LondonMetric Property Plc, the London-based real estate investor in retailer-led distribution and out of town and convenience retail, is installing LandMark 4, the latest property management solution from Hexagon Software. With 12.1 million sq ft of assets under management and a total portfolio value exceeding £1.5 billion, this market-leading software solution will assist LondonMetric Property’s portfolio management and strategy of increasing income and improving capital values.
LandMark 4 is a web-based system with an easy view dashboard that automatically delivers the latest, real-time property information and can be customised for individual users. It gives an auditable, single point of reference showing the current status of the real estate portfolio at a glance with high level overviews of performance indicators such as investment yields, portfolio statistics including occupancy rates and average lease terms, as well as top tenant information and transaction summaries.
The new system automates the reporting process by centralising the management and storage of data relating to LondonMetric’s property portfolio. It eliminates the need for complex spreadsheets previously used and enables period end and other ongoing reports to be generated at the press of a button without having to manually gather data from different locations. Hexagon Software has also provided LondonMetric with a ‘snapshot’ routine that freezes datasets enabling staff to carry on working without interruption when reports are being produced.
The second phase of the deployment will see Hexagon Software rolling out even more complex reporting capabilities to allow additional areas of the business to be reported on such as ‘like for like’ income and provisional tenancies. It will also enable LondonMetric to model future projected revenues.
According to Andrew Smith, Strategy Director at LondonMetric Property: “Hexagon Software has provided us with a database and reporting solution that has already provided some quick wins. In the longer term it will assist us to manage our property portfolio based on future projected rents and valuations. It will also help ensure compliance with regulatory.