just stopped, says Edson.
The seismic shifts in retailing will affect the estates of the
big supermarkets, but the situation is changing so fast that
it is impossible to predict how much. However, for property
professionals, the slowdown in supermarket building is
certain to open up other development opportunities. n

REFERENCE POINT REPORTS AND RESOURCES

UK Grocery Outlets in the Pipeline
CBREs MarketView report
bit.ly/CBREfoodstore_pipeline
Richard Hyman publishes retail
intelligence and analysis at
richardtalksretail.co.uk/
The Institute of Grocery Distribution
provides analysis on the UK grocery
market igd.com

BBC News feature on the impact of

Tescos abandoned developments
bit.ly/Tesco_closures
Guardian report on Tescos land bank
bit.ly/Guardian_tesco_landbank
CBRE In Grocery publication Autumn
2014 The changing face of food retail
and its property implications
cbre.co.uk/uk_retail/in_grocery

M AY 2015_MODUS 43

BARANGAROO
BOUNCES BACK
The redevelopment of Sydneys old
container port into 22 hectares of prime
waterfront is one of the worlds most
ambitious urban renewal projects.
Stuart Watson reports

Client New South Wales Government

Developer Lend Lease
Architect Rogers Stirk Harbour + Partners
Cost consultancy and advisory Rider Levett Bucknall

44 RICS.ORG/MODUS

FLAT OUT
Two low-rise buildings make up the retail and
residential element of the scheme. The first
159 of 1,000 planned flats sold out in less
than four hours after going on sale in 2013

If you dont get excited about working

on a scheme like this, then its probably time
to consider another career, suggests Kevin
Lemaire MRICS, commercial and contracts
manager at Lend Lease. The scheme in
question is Barangaroo, a new waterfront
district of Sydney within sight of the
Harbour Bridge and Opera House.
Barangaroos name reflects its early
history as an aboriginal settlement. By the
late 20th century the district was in use as a
container port and in 2003 the New South
Wales government designated the 22 hectare
(54 acre) site for mixed-use development.
It is divided into three zones: Barangaroo
South, an extension of the citys central
business district comprising three office
towers plus residential and retail space;
Barangaroo Point, a public park and cultural
facility on the headland; and Barangaroo
Central, which will consist of low-rise
housing and civic buildings.
Barangaroo South, where Australian
construction giant Lend Lease is acting as

Case file

MONEY WALKS
PwC, KPMG and HSBC have already signed
up for sizeable prelets at Barangaroo South,
and the A$6bn scheme is expected to shift
the centre of Sydneys financial district

PRIME MOVER
Rogers Stirk Harbour + Partners has
designed the office element of the scheme
which, when fully completed in 2016, will
add 11% to Sydneys prime office stock

BUSINESS WITH LEISURE

International Towers Sydney, Barangaroo
Souths first phase, is under construction
(centre, right). The six-star Crown Sydney
Hotel Resort (left) will open in 2019

developer and contractor for the whole first

phase, is already well under way. The first
tenants will move into the 43-storey office
Tower 2 in July this year, while the other two
Rogers Stirk Harbour + Partners-designed
towers will be completed in 2016. In all there
will be around 320,000 m2 (3.4m ft2) of new
commercial space, adding 11% to the citys
prime office stock. PwC, KPMG and HSBC
have signed up for big prelets.
Two low-rise residential buildings are
also under construction. The first 159 of the
1,000 planned apartments at Barangaroo
South sold out within three and a half hours
of going on the market in August 2013. There
will also be around 25,000 m2 (270,000 ft2)
of shops and restaurants.
When complete, the A$6bn (3.08bn)
Barangaroo South will shift the focus of
Sydneys financial district to the south,
creating a new carbon-neutral waterfront
community to boot. Lemaire provides
contracts administration assistance to 20
development managers.Even though I have

worked on extremely large projects in the

UAE, I find the scale of the Barangaroo
scheme truly impressive, he comments.
There are more than 2,200 construction
workers on site and the number of
professionals involved is correspondingly
large. David Woodcock FRICS, executive
director for operations and commercial,
says: There are currently over 400 of us on
the project team alone, covering a range of
disciplines including construction,
engineers, environment, health and safety,
p ro je c t m a n a ge m e n t , m a rke t i n g ,
development, leasing, design and finance.
Wayne Elsom MRICS is commercial
contract manager on Tower 1. With 49
floors, it is the tallest of the office buildings.
He says:Together its a massive project, but
each building is run as a project in its own
right, so it is manageable. Communication
and coordination across the team and
between individual project teams is key.
Quantity surveying firm Rider Levett
Bucknall helped Lend Lease to cost plan the

scheme and is now employed in project

certification, signing off on the completed
work of the subcontractors so they can be
paid. Managing director Bob Richardson
FRICS says his team cover huge distances on
site as they certify the individual jobs. As
superintendent, signing off on the largest
variation in my 50-year career gave pause for
consideration,says Richardson.The extent
of contamination on the site was
significantly greater than anticipated.
The involvement of much of the Lend
Lease team will come to an end in late 2016
with the completion of the main commercial
buildings, but it is estimated that the later
phases of Barangaroo will take until 2020-22
to finish. Elsom is looking forward to seeing
the end product: It will be a permanent
reminder of a period in my life instant
nostalgia, he says. In years to come when I
visit with family and friends and we have
lunch at one of the cafes or stroll along the
foreshore, I will be able to share all of my
Barangaroo stories with them. n

M AY 2015_MODUS 45

Careers / Business / Legal / Training

Foundations
CAREERS Scouring adverts, updating CVs, coping with rejection
looking for a new job can be a real grind. Heres how to stay motivated

POSITIVE STEPS

Staying motivated while

looking for a new job can be
tough, and not just for those
who are unemployed. Lack
of candidate motivation is
a common issue in times
of high unemployment, but
it can still be a problem
even now, when chartered
surveyors are in demand.
Jobseeking can be
demotivating in itself. It is
easy to see researching
employers, tailoring CVs
for each application and
practising interview
questions as too much
hassle, particularly for
candidates who already have jobs that are at least tolerable.
Despite knowing that better jobs are out there, once
you factor in the time and effort required to search for
them, it is easy for candidates to become demotivated.
It is a problem Kevin Rose, senior recruitment consultant
at Conrad Consulting, often encounters: We send our
candidates lists of opportunities, but these days it is harder
to get answers from them because some are working so
hard that they dont have time to look through the list.
Whether employed or unemployed, seeing applications
rejected or simply getting no reply is perhaps the most
demotivating experience of all. It is hard not to take this
personally, but career coach John Lees, author of jobseeking
guide Just the Job!, advises: You must get used to the idea
that statistically in the job hunt game you are going to hear
no many times. Most of the time it isnt about you.
Candidates might tackle demotivation by talking to a
recruitment consultant or trusted friend. As Isaak Badru,
senior consultant at Eden Brown, says: Remember, you

01 Remember there
are many reasons
why you did not get
the job - its not
always your fault.
02 Do something
positive to boost
your prospects each
day, such as emailing
a new contact or
meeting someone
who can help
you find work.
03 Dont just focus
on one vacancy
always have an
alternative to fall back on.
04 Boost your confidence
by doing something you
are good at every day.
05 Dont suffer in silence help
from a recruitment consultant
or supportive friend can
reduce demotivation.
46 RICS.ORG/MODUS

are only human. Despite high demand,

some excellent chartered surveyors get
nervous and may not deliver a good
interview. Good recruitment consultants
will help you tackle problems like this.
Chris Mackenzie, UK managing director
at Cobalt Recruitment, adds: The admin
associated with a job search can be
demotivating, so consider asking
recruitment consultants to do some of
the legwork, such as finding suitable
vacancies and helping you construct
CVs. They can also give you the impetus
to maintain your job search.
Even with plenty of opportunities out
there, finding the right job for you can
sometimes be a long, hard slog, and
acknowledging feelings of demotivation
can be the first step to overcoming them.
One RICS member Modus spoke to, who
declined to be named, has just got a new
job after being made redundant earlier this
year. As they explain: I was in demand
the phone was ringing off the hook but
the redundancy was demotivating in itself.
I applied for lots of jobs, and was only
offered two. Its particularly demotivating
not to get jobs when demand is so great,
and though I asked for feedback from
employers it was too vague to be any use.
I tackled demotivation by taking the
odd duvet day, but also acknowledging
the negative or unhelpful feelings, picking
myself up and continuing the job search.
I found the RICS Lionheart helpline useful
for counselling and job search advice.
It helps to counter demotivation if you
can enjoy the little things, like time with
your family. Id also think of favourite
quotations, such as: Success is how high
you bounce when you hit the bottom.

