Returning to Distribution Centre Service Charges
We recently completed a benchmarking exercise as part of our Spotlight on Distribution Centres. This provided details on comparatives rates in £spf for service charge and insurance…
service charge budget
Recovering Excessive Reserves at Lease Expiry
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…
New Positive Approach Resolves Old Dispute Resulting in Initial Saving of £40,000
Assure were instructed on a new Service Charge management contract for a multi-site retailer, who had previously been managed by another consultancy. We always kick start new instructions with a thorough review of the lease, financials and an account reconciliation. A fresh pair of eyes will often identify new issues or new ways of resolving old disputes…
Assure Achieves Over £91,000 in Savings for Office Occupier
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..
The Return of Major Works Expenditure
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…
Hybrid Working – The Challenge for Office Occupiers and Landlords
The Covid-19 pandemic has had a significant impact on office occupiers and landlords which looks set to continue for some time. Whilst it has not been a mandatory requirement, the Government has advised businesses to allow employees to work from home, if possible, at various times throughout the pandemic. Many employers have implemented hybrid working either for the foreseeable future or as a permanent arrangement…