“Our team do an intensive analyses of a building, assessing the tenant mix and reviewing the financial flow to ascertain why it is that a specific building needs an intervention and how to go about turning it around. We also conduct a benchmarking exercise to compare the building to others like itself,” he explains.
“Based on the outcomes of the analyses, we then prepare a comprehensive turnaround strategy for the building. Our team can be as involved in the implementation of the proposed solutions as the client wants them to be – or we can hand over the strategy to the owner for them to implement themselves,” says Paul.
Gregg Huntingford, CEO of Spire, explains that some of the aspects assessed cover poor trading densities, improved optimisation of space, utilisation of dead space - such as roof tops - implementing sustainable/green measures, an improved tenant mix and evaluating the evolution of a building over the years, taking the surrounding community into account as there is a strong link between the success of a building and how it delivers to the needs of its community.
“In current recessionary conditions, the last thing a commercial property owner needs is a failing business unit that is costing them money every month, rather than making them a profit. Our new building rescue service is designed to remedy this and reverse any stubborn conditions that may be costing a building owner,” concludes Huntingford.
