Glossary
LGPC - Local Government Property Consultants
Your consultancy; avoid confusion with LGPS by spelling LGPC in full on first mention.
LGPS - Local Government Pension Scheme
A public sector pension scheme; unrelated to LGPC. Use full term to prevent acronym collision.
LGR - Local Government Reorganisation
Process of restructuring councils into unitary authorities or similar, with asset/estate implications.
Devolution / Mayoral Strategic Authority
Shifting powers/funding to regions; estates should align with housing/transport growth plans.
Strategic Asset Review (SAR)
Evidence‑led assessment to categorise assets: retain, repurpose or dispose.
SAMP - Strategic Asset Management Plan
Service‑level plan showing how property supports delivery; often informed by an SAR.
Best Consideration (s123)
Duty to obtain best value on disposals; may include social value/overage where justified.
Overage / Clawback
Payment due to a seller if future events (e.g., planning uplift) increase value post‑sale.
Vendor Due Diligence (DD)
Title, planning and technical information prepared by the seller to de‑risk disposal.
Green Book
HM Treasury guidance for appraising proposals; align business cases (SOC/OBC/FBC) to it.
RICS Red Book
Standards governing valuation practice; required for robust, auditable valuations.
TA/EA - Temporary & Emergency Accommodation
Statutory duties requiring provision; estates strategy can reduce overspend via pipeline and meanwhile use.
MMC - Modern Methods of Construction
Prefabricated/modular build routes; useful for rapid TA/affordable housing.
CAT - Community Asset Transfer
Transfer/lease of council assets to community bodies under defined tests.
PSDS - Public Sector Decarbonisation Scheme
Funding route for energy upgrades; link here to your Net Zero page.
Vesting Day
Date a new authority assumes legal control of assets and liabilities.
PMO - Programme Management Office
Governance function ensuring pipeline, risk and benefits are managed.
Combined Authority (CA) / Combined County Authority (CCA)
Strategic regional governance structures; estates should align to their priorities.
Promotion Agreement / JV
Development partnering models councils may use to unlock housing/receipts.
Co‑location / Service Hub
Bringing services together in one building to improve access and reduce costs.