Cabinet launches assets agency
by Huub Nieuwstadt Tue 17th April 2018, 11:30 am
An executive agency of the government's Cabinet Office to improve the efficiency of public assets and generate benefits was launched on 1 April.
The Government Property Agency (GPA) is set to raise between £1.4 and £2.4 billion in savings over the next 10 years.
The agency will have an initial portfolio of 80 properties, but this can grow to over 1,000 as it gains more responsibilities.
The GPA will also partner with various government departments to work with them to find innovative property solutions and provide expertise to enable a more efficient delivery of business change.
Liz Peace, chair of the Old Oak and Park Royal Development Corporation, and chair of the agency, said: "This is an exciting time for government property and demonstrates the focus on improving the commercial capability in estates management. The GPA team will bring the concept of a cross-government corporate real estate organisation into reality.
"As well as the significant benefits to the exchequer that will come from the GPA, its impact on departmental transformation and quality of workspace will be key to delivering a truly modern and excellent civil service."