The survey, undertaken by the Charity Finance Directors Group and property consultants Donaldsons, found that only a quarter of the seventy-odd charities questioned had organised a review of their property holdings, and nearly half only made strategic decisions over property when circumstances required.

This lack of pro-activity, said Andrew Morgan, a partner at Donaldsons, may be costing charities savings that could be put towards care services, for example. He believes that the savings could be substantial, as property costs are the second largest drain on funds after wages. “This research shows that a significant number of UK charities are in danger of mismanaging their resources and may be missing out on cost savings available from adopting a more strategic approach to property assets and liabilities.”