REMIT 20 - Strengthening partnerships and streamlining operations for Argent at the King's Cross Estate in London.
WHAT: Assisting in the procurement of services ranging from property management, legal services, and software implementation.
WHY: Ensuring efficient management of the King’s Cross Estate, reinforcing its reputation as a top London destination.
WHEN: 2021- present day
The King’s Cross Estate is well known for how it has transformed, over the last 20 years, into one of London’s most desirable places to live, work and play. Over the two decades, developer and asset manager, Argent has gained industry renown for its ability to create unique environments that continue to attract thousands of people on a daily basis.
At the heart of Argent’s business is the value it places on its partnerships with suppliers. Only with a strong team, united with a shared vision, has it been able to foster the unique environment of King’s Cross.
In recent years, the Estate has moved through a critical period of transition from development to management, bringing new challenges and an increased need for strong partnerships. The move from Argent to Related Argent has opened the doors for more opportunities for the business, while simultaneously the estate has maintained its unique personality, supported by the strong network of partnerships.
Remit Consulting is delighted to have been able to assist Argent in creating these partnerships by bringing in specific property expertise to the procurement of services ranging from property management to legal services and including new software. Our approach alongside Argent has kept customers, ESG and innovation as key drivers throughout, viewing procurement as an opportunity rather than a burden.
““At Argent, we look for people who work well with us, hand in glove, where there’s a spirit of partnership and cooperation. That’s the ethos of our partnership with Remit.””
Services
Property management
When business is busy, procurement can easily become an onerous due diligence activity to tick a box for board approval; King’s Cross is different.
Across three procurement activities for property management: commercial portfolio, luxury residential building Gasholders, and two residential buildings under construction, which included social and affordable housing, there were common objectives that helped Argent find and develop strong partnerships with its managing agents.
Finding a strategic partner that will use innovative thinking to promote and further the vision of King’s Cross
Support improved customer experience, keeping the customer at the core of decision-making
Strive for industry-leading ESG credentials, achieved through improved reporting, operational efficiency and dynamic responses to change
Using these objectives, Remit Consulting has helped Argent to select partners that will benefit the estate’s value and support its reputation as one of London’s most desirable destinations.
““How grateful we are for your help on the project and how you made it all so much easier… I want to thank you, Laura and the rest of the team for all of your help and expertise on this.”
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Legal services framework
Strong legal partnerships are essential for a dynamic estate such as King’s Cross. Although Argent was satisfied with its providers, it was seeking to increase opportunity for value by rationalising the number of legal providers. Argent wished to consolidate its asset management work into a single contract with one legal firm.
Remit Consulting’s understanding of King’s Cross’ values for partnerships resulted in it being asked to assist in the procurement of legal services in 2022.
The project set a precedent for legal tenders at Argent, achieving:
Agreed, documented service standards, easing contracting and performance reporting
Aligned views on the vision and team responsibilities, helping various partnerships to work together with ease
““Whatever happened, the Remit team took it in their stride. They always had the resources to deal with whatever was thrown at them.” ”
Enterprise System selection and implementation
Underpinning the strength of partnerships is a shared vision of, and the ability to have, a single source of truth in data. Argent was not getting this due to an outdated, overly configured system used inconsistently by Argent’s teams. To achieve a future state of consistent system use and trust in the data, Remit carried out the following:
Aligning processes within asset managers and managing agents, so all teams work together smoothly
Identifying detailed system requirements, to support the estate’s vision and ethos
Testing the market against the requirements, before selecting and implementing the latest MRI Horizon system
Argent and its managing agents were spending hours manually manipulating information that the system should have been able to generate automatically. By freeing up their capacity, they can now focus on the management of the Estate itself, progressing the vision and continually improving the customer experience.
““We have been working with Remit for two years and in that time, they have structured our requirements and processes, increased stakeholder engagement that is so vital to making projects work and brought in invaluable expertise to support technical and reporting workstreams…Their efficiency and industry knowledge will stand us in good stead to not just implement and maintain an upgraded Property Management System but to also expand its reach and impact across the business.””
Working with Argent has been an enjoyable experience for Remit Consulting, and it has been so exciting to see how the estate has transitioned into its final stage of development, where it continues to exceed expectations through its various place-making initiatives and impressive tenant list.