Asset Management enables us to think outside of the box and produce win : win solutions for our property owners and occupiers.
Our daily touchpoints with occupiers give us constant feedback on potential opportunities for the property owner and occupier.
This includes ending leases early or extending them, opportunities for relocation, or for landlord or occupier works where a longer term strategy can be realised. We regularly consider the removal of break options, payment plans, the return of rent deposits and changes to the income profile of existing leases.
How we can help
- Identifying opportunities to add value
- Securing income streams
- Closely liaising on re-letting, refurbishment works and planning potential
Our Asset Management Services
We add considerable value for our property clients by re-engineering existing leases.
This may be as straightforward as removing a break option in return for a rent-free period or lengthening the term certain of an existing lease. Where more complicated scenarios present themselves, we ensure close communication with the occupier and property owner to bring about the best practical lease re-gearing scenario. Sometimes it makes sense for both sides to agree an early surrender whilst also agreeing a new lease with an alternative occupier.
We are all about creating ‘win:win’ scenarios for both parties normally from having progressed a similar transaction elsewhere. Successful lease re-gearing ultimately saves everyone money and brings about positive change.
We review at all lease renewals 18 months prior to their expiry and our knowledgeable team determines the best possible strategy for the property owner.
Typically, a review of the market is required to understand rental values and comparable lease lengths. Once complete, we work collaboratively with the owner and occupier with an emphasis on productive and effective communication. Communication cannot be underestimated.
Our early communication increases the certainty of strategy which in turn creates best possible outcomes.
Most longer lease terms contain the provision for the rent to be reviewed. They also detail the mechanism for the review, which is typically either market or price index review.
We review our strategy for rent reviews up to 12 months prior to the effective date providing clients with clear communication to ensure their expectations are set. Depending on market conditions, the rent review will be initiated by way of a rent proposal and subsequently negotiated – or otherwise, agreed at nil increase. If the rent review is to settled by way of comparable evidence we ensure a full review of the market.
This makes it clear what the market rent should be until the rent review or lease expiry.
We are proud to have built up a longstanding and trusted relationship with many property owners enabling them to achieve the best commercial position for their property and portfolio.
An understanding of their portfolio strategy is critical for us to help them achieve their short and longer terms objectives, and our team achieves this through a culture of collaboration, understanding and empathy. We meet-up with our property owner clients whenever possible as we are always seeking to understand their best way of working and their desired strategies and outcomes for their properties.
The sharing of information ensures that the team required to effectively manage our client’s properties, from letting agents, building surveyors and valuers and rating surveyors (as required) can work towards a common goal.
