Sword House, Totteridge Road, High Wycombe, Bucks, HP13 6DG
Daniel Watney secured the instruction of this multi occupied office building on behalf of Energizer Group. Energizer Group are owner occupiers of this building across two floors with the additional five floors let to sub tenants.
The client strategy for this building was to regulate the day to day management and accounting processes going forward further to years of internal management and neglect. In addition to this our client is the head lease holder to three sub tenants and as such the client requested that we ensured that they were complying with their lease obligations to the freeholder as well as the sub tenants.
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
After taking on the instruction it became clear that the sub tenants were frustrated by the way in which the building had been run.
There was frustrations concerning the involvement of Mitie as they were very expensive and under delivering, with this in mind when it came to the renewal of the Mitie Contract we terminated their contract and conducted a comprehensive tender process. Further to the tender process a company called Voltix were appointed and the building as a whole are satisfied with Voltix as well as the comprehensive annual PPM programme established. In addition to resolving maintenance and M&E frustrations we also resolved the backdated issues concerning a lack of auditing of accounts. 2018 accounts have now been audited and the 2019 accounts are being prepared at the moment.
