As with all local government bodies, a balance needs to be struck between maximising rental income and improving capital values.
At the same time, the needs of the local community and wider political agenda need to understood and acknowledged.
We are appointed by the London Borough of Wandsworth to deliver estate management services across its property portfolio, meeting the same objectives of maximising income and improving capital values, to the benefit of the borough.
We manage the Council’s commercial portfolio, which is made up of around 1,000 assets split into investment properties and operational buildings. These assets comprise a number of retail parades, office premises and operational buildings including council offices, depots, schools and libraries.
Sales programme management
We work with the Council in delivering a multi-property disposal programme. We have developed a marketing strategy that through a dedicated website effectively promotes the availability of property, particularly creating a higher profile for smaller lots.
The dedicated website is supported by a programme of national and local advertising to create an integrated campaign that maximises receipts for the Council.
More than £100m in capital receipts delivered
Over the last three years, we have achieved 98% in rent collection against rent demanded, and capital receipts for the 2011/2012 financial year exceeded £100 million.
In addition, over the last year a number of asset management initiatives have been undertaken on some key parades and business premises, where lease regears have enhanced the income flow and covenant profile.
Full estates management service
The services we provide to the council include:
- Estate management
- Acquisitions and disposal strategies
- Feasibility studies and option appraisals
- Landlord & tenant advice
- Dilapidation and condition services
- Asset transfers and capital accounting
- Asset valuations for capital accounting
- Reinstatement insurance valuations
- Conveyancing support
- Expert witness
- Non-operational housing management
- Planning obligations advice
- Security services
- Maps and plans
- Regeneration advice
Facilitating property investment decisions
Our approach to an instruction like this is to consider solutions for the client that will help facilitate wider property investment decisions.
On two specific operational buildings for Wandsworth, which may about to be declared surplus to requirements, greater flexibility has been afforded to the council through surrenders and the insertion of lease breaks. These have delivered improved returns and more effective portfolio management.