NEXT MONTH: FIRST DAY ETIQUETTE

For further careers advice, go to
rics.org/careers, and for the latest jobs,
see ricsrecruit.com

ILLUSTRATION MAGOZ WORDS LINDA WHITNEY

JOBSEEKERS ASSURANCE

Foundations

HOW TO

PORTRAIT CHRISTOPHER IRELAND

PREPARE
A FARM
FOR SALE
Who owns what? Are all
the clients details correct?
If the farm is owned by a
company, is the company
or only the property assets
for sale? Secure vacant
possession where possible
on any let property.
Prepare the documentation
Choose a solicitor who has
experience with farm
conveyances and provide
them with copies of all the
relevant documents before
the marketing commences.
Draw up a list of fixtures
and fittings included in the
sale. Make sure records of
past years farming
activities are available.
Private or public
marketing? Private keeps a
sale out of the public realm,
but may leave the seller
wondering whether the best
possible price was achieved.
Public marketing is the most
effective way of reaching
prospective buyers.
Stand out from the
competition Advise your
client to continue farming
as if they were staying.
A sale can be won or lost
by first impressions.
Be upfront Do not surprise
a buyer once negotiations
are underway with issues
such as rights of way let
them know from the outset.
Charles Dudgeon FRICS is
director of Savills estate
and farm agency team in
Edinburgh. savills.com

MY WAY

Chris Carr MRICS

SENIOR COST MANAGER,
TURNER & TOWNSEND, SYDNEY

It was my dad who first got me interested

in construction. Driving to football games
when I was a boy in Yorkshire, hed point to
buildings and say, I worked on that. Hes a
surveyor, and Im proud to be continuing in
his line of work. You cant beat the variety
of work surveying brings every year brings
different people, projects and technologies.
In 2006 I received a sponsorship from
Taylor Woodrow, which became Vinci
Construction, to take an RICS-accredited
degree in quantity surveying at Sheffield
Hallam University. I then continued on to
take my APC at Vinci. Being sponsored
helped with this, as I gained a tremendous
amount of experience during term holidays.
A big turning point came when I moved to
London from Yorkshire in 2008. It was right
at the start of the recession, and a difficult
time for many graduates, but my experience

with Vinci was a good grounding. Some of

my best memories include working on the
incredible concourse of the Kings Cross
station redevelopment. I loved the sense of
legacy from restoring and regenerating 150
years of history for the next 150 years.
After becoming chartered, I joined Turner
& Townsend (T&T) and worked for two years
in the project controls team on Crossrail.
We created a new proposition around
commercial assurance, reviewing and
improving the performance of contractors,
and sharing innovation between projects.
I now work in Australia for T&T, in the
commercial delivery team of North West
Rail Link the largest public transport
infrastructure project under construction
in the country. There is a lot of activity going
on and in the pipeline, especially around
the proposed Sydney Rapid Transit, which
will extend the link under the harbour and
the city. Its a similar project to Crossrail.
Construction is the bedrock of a countrys
economic growth, and its exciting, as a
chartered surveyor, to have a role to play.
rics.org/chriscarr

Some of my best memories

include working on the incredible
concourse of Kings Cross station. I loved the
sense of legacy from restoring and regenerating
150 years of history for the next 150 years

M AY 2015_MODUS 47

ROCK AROUND
THE CLOCK

For employees and work-life-balance campaigners alike,

June 2014 was a date to celebrate. After years of lobbying,
UK government legislation finally granted all staff not
just those with children or caring responsibilities the
right to request flexible working.
Although not universally supported step forward
employers lobby group the Confederation of British
Industry the extension in the ability to ask for flexible
working instantly gave an extra 20 million employees the
opportunity to meet rising childcare costs, or juggle other
responsibilities. Among the options available to
employees are: being able to work from home, do reduced
hours, work compressed weeks, and even job shares. The
aim is that work should be more responsive to the needs
of modern-day staff, while creating a useful by-product
in the development of a more progressive culture one
that looks at outputs (things done), rather than crudely
counting inputs (hours in). And the reward for still
sceptical bosses would be plain to see: greater engagement,
productivity and reduced staff attrition (box, opposite).
While great in theory, how businesses handle requests
for flexible working will still need careful thought and new
policy writing to get it right. Although the legislation
sounds simple enough to respond to, there are
considerations most important of which is that bosses
must ensure they consider them fairly and consistently.
The first thing managers should
remember is that the right to request
flexibility is only that a right to ask,
NEXT MONTH: CONFLICTS OF INTEREST
not the absolute right for it to be granted,
says Michael Briggs, associate at legal firm
HOW TO BEST represent clients without
Shoosmiths. There are eight reasons
falling foul of conflicts of interest.
employers can refer to for refusing this
To take part in future business advice
including that to do so would burden
columns, email editor@ricsmodus.com
48 RICS.ORG/MODUS

TRIAL PERIOD
To repeat a cliche, this inevitably means,
says Briggs, that each case does have to be
taken on its own merit.Staff have recourse
to challenge a refusal to tribunal level if
they wish so having a fair process could
mean employers agreeing to a trial period
first. This will give the employee a chance
to prove that this change doesnt have any
impact on customer service, productivity
or any other important measure.
For the employer, if there are clear
differences in outputs, its much easier
to refuse a request, and to be seen to have
done so with evidence, rather than
dismissing it out of hand.

ILLUSTRATION MAGOZ WORDS PETER CRUSH

BUSINESS Get a grip on how to manage

employees requests for flexible working

them with extra costs, that it would have

detrimental impact on their firms ability
to meet customer demands, or that it
would be impossible to reorganise work
or recruit others to compensate. He adds:
If they cant handle it for these or any of
the other reasons, then they have the right
to turn it down.
It is vital, Briggs argues, that employers
amend their staff documents to explain
this. But it is also crucial, he suggests, to
be seen as being open to a request rather
than closed to it: The start-point should
always be to strike a positive mindset, that
the request can be accommodated unless
any of the rules apply.
Despite there being no specific legal
definition of consistency in this instance,
appearing to be inconsistent in dealing
with requests could be bad news. For
example, Sarah Jackson, CEO of work-life-
balance organisation Working Families,
suggests: Every time managers accept a
request for flexible working, they need to
realise it will change the nature of the
business, and how everyone else will have
to work. Managers will need to know how
to deal with the fact that saying yes to one
persons needs may mean that when the
next person in the same situation asks
for the same time off, it wont be possible
for them, because they need to cover the
first person whose request was accepted.
To deal with this, an employer might
draw up a list of accepted reasons for why a
request to work flexibly can be taken in the
first place. It wont seem fair if someone
simply wants flexibility because they want
to pursue horse-riding every Friday, says
Bettina Bender, partner in employment
and partnership law at CM Murray.
Particularly if it creates a knock-on
impact to their colleagues who do not.

Foundations

LEGAL 101...

As an employer, it would be sensible to

consider most requests positively, given
that those making them are likely to be
more valuable mid-career staff with
childcare commitments. Most firms
will already have some form of policy on
flexible working 96% did even before
the legislation, reports the Chartered
Institute of Personnel and Development.
The new legislation simply means that
some basic new rules around what was
probably already happening informally,
do now need codifying.

