Client
Danish Pension Fund
Location & Size
c. 215K sq ft multi-let office building in Manchester City Centre
Appointed
December 2018
Role
Integrated investment, asset and property manager
Asset Management
- A comprehensive CapEx programme of c. £8.1M completed in Q3 2021 including the redesign of the atrium and refurbishment of 4 office floors
- A café and business lounge in the atrium opened in Q3 2022
- The building stands at an occupancy rate of 84% with APAM’s target to let the vacant space at a new headline ERV of £35 psf+
- Lease Events Managed: 13 new lettings, regears, renewals and rent reviews and we have added £23.2M in value to the asset.
Property Management
- 100% of historic arrears including Covid arrears collected.
- Current rent collection 100%.
- Replacement of M&E during refurbishment together with new passenger lifts
- Service charge budgets and reconciliations in line with RICS governance timescales
ESG
- Recommendation, management and delivery of asset ESG strategy
- Building EPC increased from D to B
- A café, gym, cycle studio and business lounge provides social amenity
Recent Highlights
- A letting of the refurnished ground floor completed in Q1 2023 (CAT B fitout) at £45 psf
- Two lettings on the first floor (Cat A) completed in Q3/4 2022 at £34 psf