Institutional Property Fund

Brief

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

Result

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.