Managers will need to know how to deal with

the fact that saying yes to one persons needs
may mean that when the next person asks for
the same time off, it wont be possible

INGRID SAFFIN
Head of
commercial
property,
Mundays

Once premises have been

secured, tenants need
the fitting-out process to
go swiftly and smoothly
to maximise the benefit
of any rent-free period.
How can you help them
to comply with their
statutory requirements?

n Relaunched bank TSB

Is planning consent
required? Check if planning
or building regulations
consent is required. Speak
to the planning and building
regulations officers and
check how quickly they will
provide consent. Despite
standard deadlines, the
length of time varies from
authority to authority.
Stay in touch with them
during the fit-out so that
inspections take place
when they should. When the
work has been completed,
a final inspection will be
required before a building
regulations completion
certificate is issued.
Produce these consents to
the landlord for approval.

found that realigning working

hours to meet customer
demand for extended opening
hours led to a 3% increase in
income in its first year.
n Ford saves the equivalent
of 3% of total plant costs by
using flexible cover to meet
alternative shift patterns.
n Law firm Eversheds allows
employees to choose their
own working hours, and has
found that 28% of staff report
increased productivity.
n O2 discovered that 36% of
its staff were more productive
when working from home,
while their overall productivity
jumped by 78%.

Are there accessibility

issues? Make sure access
and layout complies with
the Disability Discrimination
Act 1995. Any service
provider under the Act,
such as retail tenants in
A1 (shop), A2 (financial and
professional sevices such
as a bank), and A3 (cafes
and restaurants) premises,
must make reasonable
adjustments to the physical
features of the property to
overcome any barriers to
access. If the premises did
not comply before fit-out,
this is an opportunity to

SARAH JACKSON Working Families

My advice is to draw up a policy, so
staff know what reasonable requests
look like, and what your processes are
for thinking about them, and responding
to potential conflict, says Briggs. Its
important to have at least this in place
because once employers agree to new
hours, it becomes a change to their
employment contract, which is difficult
to reverse once agreed to.
DOWNLOAD A FACTSHEET providing advice
on people management from RICS Small
Business Hub. Go to rics.org/businesshelp

WHY FLEXIBLE WORKING WORKS

The financial benefit to
business from the change in
flexible working legislation
is predicted to come in at
55.8m outweighing
the 39.8m cost to firms.
n KPMG, one of the
legislations signatories, said
it saved 4.7m during the
recession by offering flexible
working hours to staff, rather
than making redundancies.

Fit-out for purpose

rectify matters. The 1995
Act overrides certain lease
obligations around obtaining
a landlords consent. Think
laterally and embrace the
legislation, as compliance
will produce more
accessible premises and
happier staff and visitors.
What about asbestos?
Those most at risk from
asbestos are tradesmen
carrying out works to
premises. The Control
of Asbestos at Work
Regulations 2006 place
on the person whose
responsibility it is to
maintain and repair
premises a duty to assess
them, to establish whether
or not asbestos is present.
Once the risk has been
assessed, that person
is obliged to prepare a
written plan identifying the
measures to be adopted.
Steps must be taken to
maintain in safe condition
any asbestos found, or to
safely remove it. If asbestos
is present and does not
need to be removed, its
location must be clearly
identified so contractors
do not disturb it. Failure to
comply with the regulations
is a criminal offence.
Check the fire safety
obligationsThe
responsible person
must carry out a fire risk
assessment, implement
its recommendations and
keep the assessment under
review, ensuring the safety
of employees and visitors.
The person in control of
the premises usually the
tenant is the responsible
person. Make sure the
works are assessed to
ensure the proper fire safety
measures are incorporated.
mundays.co.uk

M AY 2015_MODUS 49

Income Protection
Insurance Specialists

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600,000 annually. Guide price
for the practice is 700,000.

For further details please write to:

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207 Union Street, London, SE1 0LN

50 RICS.ORG/MODUS

Foundations

RICS books

structure of a company.
Finance can also be raised
by securitising existing
assets into a new financial
product or by disposing of
non-core businesses.

BRAIN GAIN

CORPORATE
CODE CRACKER

SKILLS
JARGON
BUSTER
Understand
the jargon of
corporate
finance on
this one-day
training course:
rics.org/
corporate
finance

Chartered surveyors can benefit from

having an understanding of some of the
corporate finance decisions companies
have to make, such as raising finance and
investing capital. If a business needs
finance, there are questions that need to
be answered. Should the company borrow
money or issue shares? What are the pros
and cons of issuing and investing in debt
and equity? What are the lending criteria for
banks providing the debt, and when should
a private company go public by making an
initial public offering (IPO) of its shares?
There are myriad debt and equity financing
options, and they can often be confusing
to understand. Many people believe,
mistakenly, that debt is not good. However,
leverage can actually increase returns to
shareholders if the company is profitable
or asset prices are rising. There are also
tax benefits associated with debt, so it is
considered an important part of the capital

rics.org/shop

The ultimate aim of

investment activity is to
maximise shareholder value
through, for example, asset
purchases and mergers and
acquisitions. The question
is, where should a real
estate company invest to
grow? With these types
of transactions, the
considerations concern
opportunities to add value,
growth strategies, valuation
issues, and the acquisition
of private and public companies.

Building Contract for a Home

Owner/Occupier who has not
appointed a consultant to
oversee the work (HO/B)
New edition of a bestselling
contract, enquiry letter
and guidance notes.
24.82

The financial crisis of 2008 had an adverse

impact on real estate companies the
dramatic fall in asset prices led to large
losses and a depletion of equity. As a
result, some listed real estate companies
had to issue shares to strengthen their
balance sheet. In some instances, the
amounts received from the issue of
additional shares were used to pay off debt
to avoid breaching banking covenants.

Ferry and Brandons Cost

Planning of Buildings
New edition of the classic
quantity surveying textbook.
Updated to reflect recent
changes in the industry,
especially in procurement.
38.50

Many companies are now at a stage to

take on new projects, and the challenge
is to raise finance and make investments
in a manner that maximises shareholder
value. Once you get to grips with the world
of corporate finance, you can better
understand the decisions companies make.

RICS Building Maintenance

Price Book 2015
Essential for the professional
that wants to avoid undercharging or over-paying for
maintenance work.
145

SAKET MODI is director of Square Mile Global

Consulting. smglobal.co.uk

APP LAUDED

SiteWorks Lite
It is: A smartphone- or tabletbased app that helps you to
supervise and manage issues
on construction sites.
It does: The app replaces the need
for bundles of manual listings and
drawings, helping construction
workers change their workflows

and save time. Once issues have

been identified, you can mark-up
PDF drawings and notify the
stakeholder involved with further
details, photos and deadlines.
You can then follow the progress
of the work and modify your
observations as required.
What else can it do? Organises
your sites, drawings and notes
into folders, gives an overview of
all projects, and merges data from

other users with your local version

so everyone is up to date. You can
convert reports into PDF, Excel or
CSV files to print or share them
via email or cloud storage sites.
SiteWorks Lite is the free
version of SiteWorks and, as
such, is limited to two sites.
Price: Free (in-app purchases
are also available)
Search: SiteWorks Lite at your
preferred app store.

M AY 2015_MODUS 51

Advertorial

BENEFITS
To view the latest offers, new partners and
promotions, visit rics.org/benefitsplus

Across the bestselling London

shirt range, round collars make way
for the classic point, small point, and
curved cutaway collars. Melange and
textured yarns also feature in shirt
fabrics for summer, alongside new,
subtle geometric prints.
Checks are back in all shapes,
sizes and colours and 15 new suits
join an extensive tailoring range, in
a variety of cuts, colours and cloths
and including the new seasons
latest invisible stripes, tonal yarns
and micro designs.
In womenswear, new designs join
a flattering capsule collection filled
with fresh, new tailoring options,
an extended selection of officeto-evening essential dresses,
heritage shirts, soft tops and light
summer knits.
As an RICS member, you are
invited to take advantage of an extraspecial member discount to use at
T.M.Lewin stores nationwide. As the
unsettled spring weather finally eases
into summer, there has never been a
better time to update your business
wardrobe from the new Spring/
Summer 2015 collection ofbusinessready shirts, suits and accessories
for men and women.

