We provide a tailored and measurable management solution aimed at maximising the long-term value of the underlying property assets. We always look to reduce exposure to risk and income shortfalls whilst at the same time working hard to uncover any latent value.
Moran Asset Management has been responsible for driving the performance of a portfolio of assets exceeding on average £75 million in value over the last five years throughout the United Kingdom.
We work with assets from the ground up. Only once an asset is properly understood can we start to work though and create added value. Our impressive track record speaks for itself through client references and the performance of properties under our management.
Each asset is managed with a clear-sighted and hands on approach. We employ an ongoing cycle of evaluation which is distilled down into succinct monthly reports for our clients and partners.
We work hard from day one to really understand an asset from the ground up. Small details can quickly become major issues and it is critical to develop a local presence such that site-specific matters can be properly analysed and acted upon.
Whilst every strategy is tailored to an individual asset, core initiatives will likely include:
- Understand needs of any finance partner in respect of any critical timescales and debt management covenants
- Developing close, productive relationships with occupiers to understand their evolving needs and forecast future demand
- Improving income quality by introducing better tenant covenants or guarantors and/or landlord break options
- Pro-actively seek out new tenants in tandem with any retained letting agents
- Maintaining business plans for every possible void scenario to ensure any income loss is mitigated – and where possible an alternative tenant is already in place
- Maximising income through rent review, lease renewals and re-gears
- Creating additional income sources through incorporation of mall income sites, advertising, local events and efficient usage of any car parks
- Working with dedicated facilities management teams to identify and plan for capex requirements – either as part of a service charge programme or for landlord works
We work strategically with every asset to prepare some or all of the following, wherever possible:
- Annual business plans setting out key objectives and risk items
- Quarterly updates to the above with specific action points
- Monthly investment reports to monitor delivery of key variables
- Partner relationship with local authority in respect of common, agreed plan for the asset’s locality
- Option agreements on adjoining land and/or pre-emption rights on adjoining assets
- Promotion of future development options via the planning system and evolving Local Plan
- Planning and delivery of any necessary infrastructure works to safeguard future works
- Appointment and management of professional team to identify and evaluate possible extension options
The services employed in delivering a first class asset management capability vary considerably according to the subject property or portfolio. Typically however they include the delivery and/or overseeing of some, or all, of the following:
- Asset reviews and business plans for bank and debt negotiations
- Lettings and tenant negotiations
- Lease appraisals and re-gearing
- Asset reviews for bank and debt negotiations
- Property management and building maintenance
- Marketing, PR and community engagement
- Examination of development options
- Management of pre-development process
- Monthly client reporting
- Quarterly strategic reviews relative to wider market