David Powell, Associate Director at FHP Property Consultants, has confirmed the property management team at FHP have been instructed on additional property management services on behalf of retained clients, Hard Rock Cafe.
The new instructions involve the management of Hard Rock Cafe’s sub-tenanted UK properties. FHP will be undertaking all rent, service charge, and insurance recovery from the sub-tenants, and ensuring that all lease covenants are adhered to by both sub-tenants and landlords. They will also be providing a property inspection and service charge consultancy service.
David Powell commented that:
“We are delighted to further our existing working relationship with Hard Rock Cafe whom have been clients of FHP since we brought them to Nottingham in 2002. We believe our appointment is testament to the high quality service we have provided them in the past. Hard Rock Cafe vacated underperforming sites in four cities several years ago but have been left with onerous lease terms. These have been mitigated by sub-letting to alternative restaurant operators, but this in itself provides a challenge as there is another relationship to manage. By appointing the specialist services of FHP we will ensure that all sums due under the sub-leases are recovered, whilst making sure charges raised by Hard Rock Cafe’s Landlords are in accordance with the lease terms”.
Michael Booher, Director of Accounting – Europe for Hard Rock Cafe, commented:
“By appointing FHP time will be freed up throughout our team allowing us more time to concentrate on our core business activities. We are also confident that our property interests will be greater protected and the properties fulfil the requirements of our tenants”.