LGIM Real Assets (Legal & General) has announced the launch of a digital business-to-business platform, Vizta, to directly support its occupiers and accelerate its strategy to re-frame the role of the real estate owner.
Vizta by Legal & General is aimed at the people or teams responsible for managing leased property within occupier organisations. The platform gives access to real-time property and portfolio management, alongside the ability to work more closely with Legal & General, providing an offering beyond bricks and mortar.
Legal & General has long recognised the need for greater collaboration and alignment between owner and occupier, from SME’s to large multi-national businesses. The launch of Vizta represents a significant step forward in delivering on this strategy, removing barriers to engage directly with Legal & General, and providing a platform to share best practice and encourage collaboration across the office, retail, and industrial sectors. Vizta will be deployed to over 3,000 leases, incorporating over 4,000 users and covering more than 20m sq ft across the UK over the next 12 months.
Bolstering LGIM Real Assets journey to net zero, Vizta highlights the essential role that occupier engagement will play in the transition to a low carbon economy. Real estate owners and operators must build stronger relationships with their occupiers to educate and drive action; the way buildings are used plays a pivotal role in net zero, and therefore, greater collaboration is fundamental to effect change. Vizta will be key in facilitating this through offering direct access to asset management and property management teams providing on demand support and best practice, as well as delivering a one-stop-shop for all finance and sustainability data. The platform will open up Legal & General’s extensive partner network for occupiers to access support for their business, with services ranging from air quality measurement, cleaning or maintenance tasks, plus technical specialists to support energy efficiency initiatives.
Vizta is powered by Ility, a no-code platform, enabling Legal & General complete control over its technology, operations, and offer.
Mark Tyson, Head of Property Operations for LGIM Real Assets, said: “The launch of Vizta gives us the invaluable ability to fully support and better serve our occupiers. Working as a partner with our occupiers will prove to be critical in achieving our Net Zero Carbon commitments.
Occupier feedback from the first phase of the roll-out has been incredibly positive, with recognition that we are moving to be a ‘true property partner’. For the first time, occupiers can benefit from our wider asset management expertise, economies of scale and investment in technology to help them deliver their individual strategy.”
Bill Hughes, Head of LGIM Real Assets, commented: “Vizta is a game changer that will transform the way we engage with our occupiers. We recognise there is a need, across the real estate sector, to re-position and re-engage the relationship of owner and occupier. This launch represents a significant step forward for LGIM Real Assets in doing so, signalling our proactive approach to asset management. We are driving collaboration at scale, which is key in ensuring our portfolio is fit for the future.”
Vizta complements LGIM Real Assets’ Mercury Model, which has been established over the last two years, as well as its implementation of bespoke building level apps. These initiatives help to support building users’ day-to-day experiences through direct access to the on-site team, events, and local offers from retailers. LGIM Real Assets will be launching new building apps in November at Temple Point in Bristol, 245 Hammersmith Road and The Aircraft Factory both in Hammersmith, Apex in Reading and Goldsworth Place in Woking.