Managing a high profile UK office portfolio
IVG Investment, IVG Funds and IVG Asset Management divisions recently formed a strategic platform - enabling IVG to make selective investments and re-arrange its portfolio to increase the profitability of the assets. The portfolio includes several high profile buildings, including No. 1, Leeds, one of Leeds city centre’s most prestigious, modern specification office buildings. Other high profile occupiers across the portfolio include Prudential, JP Morgan, UBS, AON and Barclays.
Getting the basics right
To deliver savings and reduce voids across IVG’s portfolio, we undertake reviews of services, re-tender contracts and re-define the scope of works required, including rent and service charge collection. Across IVG's portfolio, we have developed a series of strategic management initiatives; such as replacing and adding on-site personnel, setting up occupier forums, investing in the latest visitor software and promoting green energy.
Occupancy rate up by 76% at No.1 Leeds
No. 1 Leeds is an excellent example of how we are managing IVG’s portfolio across the UK. When we took over the management of the portfolio, the occupancy rate for No. 1 Leeds stood at just 12%. To help IVG increase this occupancy rate, we make sure that the building presents exceptionally well and that occupier satisfaction is high. We ensure that the basics are right and that each property is presented to the highest possible standard.
Bespoke service for each occupier
Since our appointment as managing agents on No. 1 Leeds, the building has gone from 12% to 88% occupancy, with 90,000 sq ft having been let. For each new occupier, we have coordinated and overseen fit-out works to meet demanding timescales, at all times ensuring minimal disruption to existing occupiers and ensuring each new occupier gets off to a great start in a great building.