David Alcock

David Alcock, Broll Property Group.Congratulations on your article on property valuations (Property September 26).Many, if not most, people in the industry have known about this problem for a while.

Broll valuations director David Alcock says private buyers have been outbidding listed funds lately.

Broll national broking director Dave Alcock says the corporate tenant's choice is simple: "If you want to control your costs, negotiate the longest lease on the biggest space at the lowest rent you can - or buy your own premises."

But Alcock says businesses must also understand the importance of space planning and space efficiency if they are to contain their property costs.And there are international standards and procedures they should learn.

"It is usually the financial director who has to deal with finding new premises," he says."He or she phones a few agents to get an idea of rents and escalations, then goes about finding the best choice."

Alcock says most financial directors believe this is a free service, but it's not.

And higher-than-necessary rents are not the only danger.For years, international corporations appointed independent chartered surveying firms or other property service companies to act for them around the world.The service companies get to know what their clients need and find them the most cost-effective and productive space, says Alcock.Corporates pay for that service, but it usually comes to a half to three-quarters of the commission the broker would earn from the landlord, so there is an immediate saving.

"The service companies and their brokers are the experts," says Alcock.
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Dave Alcock - Tenant's choice is simple