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Matthew Punshon

Matthew is Chief Operating Officer and a co-founder of The Asset Factor.

Matthew qualified as a Chartered Surveyor having been through the graduate training programme in Richard Ellis. More recently he completed the Advanced Management Programme at Harvard Business School.

Initially specialising in professional work with Richard Ellis, Matthew’s primary skill was recognised as a business manager and he was seconded to The London First Centre (now Think London) as one of the founding team to start-up the new inward investment agency for London.
Matthew then joined the Corporate Real Estate team specialising in the public sector and the newly formed Private Finance Initiative projects. He was part of the property advisory team to the Department of Transport with respect to the flotation of Railtrack and the privatisation of British Rail before being seconded to Richard Ellis International to lead a project to measure and value all the Far Eastern embassies and consulates for the Foreign & Commonwealth Office.

Back in the UK, Matthew was then seconded to Goldman Sachs where he co-ordinated the consortium of companies that successfully bid for the DSS / DWP PRIME contract which outsourced the ownership, asset and facilities management of the 16 m sq ft, 800 property portfolio.

As the founding employee of Trillium, Matthew was responsible for the mobilisation of the contract and establishing a start-up business that grew from 3 to 400 people in 6 months and 600 people in 12 months.

The process reduced the number of service contractors from many thousand who were directly contracted to the DSS to a core team of 8 service contractors through a process of contract novation and termination. Over 10,000 staff were transferred under TUPE, of which about 200 facilities management staff were transferred directly into Trillium. The National Audit Office recognised a saving of over £25m per annum, the majority of which was driven from the facilities management cost (total spend being approximately £80m).

As Operations Director for Trillium, Matthew was responsible for the efficient management and running of the facilities management arm of the business which included direct management of the innovative Trillium Customer Service Centre which took an average 35,000 calls per month, issuing 32,000 work orders to 8 contractors countrywide.

Two years after start-up, Matthew lead a process project which, through process re-engineering, drove a further £2.5m per annum of cost out of the management of the business, improving profit margins by over 15%, whilst also achieving increased customer satisfaction. In parallel, Matthew was also one of the lead negotiators for the £2.1bn purchase of BT’s 66,000 sq ft property portfolio and was a member of the Telereal operational board.

On acquisition of Trillium by Land Securities, Matthew led the first cross business unit project reporting directly to the Chief Executive, Francis Salway. Taking some of the principles learned within Trillium and applying them to the traditionally managed property market, Matthew created Landflex to directly respond to the increasing demand from tenants and government to create a property product that supported British business.

Through Landflex, Matthew achieved the largest letting in 2004 with the 460,000 sq ft lease to the Metropolitan Police following the £110m refurbishment of the Empress State building in Earls Court. An innovative lease structuring mechanism created over £35m increase in asset value. This was achieved through the management of the fit-out programme, provision of services and taking on the risks of Life Cycle Replacement. With this deal, Matthew generated an additional net cash profit of over £2m in the first year with a guaranteed minimum of £650,000 p.a. over the contract term – all based on a portfolio of only 550,000 sq ft. This equated to an increase cash return over rent of about 20% in the first year, with a minimum of about 8% every year thereafter. It was coupled with achieving the highest customer satisfaction results ever seen in Land Securities’ buildings, scoring 4.75 out of 5 as measured by Kingsley Lipsey Morgan.

Matthew is married with one daughter and lives in Cambridgeshire where, when there is time, he indulges in his enthusiasm for cabinet making and driving his 1960 Austin Healey 3000. His future challenge is to achieve a successful company and find time to make an oak dining room table! Matthew is also deputy chair of the Board of Trustees for the children’s autism education charity – TreeHouse.

Matthew Punshon BSc (Hons) Est Man, MRICS
matthew.punshon@theassetfactor.com   07802 182 770