Co-operative Group Ltd back to Case Studies

Non-Trading Commercial and Onerous Leasehold Portfolios Scotland

Graham + Sibbald's Property Managemet Department have been managing the Non-Trading Commercial and Onerous Leasehold portfolio’s for Co-operative Group since 2003, and were successfully reappointed in January 2012 for a further three year contract duration.

This portfolio comprises circa 250 property units at locations throughout Scotland.

The range of properties includes single retail units, shopping centres, large industrial distribution warehouses, offices and development sites.

The duties carried out by Graham + Sibbald in respect of this contract include:-

-    Rent collection and debt control
-    Management of accounts including service charge, insurance, repairs charge recovery
-    Property inspections and repairs/maintenance
-    Health & Safety management and advice
-    Rent reviews and lease renewals
-    Building Surveying services, as instructed

Property examples:-

Abbeygate Shopping Centre, Arbroath
Graham + Sibbald have been acting as Managing Agents in respect of Abbeygate Shopping Centre since 2008 when the property was acquired by Co-operative Group from Lothian & Borders Co-operative Society.  The shopping centre comprises circa 45,000 sq ft of retail space, including occupiers such as Subway, Brighthouse, Burtons/Dorothy Perkins, Home Bargains and Poundland, together with a Co-operative trading foodstore.  The annual rent role is circa £600,000.  Graham + Sibbald manage the individual tenant leases and common parts of the centre with an annual service charge of £160,000.
 

Distribution Warehouse, Pitreavie Crescent, Dunfermline
This property comprises industrial warehouse space of 260,000 sq ft.  The property became surplus to Co-operative Group trading requirements following the acquisition of Somerfield.  Graham + Sibbald’s management duties in relation to these premises include:-

- Placing contracts for Central Services such as security, fire alarms, intruder alarms, landscaping

Department:

Commercial

Partners: