Property industry trade association giant to launch on 1st January
After months of discussions and member votes, three key commercial property bodies including the BPF are to become one and be named RE:UK.
A new and unified trade organisation for commercial property has been created following almost unanimous agreement among members of three existing bodies to merge into one, to be called Real Estate: UK (RE:UK).
These are the British Property Federation (BPF), the Association of Real Estate Funds (AREF) and the Investment Property Forum (IPF) and the merger follows an initial announcement in November last year.
The Negotiator understands that following a transition period lastly a year, all three organisations will cease to exist and become RE:UK.
In the case of BPF, which has many estate agencies and property industry bodies as members including Savills, Knight Frank and Safeagent, this will end a history going back to October 1963 when it was created by a merger between the Association of Land and Property Owners and the National Federation of Property Owners.
RE:UK will serve as a unified ‘convenor and voice’ for the real estate sector, comprising institutional and private investors, property companies, developers, asset owners, managers and advisers.
Other organisations
Several organisations that fall into these categories operating within the commercial residential sector are not joining the party including The Property Institute, which represents property managers, and The Association for Rental Living, which represents BTL operators.
RE:UK’s activities will be based around six key pillars. These are advocacy; research and data; thought leadership and innovation; networking and events; upskilling and training; and standards and guidance.
The new organisation is to launch officially on January 1st, partially to give the existing bodies to merge and also find a single chairperson.
BPF current chairperson and British Land CEO Simon Carter, says: “I am delighted that BPF members have expressed their overwhelming support for the creation of RE:UK.
“I look forward to working with AREF and IPF over the next few months to turn our shared vision for a new powerful body for the sector into reality.”
The other two chairs are Anne Breen at AREF and Clare Thomas at the IPF. It is unclear at the moment what will happen to the staff and C-suite leadership of each organisation prior to the fulkl launch of RE:UK and subsequent transition period.
