Spenbeck: A Brand New Service Charge - Case Study

NG were approached by the client, as they were having difficulties with current managing agents and wanted a fresh approach on the management of their 31,000 sq ft multi let office portfolio within the Lace Market of Nottingham city centre.

The main issue was the running of the service charge, which was causing issues with the existing tenants.

NG immediately assessed the existing service charge provision within the tenant leases, as well as assessing how the service charge had been run historically. We also spent time understanding how the building worked in a day-to-day environment, and spoke at great length with the clients to understand their objectives and future plans for the building.

On instruction, NG essentially stripped the service charge back to the bare bones and set up a brand new service charge for the buildings that was transparent, fair and in accordance with the service charge code of conduct.

Meetings were set up with the existing tenants to discuss the new budget and deal with any questions that they had in relation to it, to try and build some trust.

Tenants are our client’s customers and they therefore need to be treated as such, so it is important to understand their requirements.

The client said:

We believe James and NG to have a fresh and targeted approach which is very much in line with our own company ethos, and made the decision to instruct them an easy one. NG are very proactive and a pleasure to work with, so the transition has been seamless.

As we are keen to ensure the properties are leading the way with regards to provision and spec, we relish the opportunity to work with James, who is keen to get the appropriate management plan in place to maintain the building and keep it in good repair, whilst also working with us to identify areas where we would want to upgrade our provisions.

He has also already established a good rapport with our tenants, which is very important to us for our ongoing working relationships. We are enjoying working with James and know that he is working hard for us, so we wouldn’t hesitate to recommend NG based on what we have experienced so far.

NG said:

It has been great to be involved in the management of some architecturally significant buildings within the Lace Market, retaining them for office use, rather than converting to residential. Spenbeck are focused on creating cool and interesting spaces within their portfolio and working with them has been a real pleasure.

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