Lease Expense Management for shopping centres and out of town retail.
After the challenge of having to close for periods of time over the last two years, retailers must now contend with rising service charges and inflationary cost pressures.
Occupiers are expected to meet customers’ sustainability requirements and balance investment in both physical and digital shopping experiences, systems and infrastructure and their own rising costs.
By identifying cost reduction areas within your portfolio and finding quick and easy savings, there is an opportunity to invest more cash back into the business.
Assure Consulting is at the forefront of lease expense management for shopping centres and out of town retail. Retailers work with Assure Consulting’s team of experts to gain control and value for money from recurring financial liabilities including service charges and insurance recharges.
Individual surveyors were taking an inconsistent approach to service charge management. This ranged from spending little time and authorising payments without question, to spending too much time on low value issues.
We now have control over our service charge spend and the comfort that each payment is being correctly and consistently challenged, with the additional benefit that our surveyors can focus their time on high-value, business critical issues.
The costs/return equation shows a clear benefit without even taking the reduced management time into account.
Out of town retail parks remained the most resilient during the pandemic but with the potential for ‘out of town’ to drive bricks and mortar retail growth, the current 3-4% average rate rise may increase. Read our latest Index.