NHS Property Services’ annual report highlights £71m in cost savings and £152m in value opportunities

Published: 8-Jan-2025

NHS Property Services has published its annual report for 2023/24, which demonstrates a strengthening in the organisation’s refreshed strategy to deliver a better estate, and brilliant service for its customers

NHS Property Services (NHSPS) has published its annual report for 2023/24, which demonstrates a strengthening in the organisation’s refreshed strategy to deliver a better estate, and brilliant service for its customers.

Key achievements for the year include: 

  • Cost savings of £71m in 2023/4 compared to £45.9m in the previous year  
  • Delivering over £150m of value opportunities for the wider NHS by proactively engaging with Integrated Care Boards and enabling the refurbishment or building of health facilities such as the new Chiswick Health Centre.  
  • Healthy Places programme: progressing 250 projects with 70 completed on site   
  • Reduction in carbon footprint by 8.2% 
  • Launch of its refreshed strategy 

The annual report reveals NHSPS has taken huge strides forward in enabling better adaption, assessment, and maintenance of the 3,000 buildings, or 10% of the NHS estate it owns. 

It also enables the organisation to respond effectively to the Darzi Report and prepare plans to help deliver the 10-Year Health Plan expected in Spring 2025. 

NHSPS owns 3,000 buildings or 10% of the NHS estate

NHS Property Services also launched its new strategy which outlines its ambition of becoming the first-choice NHS estate service delivery organisation. 

There are three pillars of delivery: 

  • A  better estate: fit for the future

  • Brilliant service: placing customers at the heart of everything we do

  • Unlocking value: understanding customer priorities and delivering value for money.  

Cost efficiencies for the NHS have increased by 55% from the previous year - rising to £71m. 

Alongside these savings, the organisation has increased its investment in the wider NHS estate, refurbishing or building new health facilities such as the joint development with Hounslow Council to create 55 affordable new homes for local NHS colleagues.  

NHSPS launched its new strategy which outlines its ambition of becoming the first choice NHS estate service delivery organisation 

NHSPS’ Healthy Places programme continues to deliver new builds and refurbishments.

The projects included investing £762,000 in supporting the North West to realise a critical neonatal ambulance service

There are a further 180 new builds and refurbishments on track for delivery over the next few years. 

In addition, reducing vacant space remains a key initiative and in 2023-24 nhsps have reduced the total vacant space for the year by 42,000 sqm.

The organisation aimed to reduce carbon emissions by 5% and instead achieved an 8.2% reduction

The organisation aimed to reduce carbon emissions by 5% and instead achieved an 8.2% reduction.

Martin Steele, CEO at NHSPS, said: “We have made excellent progress this year and find ourselves in a much stronger place to deliver the property infrastructure needed to ‘Build an NHS Fit for the Future’. 

“And the launch of our thought leadership campaign last month focuses our organisation on how we can best help our customers to access the funding they need. Last year marked ten years of our organisation supporting NHS customers and their communities and in our eleventh year we have placed ourselves in a positive position to deliver great results in 2025.” 

Emma Dexter, Interim Chief Financial Officer at NHSPS, said: “Our vision of being the first-choice estate service delivery provider to the NHS and our mission of unlocking value for the NHS have been our continued focus this year. We have made significant progress in improving our capabilities, processes, and systems, to enable us to deliver more value to our customers and stakeholders and to support the wider NHS agenda of integration, transformation, and sustainability.” 

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