ON THE BUTTON

Taking care of business since 1898

from Londons tailoring heartland
Did you know that T.M.Lewin has
been providing the business world
with shirts, suits and accessories
since 1898?
With a real passion for design
and focus fixed on quality, the
Great British businesswear retailer
continues to create fresh, stylish
and versatile collections for
todays professional men and

52 RICS.ORG/MODUS

women, over 116 years after the

very first store opened on Londons
Jermyn Street.
Elegant and understated, the
latest collection for Spring/Summer
2015 has an unmistakably
international flavour. Classic, yet
distinctively contemporary, it is
influenced by the best of timeless,
understated design.

BROWSE THE NEW RANGE in store

or online today at tmlewin.co.uk.
To redeem your member discount,
simply visit rics.org/benefitsplus and
download your exclusive voucher.
Alternatively, you can use the same
promotional code when you next shop
with T.M.Lewin online. For more
information, call +44 (0) 20 7877 3587,
or email corporate@tmlewin.co.uk

Foundations

EVENTS

FULL RICS EVENTS LISTINGS ONLINE AT rics.org/events

For enquiries, call +44 (0)20 7695 1600. All prices are +VAT

UNITED KINGDOM

RICS Industrial Warehousing & Logistics Roadshow

March-May, various locations
Brings together industrial agents, occupiers, logistics
consultants, local council and valuers to debate what
is needed from industry to meet growth demands.
CPD: 4 hours / 150 / rics.org/warehousing
Spring CPD Series
April-July, various locations
One-hour seminars covering topics such as
structural appraisal, management and control
of invasive weeds, and BIM for health and safety.
CPD: 1 hour / 30, 25 for 3 or more bookings /
rics.org/cpdseries
RICS CPD Days
12 May, Birmingham; 18 May, Exeter; 4 June, Cardiff;
10 June, Lincoln
Full of CPD within land, property and the built
environment, the conference also provides breakout sessions for specific learning requirements.
CPD: 6 hours / 145 full day, 90 half day /
rics.org/cpddays
RICS European Smart Cities Conference
12 May, British Library, London
This surveyor-tailored conference examines the
recent developments in the smart cities agenda,
including big data, infrastructure, BIM, investment,
partnerships, and the business opportunity for the
surveyors across the pipeline.
CPD: 5.5 hours / 220 / rics.org/smartcities

RICS Rural Mid-Session Conference

21 May, Perth
This event delivers relevant and timely insights on
key topics for rural professionals such as tax updates,
mapping rural land, and a review of what the law
states with regard to compulsory purchase orders
and how you can give expert advice to your clients
on what can and cannot be claimed.
CPD: 5 hours /65 / rics.org/scotlandrural

RICS Land and

Utilities Roadshow
MayJune,
various locations
With the latest
developments in the
utilities landscape,
cases of wayleaves and
compulsory purchase
orders will become more
pertinent. It is therefore
imperative for surveyors
and landowners to know
the intricacies of what
these changes entail to
provide specialist advice
and mitigate risks to
their businesses.
CPD: 3.5 hours / 80 /
rics.org/landutilities

RICS IPMS seminars

MayJune, various locations
This series of regional seminars is your opportunity
to find out everything you need to know about IPMS:
Office Buildings. The seminars will be led by expert
practitioners and will combine details of the newly
updated RICS Code of Measuring Practice with
interactive case studies in the use of international
property measurement standards.
CPD: 3.5 hours / 150 / rics.org/ipmsseminars

PROPERTY LEADERS SUMMIT

3 June, London

IMAGE CORBIS

RICS North East Summit

19 May, Newcastle
The summit will highlight critical issues such as the
National Infrastructure Plan, devolved powers for the
regions and the housing shortage, bringing together
business and political leaders from both inside and
outside of the region.
CPD: 6 hours / 135 / rics.org/nesummit
RICS Quantity Surveying & Construction Conference
20 May, London
How to meet the quantity surveying challenge
through achieving success in commercial leadership?
Delegates will hear how their fellow practitioners are
taking on this challenge, using real experience and
case studies, illustrating how we can all aim to meet
and exceed client expectations.
CPD: 6 hours / 220 / rics.org/qsconference

Attracting more than 200 professionals and boasting a stellar line-up of speakers,
including broadcaster and journalist Andrew Neil (above), BBC economic editor
Robert Peston and Berkeley Group chairman Tony Pidgely, the summit provides
an excellent opportunity for senior decision-makers to meet and discuss key
issues facing the industry. The programme is formed of three key panel sessions,
allowing for some in-depth debate on the UKs political, economic and social
dynamics. The theme for 2015 has a specific focus on the continued resurgence
of the UK economy and the key role which the property market has to play.
CPD: 4.5 hours / 195 / rics.org/plsummit

M AY 2015_MODUS 53

Notices

OBITUARIES
Please email obituary notifications to
contactrics@rics.org or call +44 (0)870 333 1600

EASTERN

Peter Brown MRICS

1935-2015, Norwich
Alan Leslie Cobb
FRICS, 1921-2015
Bungay
Ronald Lee Cooper
1932-2015
Saxmundham
Charles John Pile
FRICS, 1948-2015
Essex

LONDON

Brian Richard
Anderson FRICS
1942-2015
Paul Barker MRICS
1961-2015, Tring
Norman Reginald
Bowles FRICS
1921-2013
West Drayton
Elena Charalambous
MRICS, 1974-2015
London
Desmond Marcus
Hampton FRICS
1940-2014, London
Louis Antill Lewis
FRICS, 1932-2014
London
Michael John May
1942-2014, London
Andrew Ian Rosenfeld
MRICS, 1962-2015
London

NORTH EAST

John Athol Bennett

AssocRICS, 1941-2015
Newton Aycliffe

NORTH WEST

Tony Richard Bain

MRICS, 1940-2015
Southport
Paul Davies MRICS
1947-2014
Stockport
Alan Kay FRICS
1947-2015, Bolton
54 RICS.ORG/MODUS

SOUTH EAST

Eric Jonathan David

Brown FRICS
1933-2015
Eastbourne
Anthony Richard Budd
MRICS, 1944-2015
Chichester
Robert Arthur
Caukwell, 1928-2015
Brockenhurst
Geoffrey Burges
Cleverley MRICS
1921-2015, Hove
Malcolm Spencer Cory
MRICS, 1929-2015
Alton
James Ronald
Griffiths 1931-2014
Winchester
Keith Henry Parish
FRICS, 1927-2015
Reading
Edward Payne
1920-2015, Lewes
Ronald Rust MRICS
1924-2014
Wallingford
Leslie Arthur Ernest
Thompsett FRICS
1926-2015, Shanklin
Dennis Ernest Weeks
FRICS, 1927-2015
Middlesex

SOUTH WEST

Christopher Paul
Curtis, 1955-2015
Newton Abbot
Alexander Frame
1957-2015
Cirencester
Ronald Charles Gale
MRICS, 1921-2015
Bournemouth
Francis Houlsby
Hughes FRICS
1919-2015
Warminster
Philip Lawler Rushton
FRICS, 1923-2015
Frome

Royston Ernest
William Sandoe FRICS
1925-Unknown, Frome
Peter Albert Richard
Turner FRICS
1930-2015, Bude
David Simpson Young
MRICS, 1931-2014
Bristol

WEST MIDLANDS

Alan Charles Gough

MRICS, 1957-2015
Walsall

Stephen Kevin Jones

MRICS, 1968-2015
Staffordshire

Dennis Frederic Turner

FRICS, 1927-2015
Halifax

YORKSHIRE &
HUMBER

SCOTLAND

Raymond Mann
Hughes
1926-2015, Shipley
John Kitchen MRICS
1948-2015, Keighley
Lance Joseph Spires
FRICS, 1929-2014
Doncaster

