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The data archive is a collection of transcripts of semi-structured interviews with a range of organisations involved involved in the production and regulation of housing in London and the UK. They relate to two fields of analysis: (i) interviews with those responsible for the regulation and planning of housing development at multiple scales - including policy-makers, planners, negotiators, specialist regulators (including financial), and consultants; and interviews with private sector investors, developers, house-builders, project managers, and consultants.

Businesses need property in order to generate turnover and profits. If real estate owners are to be able to provide properties and related services that are desirable, it is crucial that they understand tenants’ requirements and preferences. Changes in the way businesses operate might well lead to an overall reduction in space requirements in all sectors. Faced with reductions in demand, landlords will find themselves in an increasingly competitive marketplace for tenants. Of the array of strategies available to landlords, what strategies should they employ for maximum effect? This paper examines what United Kingdom tenants want from commercial property (retail, industrial and office). The first part provides an analysis of data from several hundred interviews with occupiers of commercial properties owned by some of the largest UK real estate investment companies. Results are presented for each of the asset classes separately. The second part compares the findings with previous research and discusses the strategic implications for landlords.

Customer Relationship Management (CRM) theory suggests that good customer service results in satisfied customers, who in turn are more likely to remain loyal and recommend the service provider to others. Applied to real estate, this theory implies that landlords should see a return on any investment in the service they give to tenants, in the form of increased lease renewal rates and fewer void periods, achieved without compromising rents. This paper examines determinants of occupier satisfaction, and investigates the relationship between occupier satisfaction and property performance, using measures such as capital growth, income return, lease renewal rates and total return. The analysis is based upon a pilot study using occupier satisfaction responses from around 2500 interviewees based in multi-tenanted offices, shopping centres and retail warehouses on out-of-town retail parks in the UK. The analysis is being extended to cover a larger sample for the author’s PhD. Part 1 of the analysis examines occupier satisfaction, whilst Part 2 considers its impact on property performance.

Customer Relationship Management (CRM) theory suggests that good customer service results in satisfied customers, who in turn are more likely to remain loyal and recommend the service provider to others. Proponents of good customer service for tenants claim that landlords should see a return on any investment in their customer service, in the form of enhanced real estate performance. This paper begins by reviewing research on customer service returns in other industries. Through consideration of the characteristics of real estate markets, the paper explains how factors such as (inter alia) lease terms, property market cycles, and property type, might determine the relationship between customer service and real estate performance. The paper concludes that further research is needed to isolate specific aspects of customer service that are most appreciated by customers. It suggests that the financial returns which accrue to landlords adopting a customer-focused approach might indeed be quantified, and suggests an appropriate method for such future research.

The motivation for this research was to investigate whether both parties benefit if landlords treat tenants as valued customers. Are satisfied occupiers more likely to renew their lease and recommend the landlord to others? Does this, in turn, improve the financial performance of commercial properties? This research analyses data from 4500 interviews with occupiers of UK commercial property to determine which factors affect occupiers’ satisfaction with the property management service they receive. Various statistical techniques are employed, including Structural Equation Modelling, Ordinary Least Squares Regression and Logistic Regression. Results are presented for four sectors of commercial property – retailers in Shopping Centres, managers of retail warehouses on Retail Parks, occupiers of Office buildings, and occupiers of light industrial units on Industrial Estates.\ud Although the precise determinants of occupiers’ overall satisfaction are found to differ between the sectors, the most important factor for all occupiers is satisfaction with property management. The key determinant of lease renewal intentions is the perception of receiving value-for-money for rent, whilst ‘Empathy’ and ‘Assurance’ are particularly relevant to occupiers’ willingness to recommend their landlord. Perception of receiving value for money is largely influenced by the reliability of the property management service. Following this part of the research, occupier satisfaction ratings and property returns are analysed for 273 properties over an 11-year period, to explore the relationship for the different sectors of commercial property. Positive correlations are found between the satisfaction of occupiers at a property and the risk-adjusted financial returns at that property, measured by reference to IPD benchmarks. The relationship is found to be particularly strong for the retail sector. It also appears stronger during the Global Financial Crisis, indicating that attention to satisfying the needs of occupiers might reduce void periods and maintain rental income when property supply exceeds demand.