Institutional Property Fund
Institutional Property Fund.
Undertake a strategic review of the existing management of the retail park to identify potential:
- Operational inefficiencies
- Supplier optimisation opportunities – in terms of costs and service
- Ways to reduce voids
- Revenue generation opportunities
Having conducted a forensic review of the accounts and management files for the park, we presented the Fund Manager with a Business Plan for the retail park. Following approval of our recommendations, the financial and operational impact was immediate:
- The Operating Service Charge was reduced by 25% within 12 months
- Supply contracts were rationalised and re-tendered which resulted in improved service and better value
- Car parking income was generated from a standing start
- By improving the appearance of the park, we helped reduce voids by 60%
- The historically poor Health and Safety record/claims history for the site was improved - 60% reduction in claims.
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