NACORE UK, joint sponsors of Occupiers Property Databank’s (OPD) Total Occupancy Cost Code launched in October last year, addressed the topic at the SPR Occupiers Group meeting, held earlier this month.

The Total Occupancy Cost Code is the first real attempt to establish the full range of occupancy costs. Headings under the Code include traditional costs such as rent and local property taxes; capital expenditure such as fitout; operational costs such as internal and external maintenance and cleaning costs; business support; and finally management costs covering real estate and facilities.

Christopher Hedley of OPD described how the completion of the Code will satisfy "the need to be able to make a much fairer comparison between a traditional and a serviced office, showing perhaps that they are not as expensive as all that. The Code should help to inform management, to get the story right, providing a measurement system which can be used in understanding the structure of costs and in tracking performance."

Diary Date
AMEC Facilities is sponsoring a BIFM event on the 10th May at the London Underwriting Centre. The presentation will explore life cycle cost applications within today’s FM environment, providing a broader concept of life cycle costing and applying the theory into practice. The event will also highlight the role of the FM at the building design and planning stage addressing the question "What is the cost of getting it wrong?"

For more information, contact Helen Tran. helen.h.tran@200gds.amec.co.uk

Anna Lagerkvist