CASE STUDY
Property Asset Management
Murray Commercial
Suna House, 65 Rivington Street London EC2A
Client
Panama Registered Company
Building Size and Use
12,500 sq ft – A Multi let building comprises a restaurant, cocktail bar, 5 suites of offices and 3 live work units
Appointment
Murray Commercial’s appointment as managing agents commenced in January 2022
Service Charge
£40,000 per annum
The Brief
The client appointed us as they were unhappy with the services of the previous managing agents who were a much bigger firm. The tenants had been allowed to build up substantial rental arrears. In addition some basic Health and
Safety was not being attended to, plus there were a number of empty units.
Furthermore it was obvious the existing tenants had lost confidence with their managing agent.
Action and Outcome
- Property Management, including service charge collection and administration, planned preventative maintenance programmes and tenant liaison initiatives.
- We tendered all of the maintenance contracts on site, appointed utility brokers to deal with the various gas and electricity accounts which were out of contract meaning the Landlord was paying expensive deemed rate tariffs.
- We did a new service charge budget as the previous budget was too high and was deterring would be tenants taking office space
- Within 4 months we had agreed Heads of Terms for the 1st office letting
- We ensured that the client complied with all Health and Safety legislation.