Case Studies

Property Management Case Studies - BNP Paribas Real Estate UK  

Confidential client

Mothballing 60 retail properties in a month
We mothballed 60 retail properties in a month and then acted as the managing agent on behalf of the receiver and guarantor. Our agency team also dealt with some of the disposals.

  • Location National portfolio UK and Ireland
  • Key figures 47 properties, 1.5m sq ft, total rent liability of £17.2m per annum
  • Contact Louise Barnes, +44 (0) 121 234 6851

 

The results

  • Our client was able to significantly reduce its risk by mothballing the 47 properties within a month, in line with landlord and insurance requirements
  • It was able to control the costs associated with the management of the properties
  • The client was able to ensure rents, service charges, insurance and other costs were managed by gaining budgetary control of the properties.

The challenges

  • Our client was a guarantor of a business and when it went into receivership our client inherited a corporate legacy portfolio of 47 retail properties. The properties were a huge liability for our client and it needed someone to take control and manage the assets in order to control its costs and reduce risk.  

What we did

  • We inspected every unit to identify whether it was secure or occupied to give our client a full understanding of the portfolio
  • We assisted with the decommissioning of services across the portfolio and put in place an inspection regimes to ensure the safety and security of each site
  • By liaising with our client and its lawyers we ensured that the landlords were paid
  • Our property management team took on the day to day management of the properties to enable our client to concentrate on its core business
  • Our agency team assisted our client with the disposal of several of the properties.

 

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