Day and Bell is involved with the management of a range of office premises. We adopt a collegiate approach, co-ordinating the vested interests of the tenants as occupiers, with management aspirations for landlords.
Adopting best practice guidance from the RICS Service Charge Code, we maintain transparency on accounting, to ensure tenants know where their funds are being spent and meeting leasehold obligations. In a fluid world of commerce and the changing planning framework, we find numerous asset management initiatives.
Here are a few examples:-
Stanhope House, Highgate
This office building was constructed in 1985 and our team has been involved since 1995. We have succeeded in finding new tenants for empty floors and conducted numerous lease renewal and rent review transactions.
One of our greatest successes was the conversion of the ground floor offices to attract a prestigious estate agency chain into two suites in the building.
Taking advantage of the relaxation of Town Planning controls, we also assisted with permission for conversion of the 2nd & 3rd floors residential use. We then co-ordinated the sale of the floors, ready for a buyers to create new luxury apartments in the heart of Highgate Village.
The transition of parts of the property to residential use created some fresh challenges of rebuilding the service charge matrix. Great co-operation is maintained with all tenants and services are provided to a standard befitting this high quality building.
Colne House, Watford
Our Developer client brought Day and Bell into this scheme at an early stage. We assisted with the conversion of this 25,000 sq ft office building to create a high standard of accommodation for the Healthcare Sector. Leases were granted to the NHS Foundation Trust for Mental Health Services, two local doctor’s surgeries and an independent pharmacy. We dealt with snagging issues and built the matrix for the new service charge regime and utility recovery.
The scheme was subsequently sold to an institutional medical fund.
Day and Bell took over responsibility for this 8,000 sq ft office building when we acquired a management portfolio from another surveying practice. The freehold was subsequently sold to another investment fund and we continued our services for the new client.
We provide comprehensive asset management services, including rent and service charge administration, lettings of various suites and a string of lease advisory transactions. The office market has re-shapen over our period of management, with many local buildings being converted to flats. Our clients have seen steady growth in rentals, as occupier demand continues to outpace a reduced supply of good quality buildings.
Hathaway House, London N3
Hathaway House is a relatively recent instruction for a private property company. We manage maintenance, rent and service charge accounting. This year we will see a major external renovation project, co-ordinated with our Building Surveyors. As Asset managers, we’ve worked hard to accrue sufficient funds for the contract, involving Reserve and Sinking Funds, service charge caps and transparent accounting with our tenants. We’ve also assisted with revisions to apportionments as new lettings of different suites occur.
Offices and Flats Development in Watford
Day and Bell were brought in to manage the de-commissioning of a 18,500 sq ft multi-let office building with 36,000 sq ft property to the rear. This was successfully co-ordinated we now have live-in guardians securing the property and mitigating Business Rates liability.
More exciting is our consultation advice on the future management and service charge liability for the new development planned for the site. Our client is a development partnership to create over 100,000 sq ft of Grade A office space, including ancillary coffee shops and a 23 storey residential tower incorporating 154 residential apartments. Watch this space!
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