Asset management – strength in numbers
3rd June 2021
Over the last 14 months, most of us have felt that we have been thrown into the washing machine and then spat back out again. We’re still trying to find our bearings after much juggling with personal and professional commitments.
The good news is that we are starting to go on holiday, go to the pub, and dare I say it, have some time to ourselves!
This upturn in activity has been mirrored at work. In our Asset Management department we have seen a continued commitment from our clients and indeed our client base has increased by 14% from the previous 12 months (March 2019 – March 2020). This has meant our property base and tenancies have also increased by a respectable 11% and the annual rent roll has increased from £4 million to £4.6 million. This is a mixture of existing clients acquiring new properties and retaining us to manage them, and us attracting new clients to the firm, which we are always excited about!
The sentiment has been that we have knuckled down, got on with the job, and helped wherever we can to ensure that our clients are properly updated and our tenants helped as best as possible, to maintain that very important working relationship.
In return, whilst times have certainly been very tough, it has been very much a team effort.
That said, and telling of the times, and how we expect certain sectors to shift in forthcoming months, is the increase of vacant properties we manage up from the previous year following tenants ceasing trading or condensing their business operations meaning less physical trading space is required. This sets us and our Agency colleagues new challenges, but it also provides new opportunities for welcoming new businesses into our properties.
So, whilst we don’t expect things to get easy overnight (and anyone in property management will know it is never easy!) we are confident that as an efficient, robust and experienced team, we can continue to be there for our clients and manage their assets as best as we can, continually thinking outside of the box.