60 Spring Gardens, Manchester

Client
Private Client

Location & Size
c. 26K sq ft office building in Manchester City Centre, with 8 units

Appointed
January 2016

Role
Investment, asset, property & facilities manager, and corporate service provider

Asset Management

  • Ahead of the acquisition Catella APAM built a five-year business plan to demonstrate investment opportunity to the client and agreed delivery strategy to ensure target returns were met.
  • Deployed £2M of capex over the business plan and delivered a speculative fit out of all floors, improved reception and new shower, changing and cycle store facilities.
  • Asset revalued following delivery of first two years of the business plan at £26.1M; a 5% increase on the acquisition price.
  • Lease Events Managed: 9 new lettings, regears, renewals and rent reviews and we have added £2.6M in value to the asset.

Property Management

  • Recommendation, delivery and management of the asset ESG strategy.
  • EPC of C secured with pre-planned maintenance strategies in place to improve during the business plan.
  • All Governance Measures are proactively actioned and regularly updated.
  • Rent collection improved to 96% and 95% for rent and service charges respectively since acquisition.
  • Service charge budgets and reconciliations delivered in line with RICS governance timescales.

ESG

  • ESG is embedded in our business plan at 60 Spring Gardens and the strategy, both in terms of capital expenditure and planned maintenance
  • Examples include the installation of best-in-class end-of-journey facilities, collaboration space and M&E upgrades resulting in EPC improvements (D to a B rating).
Scroll to Top
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.