Asset Management Portfolio
Reinstatement Cost Assessments
Client – Stenprop
Asset Value - c£350m
Location – 60 sites across UK
Trinovant have been appointed to undertake Reinstatement Cost Assessments for our clients UK wide portfolio of c60 mixed use industrial estates.
We undertake physical inspections on a three yearly cycle with intermediate annual desktop assessments to ensure values are current with market conditions.
Our experience with new build and refurbishment works puts us in a unique position to accurately assess the re-build quantum. We pride ourselves in detail, ensuring that any significant changes in declared value are fully reviewed and justified to allowing our clients to relay these concisely to their tenants.
Trinovant have also recently been appointed to under Planned Maintenance Reports across the portfolio to better inform our clients long term maintenance costs.
Juniper Park, Basildon
Warehouse Refurbishment & Schedule of Condition
Client – DG International
Contract Value - Undisclosed
Location – Basildon, UK
An extremely tight programme for occupation meant an initial fast track procurement route was required and c£70,000 of works delivered within a 2.5 week period to get the client operational.
A further six week programme of office fit out works were undertaken with the tenant in-situ following which a detailed Schedule of Condition was undertaken and negotiated with the landlord.
Speed and minimising disruption were vital during this project and Trinovant worked closely with the tenant team to ensure their objectives were met.
Forth Industrial Estate
Pre-Acquisition Building Survey & RCA
Client – Industrials UK Ltd
Size - 40,000 sqft
Location – Edinburgh, Scotland
A fast turn around pre-acquisition survey of a multi-let industrial estate in Scotland, with a Reinstatement Cost Assessment provided on completion.
Our scope included a review and comment on proposed tenant works to help structure a tenant incentive scheme and ultimately allow our client to better inform their business model.
Our involvement in this property has continued to include long term maintenance advice.
Ivy Road, Aldershot
Acquisition Building Survey
Client – Marchmont Investment Management
Size - 25,000 sqft
Location – Aldershot, UK
Trinovant were appointed to undertake a pre-acquisition Building Survey of this stand alone industrial unit with ancillary two storey office accommodation and secure hard standing.
Our reporting included a detailed assessment of the current lease liabilities/opportunities as well as the expected future maintenance requirements allowing our client to better evaluate their investment criteria.
Poulton Close, Dover
Landlord Dilapidations & Contract Administration
Client – Industrials Uk Ltd
Location – Dover, UK
A back to back letting was achieved through the successful negotiation, settlement and refurbishment of 4No light industrial units in Dover. Detailed strategic advice on the financial and programme implications to align with the clients requirements were provided form the outset with the ultimate goal of minimising void periods.
Trinovant reviewed all of the lease and licence to alter information and prepared the dilapidation schedules using market costs obtained through a tender process. Negotiations with the tenants appointed representatives were undertaken and a swift settlement was achieved facilitating the back to back letting.
Trinovant managed a package of refurbishment works aligned with the incoming tenants requirements to fulfil the lease obligations.