With the growth in the sector, we felt it was time to shine the Spotlight on Distribution Centres and update our work on service charge and insurance rates payable by occupiers of warehouses and distribution centres.Our research covered 132 locations across the UK. The findings allow us to benchmark costs and then quantify the significant scope for potential savings…
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…
From our internal research, based on renewals that have taken place over the past three months, landlords insurance recharges are rising. We are seeing average increases of 13.5% feeding through at renewal. This is a combination of rising declared values (4%) and escalating premium rates (9.5%). In many cases the increases are far greater, with Landlords extending their cover as well as taking a more active role in the identification of risks…
For us to understand what will happen to Service Charge budgets in 2022, we need to look back. In 2021 service charge budgets reduced by 9% for Shopping Centres and 4% for Retail/Leisure Parks. This was mainly due to the withdrawal of major works and reduced marketing throughout the lockdown periods. There was relatively little in the way of reduced manpower costs, despite Furlough, so that’s one to look out for as we await the final reconciled service charge accounts…
Latest Refunds and Savings With cost saving and refunds high on the agenda, I thought we would share some of the issues that we have dealt with this week……. Double payment of insurance …
DOUBLE OR TRIPLE CHARGING FOR EXCEPTIONAL WORKS! With deferral & subsequent carrying forward of postponed works coupled with delays in certifying service charge there are instances where service charges levied on-account can effectively …
Double or Triple Charging for Exceptional Works! Read More »
