A Kidderminster property investor couple have doubled occupancy levels on their industrial estate and boosted rents after instructing new property managers on a recommendation from their solicitors.
The Swift Buildings on the Hoo Farm Industrial Estate are now fully let but were only 46% occupied when Thursfields introduced multi-disciplinary property practice Fisher German to take on managing the asset in summer 2014.
Three of the eight units, which together total 34,226 sq ft, were vacant back then after tenants went into liquidation. Fisher German has worked with the owners and remaining occupiers to fill the empty buildings – and boost the average rent paid per sq ft by 14% and the overall rent roll by about 25%.
Fisher German property management partner Dan Ballard said: “Our job is to maximise returns for investors in income and capital growth while minimising risk. It was clear to us when we took on Swift Buildings that rental values were too low and vacancies too high.”
Fisher German manages over 800 commercial properties with more than 1,400 tenants and a capital value exceeding £120m for investors, property companies, charities, trusts, pension funds, SIPPS and individuals.
Dan added: “We believe that effective property management requires hands-on day-to-day detail alongside proactive asset management initiatives.”