As is so often the case in the world of commercial property, a vacancy opens the door to opportunity. One tenant becomes insolvent making way for a well advised landlord to unlock the value in their asset with the right advice – combine units, redevelop upper floors, re-gear leases and so on.
So it was with the retirement of veteran Landlord & Tenant surveyor Mark Bradley at the end of 2022 that his departure after 23 years with FHP working across the retail and leisure sectors opened the door for me, a door which I was more than happy to walk through.
Having worked alongside Mark for a number of years I have tried to absorb as much of his knowledge as possible. I now find myself inheriting not only his cases but a lever arch file of end allowances and Arbitration awards that date back nearly a quarter of a century!
Looking ahead to 2023, it’s no surprise to know we are expecting challenging and changing times in many sectors and regions that, once again, can represent opportunity. With operators looking ever more closely at their outgoings, seeking to reduce rents and benefit from rent free periods, lease renewals are likely to become more contentious whichever side you are on. Particularly in those areas where rents remain strong or have yet to catch up with the economic stresses. Getting good quality advice in these situations is as important as ever, perhaps more so.
Landlords need pragmatic advice to get the best outcome, whether that means taking a co-operative approach to retain a valuable tenant or, as the situation demands, a more bullish strategy to avoid being taken advantage of by national chains playing hard ball.
Likewise acting for tenants, we can use our market knowledge to advise on how to achieve the best deal that keeps your business viable in tough times. This is where I can step in and offer my own advice with the benefit of not only the years of experience Mark Bradley brought to the practice but that of FHP’s award winning agency teams.
For more information on how I can assist with your lease renewals and rent reviews, please contact me by email (tom@fhp.co.uk) or phone (07970 168 138).
On behalf of private clients, FHP’s Commercial Property Management team have been instructed on 17-21 High Street, Ruddington. The property consists of high-quality retail and office/studio space and is well positioned in this desirable Nottinghamshire village. The services provided will include rent collection, management of service charges, tenant liaison, handling insurance and financial reporting.
Associate Director, Tom Wragg comments “We are excited to be working with new landlord clients, advising on day-to-day management as well as providing strategic advice. We look forward to building relationships with longstanding tenants and ensuring a smooth transfer of management from the previous agent.
We tailor our services to each client’s unique needs and that of their properties to protect the landlord’s investment and deliver a high-quality environment for their tenants but more than that, we view property management as the gateway to unlocking value in the property through active tenant engagement and proactive advice. With FHP’s in-house agency, valuation, landlord and tenant and business rates surveyors, we have the expertise to do that.”
If you require further information on how we can manage your commercial properties, please contact Rob Spencer, Tel: 07876 396001, Email: rob@fhp.co.uk
Tom Wragg
2 March 2022
FHP are pleased to announce a letting of the Hope & Anchor in Wirksworth to independent operators. Under the new management, the historic, Grade II Listed building located in the centre of the picturesque Derbyshire town, will undergo significant internal refurbishment. The business partners behind this venture will offer first class food and drink and breathe new life into the venue.
Tom Wragg of FHP Property Consultants Ltd commented:
“Having managed this property for our investor client since their purchase, we are pleased to have achieved this letting through close liaison between the management and retail departments. We are excited to see what the new operators can bring to the table with their obvious energy, creativity and experience.”
Ben Robinson, one half of the driving force behind the new look Hope & Anchor added:
“We are undertaking a major refurbishment of the premises and will be serving top quality, fresh food with the finest drinks in a relaxed atmosphere.”
For further information on FHP’s commercial management services, please contact Tom Wragg at FHP Property Consultants on 0115 950 7577 or tom@fhp.co.uk.
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