Some best practices for integrating software into the management of mixed-use real estate properties is the use of integrated software to manage energy savings and the use of analytics platforms (analytics software) to maintain and improve the building asset performance of a real estate.
1. Use of Integrated Software Solutions to Manage Energy Savings
- The best practice for integrating software into the management of mixed-use real estate properties is the use of integrated software solutions to manage energy savings.
- One of the companies most likely depending on integrated software solutions for the innovative management of mixed-use real estate properties to gain energy savings is Liverpool One. Liverpool One depends on the third-party solutions and services of Broadgate Estates to successfully regenerate and innovatively manage its mixed-use real estate offerings. Broadgate Estates, on the other hand, leverages the expertise of Axon and its platform (software solution) to manage the energy requirement for its client’s estates (including those of Liverpool One) and saves nearly 2 million kWh of power every year.
- Liverpool One is one of Europe’s most significant and elegant city regeneration schemes. The site covered by Liverpool One estate is 42 acres and comprises of luxury facilities like cinemas, hotels, and a five-acre park. It also contains offices, car parks, and warehouses. The estate is one of the United Kingdom’s largest regional shopping centers and offers over 1.6 million square ft of retail space.
- Liverpool One’s estate (scheme) also comprises of over 600 apartments, and is a mix of social housing, privately owned residences, and serviced apartments.
Why It Is the Best Practice
- One of the most successful mixed-use real estate known as Liverpool One is implementing the practice as discussed above. Liverpool One leverages integrated software solutions provided by Axon via its partner (Broadgate).
- The practice of using integrated software solutions saves energy and is increasingly becoming popular among real estate firms. They are utilizing these software-based solutions to model and estimate the energy consumption of their building before construction. This model gives several benefits to contractors, architects, as well as building owners who can optimize a building’s energy requirement before its construction begins.
2. Use of Integrated Analytics Platforms (Analytics Software)
- The best practice for integrating software into the management of mixed-use real estate properties is the use of integrated analytics platforms or analytics software. This process helps in managing and improving the building asset performance of a real estate
- Liverpool One is an example of a successful luxury or high-end property operator leveraging this practice. Through analytics platforms, Broadgate manages real estate buildings and helps property owners (including Liverpool One) to make informed, long-term decisions.
- Broadgate uses a third-party software solution known as Axon to offer services developments and implement project cost estimates.
- The use of analytics software solutions like Axon provides strategic and tactical insights necessary to manage buildings and their operations. Analytic software allows operators to predict or preempt performance challenges that can degrade the operational efficiency of a building.
- Integrated analytics software like Axon also helps real estate specialist asset managers to continuously and successfully monitor as well as report asset performance metrics relevant to heating, ventilation as well as air conditioning (HVAC), and refrigeration.
Why It Is the Best Practice
- Integrated third-party analytics platforms or analytics software solutions like Axon have been used by Broadgate Estates to successfully manage the real estate properties of their clients, including Liverpool One, as discussed above.
- The use of analytics software in the management of mixed-use real estate properties offers several advantages. These advantages include an enhanced ability in the monitoring process of property performance and the ability to preempt performance challenges. These challenges can degrade the operational efficiency of a building if not watched.
3. Use of Outsourced Integrated Software Solutions or Platforms
- Another best practice for integrating software into the management of mixed-use real estate properties is the use of outsourced or third-party software solutions.
- A successful mixed-use real estate operator leveraging integrated software solutions via an outsource partner to manage luxury, or high-end properties is Liverpool One. Liverpool One leverages a “groundbreaking management partnership” with Broadgate for administration and provision of mixed-use real estate facilities. Broadgate also leverages the integrated third-party analytics software solutions of Axon to implement management solutions for real estate owners.
- Another real estate company leveraging third-party integrated software solutions to manage its properties is More London. More has installed and integrated a platform provided by Broadgate. This platform provides visibility to the energy usage of real estates.
- The study assumes that Broadgate may be using the same or similar technologies to manage the properties of all its partners. A search of Broadgate
Why It Is the Best Practice
- By leveraging third-party analytics software solutions (like Axon provided by Broadgate) to manage its mixed-use real estate properties, Liverpool One has regenerated its schemes with proven innovative property management solutions, as discussed above.
- This practice is implemented by Liverpool One, which is one of the largest city regeneration schemes in Europe. Liverpool One’s sites cover about 42 acres and include luxury or high-end properties like hotels, cinemas, and parks in Liverpool city center.
- Several facilities in Liverpool city center (including some facilities operated by Liverpool One in the city center) are luxury facilities. Luxury facilities often those facilities located at the center of large cities.
The research has examined some best practices for integrating software into the management of mixed-use real estate properties. This strategy reviewed scholarly and academic resources published by industry associations like the American Real Estate Society in collaboration with Clemson University, Harvard University, Cambridge, and World Bank. A limited number of resources published insights specific to best practices for integrating software into the management of mixed-use real estate properties. The American Real Estate Society and other investigated resources had several resources on best practices (based on outcomes) for mixed-use properties.
The study considers practices related to the integration of software into the management of mixed-use real estate properties that have produced some of the best or outstanding results as the best. Resources reviewed include websites of successful luxury or high-end properties such as Liverpool One. Other materials in the research are the resources of third-parties offering integrated software solutions for the management of mixed-use real estate properties. The study includes only practices identified as best and implemented by any of the numerous successful luxury or high-end properties such as Liverpool One, More London, and Westfield. The study includes only practices that present many advantages to building owners, managers, or consumers as best.