Skypark
Glasgow
Commercial
Alllied London Properties
£89 million
Overseeing the complex, asset management initiatives, negotiations with tenants and refurbishments.
We were appointed to oversee this complex in 2002 when it was valued at £34.6million. Asset management initiatives followed whereby the complex was repositioned in the market. This involved numerous negotiated tenant surrenders and significant refurbishments to increase office rental from £8 to £16 per sq ft. The complex sold in December 2006 for £89 million.
Tenants: 103 plus 698 car parking licences
Uses: Industrial, Retail, Call Centre, Office Fast Food
Rent collection rate: 97% within 7 days of the due date
Service charge budget: £930,000 pa
Arrears on rent roll: 2%
2002 - 2006
Services:
Commercial