commercial property lambert smith hampton

Our work - 21/02/2016

Identifying commercial opportunities to maximise returns and improve passenger experiences

We have delivered multi‑disciplinary estate management services and strategic property advice to Northern Rail across its portfolio of 465 managed stations in the North of England since 2008.

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During this time, we have maximised returns from Northern Rail’s property assets and improved passenger satisfaction through the identification of commercial opportunities, better utilisation of redundant or difficult‑to‑let operational space, and improved and upgraded tenant mix and station facilities.

To date, we have grown the rent roll to in excess of £1m per annum, and have also supported Northern Rail’s investment programme at some of its major stations.

Specific examples include:

  • We identified a commercial opportunity to bring the disused buildings at Harrogate Station back into use and coordinated the £400,000 refurbishment programme which was successfully pre-let to Pivovar, trading as Harrogate Tap. The station buildings now generate an annual rent of around £50,000 and provide an attraction within the station environment, drawing in additional custom.
  • Following the £40m transformation of Manchester Victoria Station, we secured several new tenants including high street retailers Starbucks, WHSmith, M&S Simply Food and Greggs.
  • We negotiated a global contract with Selecta to provide approximately 60 vending machines, generating substantial income and providing vending facilities where it is difficult to justify a staffed retail / catering presence.

Image courtesy of Andy Thornton Contracts  

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