Developers & Investors
focus on developers & investors
Whilst the main focus for Developers & Investors is to enhance the value of their property assets and achieve commercial returns, in order to achieve those returns it is essential to deliver a product that attracts Tenants via effective development, refurbishment and management of their property assets. There are a number of consistent elements across our work with these clients:
Effective Due Diligence
It is vital to fully assess assets that are being acquired, not merely their current condition and any specific risks associated with their acquisition. It is important to assess the opportunities for such assets in order to consider refurbishment or redevelopment costs, and the potential value enhancements that could be delivered.
Management of Assets
Asset management is a vital part of owning commercial property, ensuring the value of existing assets are protected. A major focus of our role is supporting Landlords in establishing effective leases where their interests are protected via appropriate dilapidations and repair clauses.
Assessment of Preferred Solutions
On considering any capital expenditure on assets, bringing together the right team is an important starting point. The right team, with the skills and experience of the type of property involved, can support identifying a series of alternative solutions to permit full assessment of the preferred solution.
Investment in Redevelopment
One of the challenges surrounding the refurbishment of assets, particularly offices, is the nature of the base build. Many assets built 20-30 years ago are constructed using modern materials with a lifespan of a similar period. In order to avoid future Tenants seeking limits on their repairing obligations, full replacement of M&E systems, curtain walling and other lightweight cladding is essential. Such major refurbishments require significant investment of capital, something which may not have been factored into the valuation of the asset.
our Services for investors & developers
Underpinning our service offer are the core skills and services expected of a leading Consultancy:
- Provide Technical Due Diligence on new acquisitions to ensure risks and opportunities are fully understood, including managing and coordinating with other consultants and providing Reinstatement Cost Assessments;
- Effective asset management including the preparation of planned preventative maintenance schedules and interim dilapidations;
- Support Landlords with lease and agreement for lease negotiations;
- Lead the delivery of refurbishment and redevelopment projects working closely with the client and design team;
- Provide full reporting, progress tracking and construction management services;
- Support exit of former Tenant including preparation and negotiation of dilapidations.
The aspirations and vision for any instruction are what drives the outcome, however, the success of the investment itself is measured by delivering on time, on budget, and to the quality levels expected.
Our experience across our work with Developers & Investors, ensures we understand the challenges they face, but working with our Clients to develop solutions that best address their needs.
Donald and Greig have worked with numerous Developers & Investors over recent years, both within Reid Mitchell and in previous roles.
Donald and Greig’s experience includes working with the following Clients (the Clients listed are either live Clients, or Clients worked with personally in previous roles prior to establishing Reid Mitchell):
- GE Real Estate
- BMO Real Estate Partners
- Commercial Estates Group
- Aberdeen Standard Investments
- Aviva Investors
- Ross Motors
- MacArthur Investments