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Sanderson Weatherall issue property investors

Sanderson Weatherall issue property investors’ survival guide for 2010
With the media announcement of the ‘beginning of the end’ of the recession in the UK, a North East consultancy has devised a survival guide to ensure commercial property owners are not leaking vital funds over the next twelve months.
North East-based Sanderson Weatherall has developed the guide to highlight tips to reduce property costs, maximise savings and help businesses secure loans against premises, as the UK market begins to stabilise.
Tim Catterall, Director of Agency, Investment and Development, said after wage bills, property is the largest cost item businesses have to grapple with.
“Property accounts for the largest chunk of a business’s outgoings after salaries, so ensuring buildings are not passively wasting money is vital – particularly so at the moment.
“Hopefully the 2009-2010 guide will be food for thought and will remind businesses to periodically assess their buildings or investment portfolio to keep cash flow as efficient as possible, especially over the next twelve months.”
Owing to legislation changes and tax threshold revisions, a building can become a drain on company finances very quickly, added Mr Catterall, and can catch out unprepared firms.
Over the last five years, the firm has provided ratings advice to Lingfield Estates in Darlington and helped reduce their Business Rates liabilities by more than £1m.
Other areas where substantial savings can be made include ensuring properties are not over-insured, investigating Capital Allowance claims and Service Charge recovery opportunities.
And space planning – assessing the floor area and configuration of business premises – could also produce a drastic rent reduction or a sub-letting opportunity through downsizing.
He said after renovation work at Sanderson Weatherall’s Newcastle office, the firm halved its spatial footprint resulting in a 47% rent saving.
“Reviewing operational efficiency at this crucial stage will enable property owners to come out of the recession in the strongest possible position. A thorough assessment could generate substantial savings and enable faster growth as the market improves,” he concluded.
Copies of the ‘How Efficiently are your Assets Performing?’ guide are available at Sanderson Weatherall’s offices across the North of England and in London.
For more information visit www.sandersonweatherall.com
 
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