Simon Alistair
Andrews MRICS
1968-2015, Ashford
Kenneth Frederick
Apps FRICS, 1911-2014
Dalbeattie
John Duncan
Matheson AssocRICS
1924-2015, Inverness

DAVID DALBY FRICS 1947-2015

Many RICS members will remember former
Residential Director David Dalby, who
retired from RICS in 2012.
After a brave battle with cancer David died
earlier this year. RICS Professional Groups
were represented at his funeral service,
which took place at Gilroes Crematorium,
Leicester. Heartfelt tributes contained references to Davids career
as a chartered surveyor and to the pride he felt when first qualifying
as an RICS member. Many people reflected on Davids great sense
of fun and fellowship and the ceremony featured many of his
favourite pieces of music, including the Karelia Suite by Sibelius.
Associate Directors Graham Ellis and Georgiana Hibberd
worked closely with David as part of the residential team throughout
his time at RICS.
David was regarded by many at RICS as a wonderful and
supportive colleague who directly tackled many issues and achieved
an incredible amount on behalf of RICS members. He was a true
professional with a wry sense of humour and a friend to many
RICS employees and members.
Colleagues have many fond memories of working with
David, whose biggest legacy is the immense contribution he
made to enhancing the role of the residential practitioner.
His numerous achievements include being made a Freeman of the
City of Leicester.
One RICS member who worked with David in the late 1970s
commented that he was always pleasant to be around. Another said:
He worked quietly but effectively for the membership. Residential
surveyors and valuers may not realise it but they owe David a debt
of gratitude for his work on their behalf.

Notices

Dr Roy Charles
Whitehead FRICS
1925-2015, Bressay

WALES

Geoffrey Thomas
Lewis MRICS
1942-2015, Bridgend

ASEAN

Mohktar Mohamed
MRICS, 1954-2014
Selangor Darul Ehsan

If you are facing hardship

after the loss of a family
member, or if you are
considering leaving a
legacy, please contact
LionHeart, the charity for
RICS members and their
families. Call +44 (0)24
7646 6696, email info@
lionheart.org.uk or visit
lionheart.org.uk.

CONDUCT
rics.org/conductcases

Mr David Griffin FRICS, Glasgow

Disciplinary Hearing 24.02.15
The Panel heard the case against Mr Griffin.
Mr Griffin was charged with failure to act
with integrity and/or avoid any actions or
situations inconsistent with his professional
obligations (Rule 3 of the Rules of Conduct
for Members 2007) and failure to submit
in a timely manner information reasonably
requested (Rule 8 of the Rules of Conduct
for Members). The Panel found the
charges proved and imposed a Reprimand
and Conditions.
Mr G McGill and Gregor C McGill & Co,
Cheshire. Appeal Panel Hearing 13.03.15
At a Disciplinary Panel on 22 October 2014
and 5 December 2014 the Panel heard a
case against Mr McGill and his Firm, Gregor
C McGill & Co. The Panel expelled him from
RICS membership and removed the Firms
registration for RICS Regulation.
Mr McGill appealed the decision of the
Disciplinary Panel, which was heard on 13
March 2015. The Panel concluded that the
decision of the Disciplinary Panel was not
wrong and accordingly dismissed his Appeal.

COLIN ALAN LINCOLN KERR 1929-2015

It is with great sadness that we announce the death of Colin
Kerr in March this year. Colin qualified as a chartered
surveyor after the war and he joined Edward Erdman during
the 1950s. In 1980 he became the companys joint chairman,
a position that he held until he retired in 1990. During that
time he was responsible for developing the company into
one of the UKs leading retail surveying practices. The firm
went on to become Colliers Conrad Ritblat Erdman and is
known today as Colliers International.
During his working life, Colin was also an active member of the RICS Sailing
Club. He is survived by his wife Beatrice, his sons Anthony and Stephane, his
daughter Delphine and his step-daughter Rebecca.

Mark Taylor Property Managers

Surveyors & Valuers, Essex
Registration Panel Hearing 11.03.15
The Panel heard an application for
Registration for Mark Taylor Property
Managers Surveyors & Valuers in accordance
with Rule 8.2 of the Rules for the Registration
of Firms 2009. The Panel granted the
application for the Firm to be admitted
to Regulation with immediate effect.

Notices

2014 CPD update

All practising RICS members are required
to undertake at least 20 hours of CPD
each year and record this online.
For 2014, we are pleased to report that
most members around the world fulfilled
their requirements under this rule. As a
profession, we are seeing an excellent level
of engagement and compliance in CPD.
Those members who failed to record CPD
for the first year have been issued with a
caution on their records. In accordance
with our Rules of Conduct for Members,
the small number who are in their second
year of non-compliance received a fine,
and will have their names published.
This is a timely opportunity for practising
members to think about their development
needs for 2015. Remember to record your
activities online at rics.org/cpdrecord.

Valuer Registration training module

As part of its regulatory function, RICS
provides advice and guidance to help
members comply with standards and
rules of conduct. Last year, we released
a Valuer Registration training module
that brings valuers up to date with
the Red Book 2014. Hundreds of UK
Registered Valuers have already finished
the course, which provides one hour of
formal CPD.
If you are a UK Registered Valuer who
has not yet completed the course but
would like to, follow these instructions:
nVisit: https://ola.rics.org/site/
login.php
n Enter your RICS membership number
and password
n This will sync the module to your
account and you can start learning.
If you start the course but wish to log
on another time to complete it, follow
these steps:
n Go to https://academy.rics.org and
click the login button at the top
n Enter your RICS email address and
password
n This will take you to your Online
Academy account summary
n Click the launch my courses button
to access any courses you have.

M AY 2015_MODUS 55

RICS Recruit
Matching the right talent
to the right projects
RICS Recruit is the UKs No. 1 built environment
job recruitment board. It gives you unparalleled
access to the surveying and property sectors
with almost 1,100 active vacancies in the UK
and around the world.
Graduate and Executive hub packed full of
knowledge and guidance to support your
career development.
Get access to leading companies who are
looking for RICS members like you who have
the right skills and knowledge.
Access RICS Recruit via your smartphone
or tablet to search and apply for jobs.

Find your future job today

ricsrecruit.com

@ricsrecruit

RICS Recruit

ricsrecruit.com

ing
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Com
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al
Pr
o

pe

ction
stru
Con

Susta
inab
ility

rty

Bu

Valuation

g
yin
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Su

isurv

l
Rura

Professi
o
n
a
l
Con
du
ct

Work smarter
not harder

isurv

The surveyors essential

tool at your fingertips
isurv is the online information portal from RICS providing
the perfect resource to ensure that you are up to date
with the latest built environment developments and
the practical implications that changes will have on
your working practices.
isurv:
can help you reduce risk and provides reassurance

can save you valuable time and is a cost effective

information resource.

R
e
sid
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nin
an
Pl
Legal

For more information about how isurv can benefit you

visit rics.org/isurvhub or call 0247 686 8433 to buy now or request a free demo.

Find a Surveyor

Raise your profile in your local market

and attract potential customers via
RICS Find a Surveyor
Find a Surveyor receives over 30,000 monthly visits from
members of the public looking for chartered surveyors in
their local area. Surveyors who maximise their presence
on Find a Surveyor are 75% more likely to generate leads
than those who have a basic listing.

For more information about Find a Surveyor visit ricsfirms.com or call +44 (0)20 7880 6221.

