According to NB Real Estate, in October 2008 approximately 13% of all commercial property in the UK was empty, which compares with 10% in March 2007. Unoccupied premises are vulnerable to theft and malicious damage, arson attacks and graffiti, and are a real magnet for anti-social behaviour.
Due to the high risk of arson, some insurers are refusing to cover unoccupied buildings. Those who do provide insurance cover for long-term vacant properties ask for substantially higher premiums. That situation can only be changed if every possible step to protect the properties adequately is demonstrated.
If adequate measures are not taken, owners/occupiers won’t fulfil their minimum legal obligations and property and security managers can find themselves directly responsible for – or ‘exposed’ to – high risk.
Property management Best Practice
The Unoccupied Buildings seminar is being organised by the London branch of the British Institute of Facilities Management (BIFM), and sees speakers from vacant property specialist SitexOrbis (formerly Orbis Property Protection) and insurer Norwich Union – soon to be rebranded Aviva – explain empty property management Best Practice and, at the same time, advise on sound insurance.
This BIFM London Region seminar will help delegates understand the risks associated with vacant properties, and learn the most cost-effective ways of mitigating them. Minimum insurance requirements necessary to fulfil Health and Safety and insurance obligations will also be covered. All delegates will receive a Code of Practice for Empty Buildings, and a checklist to help them manage the problems mentioned.
A key element in vacant property management is of course property security. The seminar will look at problems arising from a need for additional security and the implications on insurance cover.
The event starts at 6.00 pm at Lloyd’s of London, One Lime Street, London EC3M 7HA, and is hosted by the ISS Coflex Facilities Team.
Reserving your place at the seminar
Places are limited, and entry is by advance booking only. To reserve your place please e-mail [email protected]
