News

CoreNet threatened by UK rival

News

Robert Gibson, Lucy Barnard

28 August 2004

Disaffected corporate real estate occupiers and advisers seek members for September launch

A rival organisation for UK corporate occupiers and their advisers is to be set up next month, following increasing frustration with Atlanta-based CoreNet Global.

The Federation of Corporate Real Estate Executives is the brainchild of half a dozen corporate real estate advisers who have become disillusioned at the US focus of CoreNet.

The founding members include Chris Tabor, head of corporate real estate at ING Real Estate Investment Management; Nigel Doherty, founding partner of Doherty Baines; and Alexander Anton, chairman of real estate management and consultancy firm FraserCRE.

Doherty said: “We are at an embryonic stage and are inviting corporate occupiers and their advisers to discuss with us how it could develop. Too many of CoreNet’s larger conferences are held in the US and it is dominated by US thinking. The UK has more than enough expertise to lead corporate thinking and strategy.”

Michael Dow, president and chief executive of New York-based corporate real estate adviser Cresa Partners, said the problem stemmed from the merger of IDRC and Nacore to create CoreNet. In the US, IDRC was the dominant organisation, while Nacore was more dominant in Europe.

“A lot of the Europeans I talked to at the time of the merger were very unhappy about the way they found that CoreNet seemed to take the IDRC and not the Nacore way of doing things.”

Bob Foster, corporate real estate director at ATIS REAL Weatheralls, said: “The feeling is that we get lots of newsletters in which only 10% has anything to do with Europe. But an advantage of CoreNet is of funding research. If there were a smaller organisation you would get lots more networking, but not the vital research.”

Robin Priest, former deputy chairman of outsourcing specialist Mapeley, said: “It is good to see an initiative that is focused on the UK market and which involves some of the most innovative thinkers in the business. The best ideas tend to come from those who are confronted with occupier issues every day.”

Tim Caiger, vice-president president of the 500-strong Corenet Global UK said: “This is very much a localised group in the UK, who are more involved in facilities management than corporate real estate. CoreNet is not worried.”

Hospital lobby launched

Another lobby group that is seeking to speed up the development of new healthcare facilities is also being launched in September. A group of funders, investors, developers, surveyors and solicitors have established the Primary Care Premises Forum.

The forum, which has already involved the Valuations Office Agency and NHS Estates in its initial discussions, wants to widen membership. It is holding its inaugural meeting on 22 September at the RICS in London.

Disaffected corporate real estate occupiers and advisers seek members for September launch A rival organisation for UK corporate occupiers and their advisers is to be set up next month, following increasing frustration with Atlanta-based CoreNet Global. The Federation of Corporate Real Estate Executives is the brainchild of half a dozen corporate real estate advisers who have become disillusioned at the US focus of CoreNet. The founding members include Chris Tabor, head of corporate real estate at ING Real Estate Investment Management; Nigel Doherty, founding partner of Doherty Baines; and Alexander Anton, chairman of real estate management and consultancy firm FraserCRE. Doherty said: “We are at an embryonic stage and are inviting corporate occupiers and their advisers to discuss with us how it could develop. Too many of CoreNet’s larger conferences are held in the US and it is dominated by US thinking. The UK has more than enough expertise to lead corporate thinking and strategy.” Michael Dow, president and chief executive of New York-based corporate real estate adviser Cresa Partners, said the problem stemmed from the merger of IDRC and Nacore to create CoreNet. In the US, IDRC was the dominant organisation, while Nacore was more dominant in Europe. “A lot of the Europeans I talked to at the time of the merger were very unhappy about the way they found that CoreNet seemed to take the IDRC and not the Nacore way of doing things.” Bob Foster, corporate real estate director at ATIS REAL Weatheralls, said: “The feeling is that we get lots of newsletters in which only 10% has anything to do with Europe. But an advantage of CoreNet is of funding research. If there were a smaller organisation you would get lots more networking, but not the vital research.” Robin Priest, former deputy chairman of outsourcing specialist Mapeley, said: “It is good to see an initiative that is focused on the UK market and which involves some of the most innovative thinkers in the business. The best ideas tend to come from those who are confronted with occupier issues every day.” Tim Caiger, vice-president president of the 500-strong Corenet Global UK said: “This is very much a localised group in the UK, who are more involved in facilities management than corporate real estate. CoreNet is not worried.” Hospital lobby launched Another lobby group that is seeking to speed up the development of new healthcare facilities is also being launched in September. A group of funders, investors, developers, surveyors and solicitors have established the Primary Care Premises Forum. The forum, which has already involved the Valuations Office Agency and NHS Estates in its initial discussions, wants to widen membership. It is holding its inaugural meeting on 22 September at the RICS in London.