As part of our initial portfolio review for an office occupier, we identified that the agent was over-budgeting, year after year and yet balancing credits were not issued. Instead, significant sums were being retained for unspecified future projects…
Recovering Excessive Reserves at Lease Expiry Read More »
Our client occupies 49,000 sqft in a recently redeveloped office building of 69,000 sqft under a single lease beginning in 2017 for a term of twenty years.
The reconciled accounts for the service charge year ending 31 March 2019 were received, accompanied by a balancing demand of £368,000. Our client had received no prior notification from the managing agent regarding the size of the balancing demand..
Assure Achieves Over £91,000 in Savings for Office Occupier Read More »
Following an enforced hiatus during the pandemic, expenditure on major works maybe set to return to ‘normal’ or even higher levels in the coming years. The underlying day to day costs of soft/hard services look to be remaining broadly flat or with minimal increases in 2022YE…
The Return of Major Works Expenditure Read More »
For us to understand what will happen to Office Service Charge budgets in 2022, we need to look back. In 2021, the approach taken by office sector landlords to budgeting has been mixed. Whilst the majority presented reduced budgets, compared to 2020, many adopted a ‘business as usual’ approach, issuing increased budgets that have included substantial major works in some cases…
Office Service Charge Budgets in 2022 Read More »
According to our research, Tenants are begining to protect their position to a far greater extent, with many more service charge caps and all-inclusive rents. If this trend continues, it is Landlords that will suffer the fluctuations. In turn, this directly impacts the net rent (after deducting service charge shortfalls) that they are able to secure across the let parts of their scheme…
Retail/Leisure Service Charges – Is there an alternative? Read More »
Assure Consulting attended the FlexSA (Flexible Space Association) Conference and Exhibition in London on 7 September, notable figures within the flexible space industry presented on key topics of interest to the sector.
Some providers within the flexible space sector have been significantly impacted by the pandemic, in particular the government’s directive to work from home. However, there is now a mood of optimism and excitement within the industry…