M AY 2015_MODUS 57

ricsrecruit.com / To advertise, email angus@wearesunday.com or call +44 (0)20 7871 2667

Recruitment
SENIOR PROJECT MANAGER, SCOTLAND
(AND LEAD PROJECT MANAGER FOR AECC)
CENTRAL BELT OR ABERDEEN (FLEXIBLE), Competitive Remuneration Package
Established 125 years ago, Henry Boot PLC is a Sheffieldbased group listed on the LSE and is one of the UKs leading
property investment, development and construction companies.
Henry Boot Developments Limited specialises in both the public
and private sectors and operates across the UK via offices in
Glasgow, London, Manchester, Bristol and Sheffield.
This track record with the public sector has been central to
Henry Boot Developments Limiteds successful bid to deliver
the new AECC at Bucksburn and to redevelop the existing
AECC site at Bridge of Don. This 300m project will deliver the
AECC and develop the surrounding site, including three hotels,
office and retail space and a 50m energy centre.
Candidates will have project management experience from a

development, construction or consultancy background, including

leading projects of >80m from outset to completion.
The Project Manager will work with people of all levels, building
relationships with contractors and sub-contractors, the Aberdeen
City Council and the board of Henry Boot. As this person will
often be working remotely and taking leadership for this highly
significant project, the ability to build trust and give frank and
honest appraisal is crucial.
The AECC is without doubt one of the largest and most complex
development projects in Scotland of recent times. The opportunity
to lead this project, as well as grow a broader remit within the
Henry Boot Developments Limited Scottish business, offers
potential candidates huge scope to carry out high profile work and
be involved in a growing business.

Please send a full CV including details of current remuneration to

Lesley Dall, FWB Park Brown Ltd, 19 Alva Street, Edinburgh EH2 4PH. Tel: 0131 539 7086 Email: submit@fwbparkbrown.com

CHARTERED SURVEYOR
Bruce Mather is a diverse practice developed over many years to
provide professional advice in sales, valuations, agency and planning
matters in all areas of work to its impressive client base.
An excellent opportunity has arisen for a qualified Surveyor and Valuer
to join us based within our remarkable team at Boston Lincolnshire.
The successful candidate will:
Be a member of the RICS
Have the drive to work on their own initiative as well as part
of a dynamic team
Enjoy being rewarded for outstanding performance
Thrive when working with and growing a notable client base.
Possess a full driving licence.
Salary package 25,000 - 35,000 commensurate with experience
Please send your CV and covering letter to James Mather:
james@brucemather.co.uk or call 01205 365032

The June issue will be published on 2 June

Recruitment copy deadline
Tuesday 28 April

58 RICS.ORG/MODUS

Finding the right opportunity for you!

Residential Valuation Surveyors

Full and Part-Time positions exist in: London (Central,N,NE,NW,E,S,SE)
Aberdeen, Basingstoke, Bexhill, Brentwood, Bristol, Bromley, Cambridge,
Cheltenham, Chichester, Colchester, Croydon, Dartford, Devon North, Doncaster,
Exeter, Glasgow, Gloucester, Harrow, H Wycombe, Ipswich, Leicester,
Liverpool, Maidstone, Northants, Oxford, Penzance, Plymouth, Preston, Reading,
Romford, Rye, Sevenoaks, Southend, Slough, Swindon, Tonbridge, Truro
Uxbridge, Walsall. Also: Staff Surveyors(premier employer - top package) NW
London, Colchester/Ipswich, Sheffield, Cheltenham/Swindon, Coventry/
Leicester, Bolton, Stoke. Also: Regional Surveyor/Manager - London
Existing or past experience of undertaking mortgage valuations and Homebuyer
reports required. Client employers include smaller local practices to major surveying
organisations and direct lenders. The current demand for surveyors is reflected in the
excellent remuneration packages available.
We are experts at finding you the right job in the residential surveying sector.
We discuss your objectives and advise you with the most suitable and widest
choice of opportunities. We take away any pressure and stress by arranging
the job applications and resulting interviews for you.
Please call to find out more: Jeff Johnson on
07940 594093 or email your CV in confidence to:
jjohnson@mlarecruit.com

www.mlarecruit.com

Recruitment

MB19161_S&V_Modus_looking_for_a_new_home_update_aw.indd 1

19/03/2015 15:34
M AY 2015_MODUS 59

To view more jobs online visit ricsrecruit.com

HEAD OF ESTATES
ALDERSHOT OR MAIDSTONE
The South East Reserve Forces and Cadets Association will have a
vacancy in June for a Head of Estates based either at its Head Office
in Aldershot, or sub-office in Maidstone, with overall responsibility
for a variety of Reserve and Cadet properties in the South East.

Your career
Designed your way

They will be responsible to the Chief Executive for providing technical

direction, advice and assistance on the implementation of all building,
mechanical, electrical and civil engineering matters. This includes
supervision and control of a small team of estates and administrative staff
to ensure value for money management of the Associations properties.
Applicants will ideally be members of the Royal Institute of
Chartered Surveyors or hold similar professional qualifications,
have experience of budgetary control and be computer literate.
Starting salary is 36,562. In addition, the Association operates a
generous final salary pension scheme, 25 or 30 days paid holiday
(subject to eligibility) and provision of a company car. There is scope
for the incumbent to enhance their professional qualifications once
in post, for which financial assistance may be provided.

For a full job description and an application form, contact:

Mr J Taylor, SE RFCA, Seely House, Shoe Lane, Aldershot,
Hants. GU11 2HJ. 01252 357606, se-offman@rfca.mod.uk

Property design and management services

Delivered from our fast growing network of offices throughout the UK.
As part of our continued success and growth, we are currently recruiting
across the country for Quantity Surveyors at all levels, including:
Chartered Quantity Surveyor
Norwich - up to 45,000 + benefits
Senior Quantity Surveyor
London - competitive salary + benefits
If you are looking to grow your career and achieve a great work-life
balance, then NPS is for you.
For more details: E donna.owen@nps.co.uk T 01603 706029

Closing date: 29th May. Interviews: 17th June.

@npsgroupuk | nps.co.uk

Residential Valuation Surveyors

Do you want to work for a private firm with a corporate attitude - a firm that is quality driven and that has a strong tradition of
VALUING its surveyors as INDIVIDUALS.
Valunation is part of one of the countrys largest independent and privately owned Estate Agency groups with over 200 branches
and were looking to further expand and strengthen our national team of residential valuation surveyors.
This is your opportunity to make a positive and rewarding change to your working life and join a leading name in the residential
surveying marketplace where we pride ourselves on the emphasis we give to the quality, rather than the quantity, of what we
deliver.
We have vacancies for RICS qualified and registered experienced residential
surveyors, who are highly motivated. You must be familiar with undertaking
valuations and surveys for both lenders and private clients
There are immediate vacancies in London and the South East but new vacancies
are being added all the time, so send us your CV and we will contact you when a
vacancy arises.
We offer a competitive benefits package including private medical care, life
insurance, Audi car scheme or car allowance, together with a generous bonus
scheme. We are also happy to consider part-time or flexible working.

If you are interested in joining us we would be delighted to hear from you.

Please email your CV directly to kimberley.stockley@valunation.com or call
Paul Lancaster on 07974 090 113 or David Atter on 07973 543 010 for a confidential chat.

60 RICS.ORG/MODUS

Recruitment

further your career

Chartered Building Surveyor

Senior Quantity Surveyor

Associate Quantity Surveyor

This multi-discipline consultancy has

recently been voted among the top 30
in the UK, oering award winning
services which consistently exceed
client expectations. They have an urgent
requirement for a Chartered Building
Surveyor. Your role will be to maximise
the potential value of your clients assets
through development and
refurbishment, providing innovative
design, project management, contract
administration and employers agent.
The successful candidate will be MRICS
and have sound Pathology skills.

With continued growth and an expanding

client base, this dynamic Building
Consultancy is on the lookout for a MRICS
Chartered Quantity Surveyor to help the
rm continue to deliver on a broad range
of exciting projects, including residential,
retail, commercial and education. The
ideal candidate will have experience
within a Project Management and
Employers agent role. You must be
ambitious and looking to take on new
challenges.

