CASE STUDY
Property Asset Management
Murray Commercial
Angel Walk Shopping Centre, Tonbridge, Kent
Client
Family Office UK based
Building Size and Use
18,470 sq ft comprising a purpose built shopping centre
Appointment
Murray Commercial Ltd’s appointment commenced November 2020
Service Charge
£60,000 per annum
The Brief
Tonbridge shopping Centre consists of 11 Units and includes multiples such as Superdrug and Timpsons as tenants. The role includes providing a full asset management service and on-site facilities management support. We were brought in as the owners were unhappy with Savills who were the then managing agents as there were substantial arrears in the centre and there were 3 empty units.
Action and Outcome
- Property Management, including, service charge collection and administration, planned preventative maintenance rogrammes and tenant liaison initiatives.
- Management of estate common parts.
- Providing detailed quarterly management reports and driving out income and marketing opportunities
- Putting in a Car Parking company to charge and collect approximately £1200 in monthly income which was previously not collected.
- We met each tenant and agreed a payment plan for the arrears and worked with a local agents and within 18 months had let the empty units achieving 100% occupancy.