From managing agents to providing a full asset management service for an office building.
CKD Galbraith were originally appointed as managing agents for this building, however this has since developed into a full asset management role. This office building, comprising approximately 16,500 sq.ft. of open plan accommodation, is let to 4 tenants. Recent initiatives utilised to secure favourable outcomes for the client include:
Using our skills in tenant relationship and lease restructuring, in conjunction with a full refurbishment of the common areas, rental income has grown by over 30% in the last 2 years.
In addition to completing the refurbishment contract on time and on budget, we recovered all monies for the refurbishment prior to placing the contract.
Through close tenant liaising, 2 recent tenant break options have been avoided.
A recent re-tendering of supplier contracts has achieved savings in the service charge of approximately 20%.
After a long period of vacancy, CKD Galbraith, on behalf of the client, appointed and was the day to day contact for, local letting agents. This resulted in a letting of the entire vacant accommodation.
Our property management and asset management roles continues and further initiatives to increase rental security and, ultimately, capital value are ongoing