“Martin has acted as our local asset manager for over five years. Throughout this time he has consistently delivered solutions which enhance the performance of this important property asset. His strategic thinking, coupled with his in-depth knowledge of the local market, represents a unique and valuable set of skills. We are delighted to be able to work with such a trusted advisor.”
Martin Payne, Fund Manager
Henderson Global Investors
With its capital value at risk due to a large number of short term leases, Edgar Property Solutions successfully increased the value of this multi let building in Glasgow City Centre for Henderson Global Investors.
Challenges
The property at 95 Bothwell Street totals 135,000 sq ft and incorporates retail and office accommodation over 9 floors. With a high proportion of leases due to expire in less than two years, the Fund needed to protect their investment by securing longer term lets with existing and new tenants.
Solutions
Edgar Property Solutions adopted a traffic light system to depict the income expiry of all the leases, based on red for danger, with leases expiring in less than 2 years; amber for caution, for leases expiring between 2 – 5 years and green showing rental income in excess of 5 years. To download occupancy diagram click here.
In just two years, I transformed the income profile of the building from red to green, by concluding four asset management initiatives. I created and added value by restructuring existing leases, including removing a number of break options. I also secured new tenants on long leases.
