CASE SUDY LGIM & BELLROCK
INTEGRATED
INVESTMENT
Sara Bean hears how LGIM is working with Bellrock to deliver a new
innovative FM integrator model across its UK investment portfolio which
aims to help establish it as the property owner of choice
There can o en be a challenging relationship
between property managers and facilities
managers. With the former more concerned
with a building as a physical asset, and the
latter focused on the people using the space.
PMs tend to put emphasis on the assets part
of the equation, which can leave FMs feeling
they’re relegated to ‘the boiler room’ with little
opportunity to contribute to the strategic vision.
Mark Tyson, Head of Property Operations at LGIM
28 DECEMBER/JANUARY 2021
Real Assets, has long championed the use of data to
measure service delivery, in order to build the user
experience and how it demonstrates the strategic
role played by FMs in improving performance. At
LGIM Real Assets, one of the largest private market’s
investment managers in the UK, he’s taken that
thinking and successfully applied it to the managing
agent model.
This resulted in the appointment of workplace
solutions provider Bellrock, to deliver a new data
led FM Integrator ‘Mercury Model’ across
LGIM Real Assets’ UK investment portfolio,
which covers 142 properties, including
32 multi-let o ices, over 1,000 occupiers
and more than £30 million per annum of
managed supply chain service. This has
resulted in the delivery of a truly strategic
programme which puts FMs into equal
partnership with managing agents. This
initiative is not only driving service delivery
but meets a variety of strategic targets -
including sustainability, health & wellbeing,
lease management objectives and the social
value of assets in local communities.
Tyson explains: “I feel quite lucky really
because I’ve had the opportunity to
create something very di erent. I had a
background in FM at Mitie and then worked
at Capita as a managing agent and the brief
from LGIM was ‘reimagine the managing
agent model to put the occupier at the
centre of what we do and establish L&G as
the property owner of choice in a rapidly
changing market.’”
One disadvantage he notes about the
prevailing managing agent model is that
it’s o en the managing agent who is
perceived as the owner of the building –
which doesn’t help promote the brand of
the asset holder. In addition, if a managing
agent is running assets worth millions of