Archive - Tuesday, 13 April 2004


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Companies waste £18bn on property

A new guide to efficient property management has been released by HSBC and the Royal Institution of Chartered Surveyors (RICS).

According to RICS, more efficient property management could boost profitability of UK businesses by up to 13 per cent.

The new CD-ROM guide aims to help businesses achieve those higher levels of profitability.

Called the HSBC Bank Guide to Business Property, it was developed following evidence that UK businesses are wasting up to £18 billion a year because of inefficient property practices.

According to the guide, owner-occupiers waste space, compared with tenants, losing up to £9.5 billion in potential cost savings.

Meanwhile hot desking and other new working practices could save a further £6.5 billion.

The guide will also cover how to find the right premises, buying versus leasing, tax allowances and property insurance

For a free HSBC Bank Guide to Business Property CD-ROM, visit www.ukbusiness.hsbc.com/businessproperty or telephone 08000 321 322, 9am to 5pm, seven days a week.