The growing recognition amongst local authorities of the potential of asset management to improve property management practice has led to its increased adoption. The growing trend has been supported by the development of asset management frameworks. However, evidence indicates that local authorities are failing to achieve the full benefits from their asset management implementation. The factors contributing to some of the property management problems such as reactive management, lack of leadership support, ineffective corporate landlord approach, remain. The available frameworks are incapable of mitigating the identified problems by failing to provide understanding of local authority differences. Therefore, this research aimed to develop an adaptable and flexible operational property asset management framework for local authorities in England and Scotland. The strategic management theory, review of existing literature findings and evaluation of available asset management frameworks especially the Total Asset Management Process model helped to identify, define and establish the causal logic of the asset management concepts underpinning the developed conceptual framework. Face to face semi-structured interviews followed by large scale questionnaire surveys were used to gather primary data. The key research findings are that the following are the key factors limiting asset management practice improvements in local authorities: ineffective leadership support, asset management capabilities and corporate landlord approach; inadequate asset management information systems and performance management arrangements. Principal components factor analysis was utilised to help establish underlying factors that account for flexible and adaptable asset management framework. The findings suggest that asset management processes associated with an adaptable and flexible asset management framework include a board level cross functional asset management structure; strong leadership support for both direct and indirect property;  an enabling environment; an effective corporate landlord approach;   an effective performance management arrangement;  and availability of an appropriate management information system.  The framework has been validated to be robust and can be utilised and flexibly adapted by different local authorities and provides the basis for improving the process and outcome of asset management practice