Specialist multi-discipline surveying and

design consultancy who have
established an enviable reputation are
looking for a Senior Building Surveyor to
join their Central London team. The ideal
candidate will have a well-rounded
range of experience of running projects
and contracts up to the value of
2million. You will possess a strong
background in professional services,
with dilapidations and due diligence
being of particular interest. It is
preferred you will have a background
working for one of the large commercial
consultancies.

Liverpool
40,000-45,000 Plus Benets

Chartered Building Surveyor

Exeter
49,000-52,000 Plus Benets

Birmingham
45,000-50,000 Plus Benets

Quantity Surveyor / Employers

Agent
Birmingham
48,000-55,000 Plus Benets

A leading global consultancy requires an

experienced Chartered Building Surveyor
to provide a range of professional services
to their public sector clients. Main duties
will include the development and care of
the current client portfolio, and developing
a strategy to gain new business. You will
be expected to take ownership of a team
and be decisive in the direction you want
to develop client relationships through a
bespoke service.

With over ve decades of delivering

professional services, this ambitious and
well established team is keen to grow and
expand the business. This is a fantastic
opportunity for the right individual to
progress their career within an exciting
rm. The ideal candidate is seeking a new
challenge, is Chartered or working towards
becoming RICS qualied, with some
experience of acting as an Employers
Agent with a background in the residential
and commercial sectors.

Associate Quantity Surveyor

Senior Chartered Quantity Surveyor

Central London
60,000-70,000 Plus Benets

One of the worlds leading construction

consultancies, with both national and
international oces, is on the search for
an associate level MRICS qualied
quantity surveyor to join their busy
London team. The ideal candidate will
have worked across a wide range of
sectors and have excellent experience
managing a team of surveyors on a
variety of projects. You will be
comfortable in a client facing role, and
have good communication skills.

Surrey
45,000-50,000 Plus Benets

Multi-disciplinary rm is on the search for a

Senior Chartered Quantity Surveyor to join
their hugely successful and expanding
Surrey oce. The ideal candidate will
have experience of working on projects
within a wide range of sectors, along with
experience of undertaking a lead role on
projects from inception through to
completion. It is preferred that you be
MRICS qualied, although our client would
also consider candidates who seeking to
achieve an MRICS qualication.

Central London
60,000-70,000 Plus Benets

Senior Building Surveyor

Central London
50,000-60,000 Plus Benets

This specialist provider of building

surveying services operates across all
sectors within the property industry.
They are on the search for a senior level
building surveyor to join their Central
London oce. The ideal candidate will
be MRICS qualied, currently in a senior
level role with experience of
undertaking work within a wide range of
sectors and professional services. This is
a prime opportunity to join a well-known
and highly sought after consultancy who
can oer career satisfaction and
progression, with the chance to work on
some interesting and niche projects.

Find more jobs online at

conradconsulting.co.uk
For more information about any
of these positions, please contact
kevin@conradconsulting.co.uk
or call 0203 1595 387

For a condential chat, call us 8am to 8pm on 0203 1595 387

M AY 2015_MODUS 61

To view more jobs online visit ricsrecruit.com

Residential Surveying Opportunities

With the second quarter well under way, demand for Residential
Surveyors remains high nationally. Whilst activity in the South is
greater by volume, the market across the UK is strong, a fact
supported by recent lender projections. If your annual review didnt
result in the pay rise expected, your withheld bonus was less than
hoped or panel changes have had a detrimental effect on your
earning potential or patch parameters... we can help!
We have a deep, first-hand
understanding of the residential
surveying sector built over many
years servicing it at all levels
nationally. With access to (and
preferred or sole agency status with)
many leading employers, we offer
a truly one-stop-shop recruitment
service to applicants who can be
sure of discretion, consultation and
transparency from registration to
securing a new role and beyond.
Our website is updated with the
latest vacancies by the hour and
our offices are always open for
those who would prefer to visit
and discuss their needs in person
in or outside of business hours,
or at weekends by arrangement.

62 RICS.ORG/MODUS
62

We welcome enquiries
(in confidence, without
obligation and however
speculative) from:
Residential surveyors already
working in the sector
Residential surveyors who left the
sector post 2008, but would like
to return with refresher training
Semi-retired surveyors (with
residential experience) keen to keep
active on a part-time/flexible basis
Freelance surveyors keen to
secure additional fee-sharing
instructions
MRICS-qualified surveyors
with relevant although perhaps
not direct inspection or
valuation experience.

Staff Valuers/ Residential

Surveyors keen to work
client side
We can help you achieve:
An improvement in earnings,
be that basic salary or a
bonus scheme that offers
greater incentives
A reduction in hours or a
move to part-time or zero
hours working
A reduction in the volume
of work that you are expected
to handle
An improvement in the general
quality of your instructions or
fee levels.

Recruitment

Franchise / Directorship
Opportunities Our client is a growing,
national brand of surveyors which
operates independently at local level
through an extensive network of
franchise type offices and full time
employed surveyors UK wide. Our
client does NOT service lender/panel
work rather high value private instructions
which include Building Surveys,
Homebuyer Reports, Residential /
Commercial Valuations and wider
professional services such as party wall
awards. They currently seek new start up
directors in the Midlands (Warwickshire/
Coventry / Leicestershire), West Sussex
and Norfolk / Suffolk. As well as the
freedom of running their own business
successful applicants will enjoy excellent
earning potential and full support (and
work flow) from central office.
We are regularly instructed for both
full-time and zero-hours surveyors
in the following postcodes: All
London postcodes (N, NW, W, SW, SE
& E), Essex (SS, CM, RM, CO, IG & E),
Hertfordshire (AL, SG, WD, EN),
Bedfordshire/Luton (LU, MK), M4
Corridor generally (SL, RG, OX, SN),
East & West Sussex (BN, TN, RH),
Dorset, (DT, BH), Hampshire (SO, PO),
Surrey (CR, TW, KT, SM, GU), Kent (ME,
TN, CT, BR, DA), Gloucestershire (GL),
Bristol (BS), Cardiff/South Newport
(CF, NP), Chichester, Basingstoke
Aberdeen, Northants, Uxbridge,

Harrow, Twickenham, Swindon,

Leicester. Remuneration includes a
basic salary of 40-55k (depending
on location), bonuses (based on fee
income), a car (or allowance), healthcare
and pension.
Staff Valuer / Client-side
opportunities. We recruit nationally for
both lenders direct and the surveying
arms of wider financial services groups
undertaking in-house / top-tier valuation
work on an exclusive (non-volume) basis
in select locations UK wide. We have
immediate requirements in Fareham
(Hampshire), W/SW London, Surrey and
Chatham (Kent) with additional vacancies
to follow. We are happy to retain CVs (in
confidence) for future needs in other
patches if your location isnt listed.
Trainee residential surveyors
required nationally. Our client is
an independent, well-established
and growing firm of chartered surveyors
undertaking the full range of survey and
valuation services for main lenders and
private clients. They are able to train
enthusiastic chartered surveyors from
most backgrounds so previous
residential surveying experience is not
essential. Opportunities currently exist
in Worcester, Hereford, Gloucester, SE
London, Cardiff / Newport, Taunton,
North West / North London with
additional requirements to follow.
Basic salary to 45k + Bonuses.

Opportunities within panel appointed practice-based

environments (with a focus on
service over volume but not at
the expense of job security)
Vacancies in all London
postcodes (particularly south of
Thames), Essex, Kent (ME/CT),
Reading / M4 corridor, Bristol
and Oxford. Our clients are
traditional, independent private
practices who service main lender,
private client and in-house (agency)
instructions undertaking the full
range of residential reports for high
average fees. Their ethos is quality
over quantity and, as such, surveyors
working for them are not put under
the same pressures as they might
be elsewhere in the sector. Basic
salary circa 50k+ with excellent
zero-threshold bonus scheme,
quality car and benefits.
To express your interest
please contact:

Greg Coyle
Head of Property
Recruitment
020 8514 9116
GregC@bbltechnical.co.uk
www.bblproperty.co.uk

M AY 2015_MODUS 63

To view more jobs online visit ricsrecruit.com

Residential Compliance Surveyor

Flexible role

Are you a qualified chartered surveyor/registered

valuer with over two years experience of
completing mortgage valuations, Homebuyers
reports or building surveys? Are you looking for
a varied day working full or part time, or a mix of
in the office and out doing surveys?
Metropolis Surveyors LLP is a busy residential
surveying practice covering the UK. We are looking
to fill a professional role working with the Head
Office Compliance Team, offering technical and
procedural advice to the internal teams and field
surveyors in relation to queries, reporting, lender
guidelines, valuation challenges and complaints.

