THE BRIEF
Client and location: A prominent building in Derby City Centre.
Sector: Retail/Leisure.
Services provided: Property & Asset Management: Service Charge Consultancy, Asset Management, and Rent Collection.
Challenge: The building, significant in its location, required comprehensive management to maximise its potential, especially in light of the upcoming Assembly Rooms regeneration in the area. The property consists of a restaurant leased to Nando’s Chickenland Ltd and a retail unit leased to Done Brothers (Cash Betting) Ltd (t/a Betfred), with residential floors above.
Client Testimonial
“We were delighted to secure the acquisition of this landmark property in 2022. This is an important investment for us and therefore we looked to appoint a reputable and established managing agent to ensure its value and qualities continue to deliver. Following a robust process, we believe this will be achieved by Innes England, as we look to strategically invest and give this property the future it deserves.”
The Vendors
The Solution
A comprehensive Property Management solution was provided by Innes England, who implemented a full-spectrum property management strategy:
- Property upgrades: Initiated improvements to the property to enhance its appeal and functionality.
- Strategic asset management: Planned and started to implement long-term strategies to increase the property’s value and align with the expected city regeneration.
- Service charge consultancy: Provided expert advice on service charge management to ensure fair and efficient allocation of costs.
- Rent collection: Efficiently managed rent collection, ensuring a steady income stream for the property owners.
The Results
- Enhanced property value: The immediate improvements and strategic management have begun to enhance the property’s value and appeal.
- Investor satisfaction: The property owners expressed their satisfaction with Innes England’s approach, noting the importance of the building in their investment portfolio.
- Departmental growth: This project reflects the growth and success of Innes England’s Property Asset Management Department.
- Prepared for future development: The property is well-positioned to benefit from the upcoming investment in Derby City Centre, particularly the Assembly Rooms area.
Conclusion
The Market Place, Derby demonstrates Innes England’s expertise in managing prominent properties in key urban locations. The approach not only addressed the immediate property needs but also aligns with broader urban development plans, ensuring long-term value and satisfaction for property owners and tenants alike. This project showcases Innes England’s ability to deliver comprehensive property management services that drive growth and enhance asset value.
“We were really pleased to have been appointed on the management of this property in what is such an important location within Derby – an area of the city which is expected to have significant investment in the coming years, as part of the Assembly Rooms regeneration – of which this property is at the heart of.
“Over the last two years our management has made significant improvements to the property and we look forward to continuing to implement and oversee further investments for the future”.
Matt Howson, Director at Innes England