Corporate real estate management in the retail sector: a study of the relationship between the management of the corporate real estate and corporate performance
Gibson, V. and Barkham, R., (1999) Corporate real estate management in the retail sector: a study of the relationship between the management of the corporate real estate and corporate performance. Working Papers in Land Management & Development. 02/99. Working Paper. University of Reading, Reading. pp18.
Retail organisations have often been cited as being at the forefront of corporate real estate management. This research found that the retail sector can be characterised by diversity both in terms of the degree to which organisations are vertically integrated and in terms of the range of modes of retailing they engage in. This in turn led to highly diverse real estate portfolios. Given this diversity it may be surprising that the over riding strategy which the vast majority of sample firms adopted was focused on supporting the core retail activity. However the way in which they implement this strategy, again reflected the diversity in the sector. In terms of the future, the senior real estate managers were focusing on the medium term particularly looking at the way change would impact their functional strategy. This study provides a snap-shot of current practice and contributes to the debate however it also recognised that there is a need to answer the more fundamental questions.