British Land to sell to Equiem its property management software platform, Vicinitee, and commits to engage Equiem across its office portfolio.
See coverage of this story in global press:
- British Land to sell proptech platform to Equiem - Property Week
- Equiem acquires British Land's property management arm as "Proptech" deals boom - Yahoo! Finance
- Equiem acquires British Land's Vicinitee tenant portal - Australian Financial Review
- Equiem acquires British Land's property management arm as 'PropTech' deals boom - Reuters
British Land sells Australian proptech pioneer, Equiem, its property management software platform, Vicinitee, and commits to engage Equiem across its office portfolio
- Melbourne-founded global tenant-experience pioneer, Equiem, acquires technology enabling both tenant and property operations solutions on one platform
- Vicinitee software solutions are currently deployed across more than 150 properties in the UK, including internationally renowned trophy assets: Broadgate, Kings Cross, The Shard, The Gherkin and The Scalpel, and used by major landlords and managers: Blackstone, Argent, British Land, Knight Frank and Savills
- Acquisition comes as the industry is accelerating out of the pandemic and landlords are clamoring for tools to assist with the 'return to work'. It extends Equiem's offering into a comprehensive workplace management platform encompassing solutions for tenant experience, property operations, visitor management / access and flexible space management
- The acquisition triples Equiem's UK operations and comes at a time, pre-acquisition, when growth has been accelerating at a 90%+ rate
Melbourne (April 27 2021) Equiem, Australia's most widely used tenant experience platform, serving leading owners including Dexus, Lendlease, Salta Properties, ISPT, and Abacus Property Group, has acquired Vicinitee - British Land's digital property management platform, used across more than 150 buildings throughout the UK, including Broadgate, The Shard and The Gherkin.
This acquisition for Equiem, the world's first tenant experience platform first launched at Rialto, Melbourne by Gabrielle McMillan and Australian real estate developer and owner Lorenz Grollo in 2011, will see Vicinitee's additional property management functionality integrated into Equiem's platform and available to its Australian clientele.
This transaction paves the way for the industry's first workplace experience platform, encompassing solutions for managing tenant relationships, flex space and property operations in one system. Specifically, Vicinite's work order and contractor, visitor and space management technology will be integrated into Equiem's market-leading tenant engagement, vendor management & analytics platform. Gabrielle McMillan, CEO of Equiem, commented: 'There are two things that have become even more critical for landlords as a result of the pandemic - strengthening tenant relationships, and driving operational efficiencies. This acquisition allows Equiem to meet both of those needs, in one platform, and significantly expands our scale and addressable market. The acquisition of Vicinitee triples our UK business and increases Equiem's global footprint to circa 500 buildings and over 100 million square feet of commercial real estate'.
Sally Jones, Head of Strategy, Digital, and Technology at British Land, commented: "We're proud of the exceptional service and value Vicinitee has delivered to property owners over the past decade. The role of data and technology in creating great places for our customers and their people is now more important than ever. Our partnership with Equiem is a natural step forward to offering the highest levels of service and experience to everyone across the property management chain. This acquisition creates an unmatched value proposition that we believe clearly defines Equiem as a market leader and preferred partner of landlords globally.
McMillan added: "This partnership with British Land allows us to expand and refine our offering across a world-class portfolio alongside forward-thinking real estate leaders. British Land is committed to partnering with their occupiers to provide a differentiated workplace experience for employees, and we're excited to shape our technology around this ethos and commitment.
Equiem and British Land's growing partnership
The partnership originated after British Land engaged Equiem to roll out its tenant experience platform across its 28m sq ft portfolio. The rollout began with Broadgate, a 32-acre campus, which includes the new 100 Liverpool Street building, considered one of the most tech-forward innovative office spaces in the UK, and, later this spring will continue with a launch at Paddington Central, British Land's 11-acre mixed use campus which sits beside the Grand Union Canal and Paddington station.
Jones added: 'The ability to deliver property operations and tenant experience solutions through an integrated platform significantly enhances customer experience by bringing multiple functions together into a single interface, simplifies the work flows for property managers and connects the data necessary to provide a 360 degree view of the customer relationship. Data-driven decision making is the future of real estate.'
Equiem - the Tenant Experience pioneer
Founded in Australia in 2011, Equiem developed the world's first digital tenant experience platform, and forever changed the way landlords communicate and interact with occupiers. In the ensuing decade the enterprise grade, proprietary platform has grown its user base to 175,000 individuals across 9,000 companies, including Facebook, Accenture, LinkedIn, Atlassian, PwC, EY, Citi Bank, Nike & Adidas, located on three continents.
As the dominant tenant experience platform in Asia Pacific, US, UK and Ireland, Equiem's technology stack includes mobile and desktop apps, communications and event management, an e-commerce marketplace, leasing dashboards and flexible space management.
The platform also provides property owners with portfolio-wide data and insights to help them develop stronger relationships with tenants; increase satisfaction, loyalty and retention; and make smarter capital improvement decisions.
More recently, Equiem has helped landlords weather the challenge of COVID-19 with its Remote and Return to Work initiatives: Two distinct solutions designed to maintain tenant-landlord relationships during and after lockdown. In 2021 and beyond, Equiem will arm the commercial real estate industry with the tools and insights it needs to address the changing needs and demands of the modern workplace.
Vicinitee — the dominant building operations platform in the UK
Vicinitee is a web-based platform that streamlines property management operations and facilitates communications between property owners, occupiers and contractors. It is currently utilised across 157 properties, including trophy assets The Shard, The Gherkin, The Scalpel, Kings Cross and Broadgate. The platform is also used by many of the UK's largest managing agents, including Knight Frank, Savills and Workman, among others. Vicinitee's clients include such prominent owners as Blackstone, The Crown Estate, Derwent, Tishman, Argent, Axa, Safra and Hammerson.
McMillan said, 'Property operations is complex. This is not software that you can build quickly. We knew we wanted to expand our offering to meet these needs and acquiring Vicinitee (rather than building a suite of building operations software from scratch) gives us a significant advantage, with Vicinitee's 20 years of history solving problems for property managers across hundreds of buildings.'
Equiem: David Stoch of Meerkat PR, firstname.lastname@example.org, 44 (0)789134455
About British Land
Our portfolio of high quality UK commercial property is focused on London Offices and Retail around the UK. We own or manage a portfolio valued at ¬£13.7bn (British Land share: ¬£10.3bn) as at 30 September 2020 making us one of Europe's largest listed real estate investment companies.
Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles - Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.
Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 65% of our portfolio. Our Retail portfolio is focused on retail parks and shopping centres, and accounts for 31% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 53 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.
Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing.
Further details can be found on the British Land website at www.britishland.com