Strategic Review
Client: Rentokil Initial plc
Project: Strategic Review
Commercial Imperative:
The in-house team was struggling to respond to new challenges. CPA was therefore appointed to undertake a strategic review of the property portfolio and to identify what actions would have a material impact on profitability across the global estate.
CPA Role:
An overarching Property Plan was agreed and executed in 3 main phases: De-clutter (to minimise cash drain and generate cash for reinvestment), Transition (to bring operational stepped change including smart policies and consistent processes) and Alignment (to deliver further compression and modernisation of the property footprint.)
The Result:
Results have been outstanding. For example the UK estate has dropped by 125 sites with annualised savings of £12m whilst generating £60m capital receipts. "Alignment" continues to evolve as an aggressive cost reduction programme drives more consolidation and the introduction of a new "property lite" operational model.
*Winner of Corporate Real Estate Awards 2007 - voted by the FTSE's leading companies
