Residential
Aquisitions
The Asset Management team carries out acquisitions for the University and departments in a number of different sectors of the property market as follows:
Purchases of land, buildings, residential, agricultural and commercial buildings. The service includes surveys, valuations and appraisals for different uses i.e. offices, student accommodation or a house that a department or the University may be purchasing.
Disposals
Thie team carries out the appraisal and valuation of assets on behalf of a department or the University before disposal and obtains advice on value and the best method of selling the property.
Lettings
The team has expertise in the letting of commercial buildings and residential properties. A number of leases and licences have been organised for departments that are working with a company that has synergies and therefore may wish to share space for a while. It is very important if this is in a University building that the tenant inadvertently does not obtain security of tenure.
We have set up occupational licences where caretakers for departments live in accommodation provided by the department, again, it is important this is formalised.
General advice and management
Valuations
On a number of occasions we are asked to provide valuations of all types of property and this office has expertise to source the necessary skills for this exercise.
Rent reviews
It is important that the University minimise any increases where it is the tenant of a residential or commercial asset. However, in addition where it the University is landlord, it is looking for the best return and uplift where possible. This office deals with many rent reviews on both sides and again has expertise in house.
Lease renewals
When a lease expires it is important to have professional advice to make sure the new terms reflect the current market conditions. For example, if the University is the tenant of a building at the moment, the Asset Management team have been able to negotiate favourable terms i.e. rent free periods or contributions from the landlord towards the fit out.
Refurbishment/Repairs and Maintenance
The team carries out a number of refurbishments and repairs to both residential and commercial properties where it is commercially viable and this office project manages the works.
Planning/Development
The team has the expertise to deal with land sales, acquisitions and deal with planning permissions on parcels of land and the associated valuation advice.