A framework for the successful outsourcing of Australian corporate real estate

Outsourcing of corporate real estate has been growing significantly in Australia since the late 1990s. The main users of corporate real estate outsourcing services are large Australian companies, Federal and State governments and councils. The typical corporate real estate contract has a life of five years and deals with real estate assets of $200million in value for the smaller outsourcing arrangements and most often for corporations and governments real estate assets subject to an outsourcing contract over the $1billion mark in value. Despite the significant monetary value of corporate real estate outsourcing and the growing use of outsourcing to manage corporate real estate assets over the last decade, the academic literature and research in this field has been limited. The Australian academic literature in this field is virtually non existent. In particular, there has been little consideration and research as to what makes corporate real estate outsourcing successful. In discussion with industry practitioners, there was an industry need to research what makes corporate real estate outsourcing successful. Of particular interest to industry practitioners was the creation of a particular model or framework that could be used by practitioners of corporate real outsourcing to make decisions on how to implement an outsourcing contract. The research then has a key objective to develop an original outsourcing framework concerned with successful corporate real estate outsourcing that can be used by industry practitioners. This was the first research aim. The second research aim was to assess whether industry practitioners saw the framework as being useful for their day to day implementation of corporate real estate contracts