STANDARD LIFE INVESTMENTS

Standard Life Investments owned Las Mercedes business Centre near Barajas airport in Madrid, formed of 9 buildings, 80k sqm, 4 restaurants, gym, several shops and offering outstanding services to their occupiers.

When the landlord started questioning the sale of the centre, they considered partial sales, per building. I advised that given that the value added was based on the services provided, rather than the location, selling per building, would potentially make them lose the capacity to decide what services are provided.

Maintaining the high standards of soft services, resulted in the full occupation of the centre, and a successful posterior sale, evidencing how Hard and Soft FM can affect positively the value of a building, as well as its operational profit.