Complying with a landlord's insurance requirements can sometimes be just the start, as FraserCRE found when it took over the management of a large empty site in Shoreditch. The insurers stipulated weekly site inspections, but within days the site had been broken into and the building stripped of its copper wiring and metal piping.
Given a history of illegal raves in the local area and the onset of summer, FraserCRE arranged for a team of former Gurkahs to live on site and provide 24/7 protection. Working with the landlord to recover the cost of the damage, we were able to open up a dialogue to surrender the lease, saving our client over £500k and letting him sleep through the night, without the worry of a late night call from the police.
We are pleased to have transferred the management obligations of our surplus properties. This now enables the team to focus on adding value to our operational estate of over 650 properties rather than spending resources and time managing a diverse non core-portfolio.Paul Harris
Executive Director of Property at Virgin Media