EDP HELPS REDUCE FAMOUS ESTATE'S COMPLIANCE COSTS AND OVERALL SPEND BY £1.5M
Tailored approach maintains compliance standards while reducing costs
This estate is an independent commercial business created to ensure the land and property it invests in and manages is sustainably worked, developed and enjoyed.
It has a portfolio ranging from country estates and schools to farms and factories, all of which must be managed in accordance with the statutory requirements for health, safety and environment inspections.
With no strategy across the estate’s large rural portfolio, its property agents were managing it on a ‘per property’ basis, which was proving extremely costly.
The decision was therefore made to work with a company that had specialist technical expertise and experience of managing compliance issues in large, geographically spread property portfolios; one that was able to streamline the process, reduce the cost of compliance spend and achieve business cost savings overall.
The estate appointed EDP because it could offer a tailored approach to the portfolio’s needs and demonstrate how it could save well over £1m across the portfolio.
EDP used its knowledge and experience of the market to drive down the price of audits from other suppliers and managed the whole project across the complete portfolio in a cost-effective manner.
Over four years, its senior consultants worked closely with the estate and its managing agents in providing strategic and practical support solutions, using a risk based approach to the state’s compliance activities.
Acting as the key linchpin between the estate’s portfolio and its managing agent, EDP created best practice documentation and a four-year management compliance action plan covering the whole portfolio.
It continues to provide support and expertise to the managing agents in prioritising surveys, analysing reports and planning remediation work, as well as training and guidance in compliance management.
With EDP’s support, the property estate reduced the cost of compliance and overall spend by 75% (from £2m to £500,000) while maintaining high standards. It has also seen improvement in communications with the managing agents and time-efficient activities overall.