Estate Management

Client

Tregenza Properties Merseyside LLP, a regional property company with a strong track record in delivering value from its investment strategy

Brief

Our client sought to introduce an improved management regime on an industrial estate comprising 12 units and 50,000 square feet, with annual non-recoverable expenditure of circa £15,000 per annum.

The estate was a high risk – financially it was under performing and risk management and Health & Safety standards were poor. The asset was a liability with no real management structure in place. Our goal was improve the asset by making it less of a burden and ready for sale at the appropriate time.

Result

  • Successfully introduced a service charge provision, with 100% recoverability. This, along with our management approach allowed us to benchmark the operating costs for the estate. It:
    • Acted as an effective tool for tenant engagement
    • Was a catalyst for improvements to the property
    • Enabled our client to produce accurate forecasts
  • Improved income profile by 20%
  • Introduced a sinking fund to assist with future works and protect value
  • Health & Safety obligations of the client were addressed over time, with nil cost to them.
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