Active portfolio management and Lease restructuring made significant cost savings for a Client who decided to close 40 retail and office premises all held on commercial leases.
We developed a clear strategy and plan to dispose of the surplus sites as efficiently and cost effectively as possible. This included a detailed financial budget for the whole programme.
We reviewed all the leases and reported on disposal options including upcoming breaks and expires. We appointed a network of agents to market appropriate premises, developing an individual strategy for each property including incentive packages for disposal and for the agents.
Our Corporate Real Estate team managed the decommission of all the sites simultaneously, arranging site clearance, security and key collection. We also dealt with close down of all business rates and obtained meter readings to pass to utility companies to secure lower “vacant” tariffs.