THE NATIONAL TOMS REAL ESTATE PLUG-IN 2019
In Great Britain, the total spend across the construction sector during 2017 was almost £110bn on new developments, with approximately £25bn being spent by the public sector. Good practice shows that it is possible to generate an additional +20% of value for communities through how the sector manages and delivers its solutions. When considering public sector spending alone this could potentially lead to additional community benefits worth over £5bn per year, and if the private sector also adopts the principles of social value in its own practices there could be an additional £17bn of value created.
Real Estate is different from many other contracts or procurements carried out by the public sector in that the construction of the building is just the start of its potential contribution to society. The development (or asset) will continue to deliver value throughout its lifetime in how the property is managed and how its occupants reach out to the local community to employ local people, provide community support and protect the environment.
In response, the Real Estate Plug-In has been developed with contributions from organisations representing the full cycle of a development and to reflect the opportunity that exists at every stage of a development from design and planning, through its construction and finally in how the building is managed and occupied.
The development of the Real Estate Plug-In has been led by the Social Value Portal on behalf of the
National Social Value Task Force and has been supported by a number of other leading organisations
within the industry, including:
- Aberdeen Standard Investments
- Birmingham City Council
- Legal and General Real Assets
- Prologis UK
- Supply Chain Future
- VolkerWessels UK
- West Midlands Combined Authority
- Arcadis Group
- Buckingham Group
- Manchester City Council
- Scape Procure
- Telford Homes
- Wates Group
- Bridges Fund Management
- Morgan Sindall
- Surrey County Council
- UK Green Building Council
- Willmott Dixon
National TOMs Sector Specific Plug-Ins
The Real Estate Plug is one of a series of sector specific updates that extend the National TOMs adding in additional measures and detail to reflect the specific opportunities of the sector in question, such as the Health Sector.
To be kept up to date in the development of these Plug-Ins, or if you would like to contribute, please contact firstname.lastname@example.org.