Delivering results, not driving turnover
Asset enhancement is the analysis of a building or estate, drawing up and then successfully implementing a plan to deliver improved income and value.
"We have enjoyed working with Damian for a number of years and view him as one of our most trusted advisers. His excellent understanding of our business allows him to provide more than just technical property advice and combined with his knowledge of the West London market, his overall input greatly contributes to our decision making process".
Richard Beim, Director, Viewranks
Why choose us?
- Proven experience. Lambourn Commercial has considerable expertise in this area.
- We devise a realistic strategy. We examine existing income, tenants and any vacancies and work on a strategy to maximise the asset, not only in terms of income but also with regard to tenant satisfaction and possible future expansion or development.
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Asset Enhancement. What many advisers and owners fail to capitalise on is their current tenants. Tenants pay rent which creates an investment.
Being able to communicate with Tenants is not always easy, as they have different objectives to the Landlord – keeping rents down, for example.
We understand these differing perspectives and have proven capability of bridging the divides
and finding common ground that enhances the asset, creating a beneficial relationship with the Tenant and consequently providing a benefit to the Landlord.
Case Study - Ashford Business Centre, Heathrow
Constructed by the MoD as a tank factory, and then used by a uniform manufacturer, the site has been adapted to provide 19 multi-let units totalling some 73,000 sq. ft.
Damian first became involved in 1998, when the estate had a large vacancy, and put in place a flexible letting strategy that brought in new tenants. By adopting a dedicated, hands on approach with the tenants since the beginning, Damian has ensured optimum occupancy levels and superb rental growth.
Continuing this approach has enabled both the landlord and tenants to respond to market conditions, both boom and bust, responding to the occupiers needs for expansion and contraction. As well as ensuring a well performing asset, it has also enabled tenants on the estate to grow from a 400 sq. ft. unit to up to 20,000 sq. ft.
Our involvement went well beyond just letting space, but advising on works required and a constant liaison with tenants to create a beneficial landlord/tenant relationship. The skills we provided included:
- Strategic advice and Implementing flexible lease and licence options
- Tenant liaison with at least monthly visits to site
- Re-gearing tenancy agreements to facilitate expansion and contraction
- Recommending and overseeing works to the estate and units when they became vacant