“Covent Garden is a unique and complex estate and Incentive FM, as a dedicated FM operator, have the skills and systems necessary to deliver the high levels of service we require.” Andrew Hicks- Property Director for Covent Garden London
Covent Garden is a historic area in London which is largely owned by Capital & Counties Properties whose goal in the area is to create value and grow through asset management, strategic investment and development. The area comprises retail units, restaurants, a market area, office spaces and residential properties. The area owned by CAPCO in Covent Garden is valued at £2.3bil. They commenced development of Kings Court in 2014 to establish a new route to link Floral Street and King Street for the first time as well as creating 45 new residential properties, 8 new retail units and 2 new restaurants.
The multi-million pound contract commenced in 2009 and at the time was the largest contract win for IFM, a title now belonging to Bluewater Shopping Centre. The scope of the contract was to provide total facilities management services to the market area of Covent Garden. The requirements were-
- Manage the complex setup of multiple budget streams
- Provide outstanding levels of customer and guest service
- Effectively maintain the high value asset that is the Covent Garden estate
- Improve the standard of management information
We operate a 360 degree performance monitoring system to ensure that we are continuously delivering and exceeding our client’s expectation on site. It looks in depth at all of the different service requirements on site and our performance score is consistently high.
In accordance with the requirement for providing outstanding levels of customer and guest service IFM introduced guest service booklets, a service challenge check as well as bespoke customer service training to the team alongside World Host training for everyone. The levels of service delivered feed back into the 360 degree performance measurement system.
Our CAFM system, Concept Evolution, allows us to effectively maintain the asset to the required standard and response times from the maintenance module of Concept provides a marker of performance monitoring within the 360 system. It also gives senior personnel at CAPCO access to information about asset planning, management, financial information and service assessments. It provides the basis necessary tools to manage the multiple budget streams for the different services delivered on site and directly contributes to the excellent level of detail provided in our management information given to the client.
Like the majority of our clients Covent Garden operates a Risk and Reward Open Book commercial model. The Risk & Reward element can be setup in a couple of different ways but at Covent Garden it is based on a Share Scheme. The number of allotted shares is role dependent and each share has a value attached to it which corresponds to our performance on site. All staff have visibility of the share value and see exactly how they are going to be rewarded for delivering outstanding service on site. This reward basis drives service excellence for the client at Covent Garden.
Since running the contract the services we deliver to CAPCO have expanded to include the wider Covent Garden estate, residential properties and CAPCO’s head office. This is the perfect marker of our success on site as well as the fact that we always receive a reward payment under the risk & reward scheme and have never been penalised and had to pay back some of our fee.