Essential requirements
Membership of RICS/registered valuer status
At least two years post-qualification experience
in residential valuation
Good knowledge of residential property defects
Good understanding/experience of the
residential sales/mortgage/secured lending
process
Excellent communication skills written
and spoken
Attention to detail and the ability to multitask
Good IT skills Microsoft Word/Excel
A sense of humour

Ideally based at Head Office in Cheshunt, Hertfordshire, but also possibility

of part home working/flexible hours. Salary is dependent on experience.
Send enquiries with a CV, covering letter and salary expectations to
kirsty.saunders@metropolis-surveyors.com.

Stratum Search & Selection is a specialist recruitment company exclusively for the construction industry.
We offer recruitment within Quantity Surveying / Cost Management, Claims & Dispute Resolution,
Commercial and Contract Management, Project Management, and Estimation.
QUANTITY SURVEYOR - APC OR RECENTLY CHARTERED RETAIL
Central London | 35,000 - 47,000 + benefits
This company is a Central London based construction firm that are currently
experiencing a period of growth in their busy Central London office and are
now looking for a Quantity Surveyor / Intermediate Quantity Surveyor to
work on a range of high paced fit-out and rollout retail projects.
QUANTITY SURVEYOR LEADING CONSTRUCTION CONSULTANCY
Greater Manchester | Salary: 40,000 50,000 + car allowance + benefits
Well respected National & International construction consultancy who
work in commercial and private residential sectors are looking for a
Chartered Quantity Surveyor with 1 - 8 years PQE working in a consultancy
environment. One of the most well respected consultancy with excellent
career progression.
QUANTITY SURVEYOR - APC OR RICS LEVEL QS EDUCATION BUILD PROJECTS
Central London | 35,000 - 45,000 plus benefits
APC or recently Chartered Quantity Surveyor to join construction
consultancy and work on range of projects within education, residential, and
commercial. Friendly open working environment who also have a successful
business plan which has led to this vacancy. Excellent management, staff
incentives, and career prospects and training.

c +44 (0) 1189 077077

64 RICS.ORG/MODUS

QUANTITY SURVEYOR - APC OR RICS LEVEL QS EDUCATION BUILD PROJECTS

Central London | 35,000 - 45,000 plus benefits
APC or recently Chartered Quantity Surveyor to join construction
consultancy and work on range of projects within education, residential, and
commercial. Friendly open working environment who also have a successful
business plan which has led to this vacancy. Excellent management, staff
incentives, and career prospects and training.
ASSISTANT / APC QUANTITY SURVEYOR HIGH END RESIDENTIAL PROJECTS
London | 32,000 - 38,000 + benefits
Their successful London commercial team is now looking for an Assistant
Quantity Surveyor who is able to run a diverse range new build and
refurbishment high end residential projects. 30m one off houses or
high-end volume residential apartments. Second to none APC training
and an excellent working environment.
SENIOR QUANTITY SURVEYOR PROGRESS TO ASSOCIATE
London | 45,000 - 55,000 + car allowance, pension, BUPA
Their successful London team is now looking for a Quantity Surveyor / Senior
Quantity Surveyor who is able to run a diverse range new build commercial,
resi, hotels, and mix use projects. Must have excellent client facing skills,
be commercially aware, and want to work for a consultancy where you can
progress to Associate Director.

m contactus@stratumsearch.com

w www.stratumsearch.com

Recruitment

Leverhulme Estates
PROPERTY MANAGER
Wirral

Leverhulme Estates owns four Estates centring on the

Wirral. The Estates comprise agricultural, residential,
retail, commercial and leisure premises and provides
an opportunity for a competent Property Manager to work
with a wide range of vernacular buildings, in an area of
outstanding beauty.
The applicant will be required to have at least four years experience
in carrying out measured surveys; producing plans and elevations
using CAD; must be proficient in producing specifications for
projects using either planning schedules and/or an NBS programme.
The Property Manager will also be required to liaise with clients,
contractors, tenants and assist with the day-to-day maintenance
and improvement of the Estates properties.
The post offers an opportunity to work with a small management
team and within a larger multi-disciplined practice.
Salary in the region of 30,000 per annum depending on
experience, with assisted travel costs and relocation expenses.

Please submit your covering letter and CV to:

Leverhulme Estates, Hesketh Grange,
Manor Road, Thornton Hough Wirral CH63 1JD
or barbara.brooks@leverhulmeestates.co.uk

Building Control Surveyor

Planning and Transportation

Salary: 28,746 - 30,978 per annum (SCP 33-36)

Are you looking for a new challenge within an excellent
council? Hyndburn sits in the heart of Pennine Lancashire,
with a rich industrial heritage and stunning landscapes. With
a mix of rural and urban locations, and diverse community
groups, you will have the opportunity to build on your existing
experience, help drive the future of the borough and be part
of a number of exciting new developments.
Based in Accrington, home of the NORI brick and just 20 miles
north of Manchester, we are well served by both the rail and
motorway networks. We offer a fantastic range of employee
benefits within a friendly and highly-motivated authority.
Closing date: 20 May 2015 Vacancy Ref: 972
Application forms and further information can
be downloaded from www.hyndburnbc.gov.uk

RESIDENTIAL VALUATION SURVEYOR OTE 50-80K+

We are an award winning team of honest approachable experts. Our core values create a lovely bunch of best in class
professionals. We truly are great friends and are on top of our game. With offices in Croydon we are looking for residential
surveyors to undertake mortgage valuations, Homebuyer Reports and Building Surveys in BR CR DA KT RH SW SE TN TW
& W postcodes. Home working support is available. Our clients include Santander, Lloyds Banking Group, HSBC, Metro Bank,
Handelsbanken and many more. In fact we are about to introduce several new lenders to our portfolio.
Ideally you will already know your geographic area well, however we have full relocation packages available for those
of you considering a move. You will need to be AssocRICS, MRICS or FRICS Registered Valuers with a clean PI record.
Our team made the move from the corporate world and now earn more, play more, smile more, laugh more and win awards too!
If you believe you are the best at what you do, or have the passion to become the best in the field, we would
love to hear from you. We will look after you in the same way we look after our existing team and clients.
For an informal conversation, please contact Joe Arnold on 077650 33650,
or to apply send your CV to talent@arnoldandbaldwin.co.uk

M AY 2015_MODUS 65

Mind map

WHAT IS CHINAS
URBAN FUTURE?

The countrys New

Urbanisation Planning
Policy for 2014-2020 is
an attempt to create future
cities that are compact,
efficient, sustainable and
inclusive to existing
communities.

Keith Griffiths, global chairman,

Aedas, Hong Kong

20 million
people are
urbanising each
year many towns
are becoming cities,
and new cities are
rapidly being
built.

China already
has the three largest
megapolises in the
world Guangzhou,
Shanghai and Beijing
and is developing models
of urbanity that far
exceed any current
urban densities.

Urban
densification will
be best achieved by
coordinating transport
nodes and creating innovative
mixed-use buildings that
promote activities and life
at all levels of the
buildings.

ILLUSTRATION STUART PATIENCE

Although
urbanisation in
China has succeeded
in lifting half a billion
people from poverty, it
has brought with it huge
issues of pollution,
social inequality and
urban sprawl.

66 RICS.ORG/MODUS

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