We provide a comprehensive range of technical property services which are commonly required by occupiers and owners of property. Whether you wish to supplement the capabilities of an existing in-house team, use bespoke services when required or ask us to run your property estate, we have the skills and resources to support you.
We often find that clients are not aware of their potential to minimise risk or maximise gains in any given situation. We proactively look for ways in which we can take advantage of such positions for your benefit.
List of services
Our team of property professionals provide all the services usually required by our clients, whether these be acquisitions, disposals, relocations, rating appeals or dilapidations claims. We can also arrange for planning and architectural services and help with solicitors where necessary.
We are experts in lease restructuring and finding other ways of reducing overall property costs.
Our clients include occupiers from the retail, leisure, office and industrial sectors.
Altore are able to search the market and search for both “on” and “off” market opportunities which match their client’s requirements.
We have extensive resources and use the latest industry databases to provide expert information that is not readily available in the public domain.
Once a property has been identified, we will negotiate on your behalf to gain the best possible deal, not just on rent, but also to ensure you are protected as much as possible on any future liabilities. We have previously agreed caps on rent reviews, service charge, repairing liabilities and other outgoings which have saved hundreds of thousands of pounds in some circumstances.
Altore have the skills to advise companies on the value of their assets, establish the ideal disposal method and report on achievable realisation price. We don’t give inflated values to win instructions and always provide open honest advice. We aim to deliver within the allocated budget and the timescales set out.
Properties are advertised via our network to a very wide or specific audience depending upon the required result. It may be that we advise to change the use of the property to a more valuable one through the planning process, thus maximising value. We understand the importance of client confidentiality and may be asked to look at disposals where staff are unaware, or the market in general should not be informed. Our work is discreet and professional; you can be assured we always protect your interests.
We are well versed in restructuring the leases of our occupier clients. In many cases, we are able to reduce headline rent, secure rent free and introduce flexibility of lease length.
Wherever possible, rent reductions are negotiated either as a permanent arrangement or temporary concession. Rent is the biggest fixed property cost and needs to be at a sustainable level supportable by the current economic conditions.
With enough notice, we can often agree a re-gear with the landlord prior to renewal which will reduce the costs of the formal process. Knowing your critical dates such as lease expiries, break options and rent reviews by using an electronic estates diary system will enable you to better plan ahead. Early planning will enable you to strategically review your requirements and negotiate optimum terms. Leaving matters to the last minute will always cost you more money.
Altore negotiate rent reviews and renewals on behalf of their tenants and occupiers. If not dealt with correctly, this can result in a significant increase in the rental level which will be set, generally, for a five year period.
On occasion settlements are via Arbitration or Independent Expert involvement, depending upon the lease provisions.
We will work on an incentivised fee basis with payment only due if we have made savings on your behalf.
Commercial rates can represent a significant proportion of real estate occupancy costs. Financial savings can be secured by having an understanding and awareness of where the opportunities exist to reduce liabilities e.g. Material Change of Circumstances, empty property relief or merging/splitting assessments.
We can help you with this process and will not charge unless we can achieve a level of saving on your behalf.
There are different ways to reduce the property costs associated with occupancy. There is scope to challenge service charges without lowering the quality of service. However, identifying potential opportunities is not easy. It requires an understanding and ability to analyse service charge accounts, challenge expenditure and exploit poorly drafted lease clauses.
Tenants may also reduce the amount of space they use through better use of such accommodation. For example, there is the possibility for retailers to hand back vacant upper floors, especially in areas where residential interest is high.
Altore are able to advise on the creation of enhanced value by unlocking capital tied up within a real estate portfolio. This can be achieved through structured sale and leasebacks, creating a joint venture vehicle or introducing an operating company/ property company structure.
We can provide specialist services to advise on Capital Allowances, architectural needs and taxation issues where required.