INCOME GENERATION
In times of weak occupier demand, landlords regularly face the double impact of reduced rental income and increased non-recoverable costs, across their investment portfolios. Tim Harries & Partners have good practical experience of identifying and implementing a range of income-producing initiatives and commercialisation, and effective cost-mitigation aimed at reducing the impact of void property costs, including service charges, insurance and business rates.
Acting on behalf of the asset managers of a regional office building, Tim Harries & Partners recently negotiated the terms of a joint venture agreement between the client and a specialist car park operator, to generate additional income from vacant car parking, which combined with a business rate mitigation scheme, is targeted to generate income and savings for the clients totalling over £100,000 a year.
