Daniel Watney
Call us on: +44 20 3077 3400

50 Cannon Street, London, EC4N 6JJ

As part of the asset diversification strategy for MDDUS 50 Cannon Street was purchased in Central London offering 26,150 sq. ft. of office multi occupied office space. With the Daniel Watney Investment Team advising on the purchase and the Commercial Management Team at the forefront of the ongoing management since 2016.

The client strategy on this building was a long term hold, with this in mind protecting leasing events and having a proactive 10 year planned preventative maintenance programme in place were essential to the delivery of client requirements.

Client
MDDUS Properties
Service
Commercial Management
Sector
Office
Representing
Landlord

Our Role

It is our responsibility as Commercial Property Managers to collect Rent, Service Charge and Buildings Insurance from the tenants. Records for which are stored on our Accounting and Property Management Software and are available electronically to all clients and occupiers via the live web user portal. At the end of service charge years externally audited accounts are prepared and balancing charges/credits issued in line with RICS expectations, it is the Commercial Property Managers responsibility to manage the budget throughout the year and report to the client on parodic variances.

It is our responsibility as Commercial Property Managers to liaise directly with the occupiers through the management of their leases, tenant screenings, complaints, variations to leases as well as ensure tenant expectations are being adhered to.

All repairs and maintenance subject to occupier leases fall under the responsibility of the Commercial Property Manager. In addition to the reactive maintenance we have a 10 year planned preventative maintenance programme in place.

Result

Having managed this asset since 2016 and successfully negotiated a number of lease renewals with existing tenants we demonstrated that occupiers are happy within the building, this is echoed by the lack of voids within the building.

25,046
Square Foot
£353,131
Service Charge
£1,605,667
Rent p.a

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