eddisons residential residential management for recoveries

Download Eddisons Residential   Residential Management For Recoveries

Post on 06-Jul-2015

1.127 views

Category:

Documents

0 download

Embed Size (px)

DESCRIPTION

Specialist Residential Management Service Solution for Residential Investment Portfolios and newly completed Residential Development Schemes in Recovery.

TRANSCRIPT

  • 1.

2. Eddisons Residential

  • A solution-orientated approach to residential property assets in a challenging climate

3. The Resi Team

  • Graham Bates Director of Residential Strategy
  • Helen Peace Managing Director
  • Sarah Smith Head of Property Services
  • Anthony Spencer Director / LPA Receiver
  • Richard Roe - Director / LPA Receiver
  • Mark Downham - Director/LPA Receiver
  • A unique team with broad insight and experience

4. Current Projects

  • Liverpool
  • Sunderland
  • Manchester
  • Elland
  • Burton on Trent
  • Sutton Coldfield
  • Huddersfield
  • Hull
  • Poulton-le-Fylde
  • Cardiff
  • Leeds
  • Bradford
  • Ashton-under-Lyne
  • Loughborough

5. Challenging Situations

  • Unsold units developer may lack sales and marketing ability
  • Customer has unrealistic expectations of value
  • Interest Payments not being met
  • Mounting costs
  • Need to generate rental income
  • Already rented Voids / Arrears / Poor quality tenants
  • Poor locations / Poor quality stock
  • We are experienced in managing and
  • turning around difficult situations

6. Key Issues

  • Existing customer strategy failing
  • Rent roll not coming to Bank?
  • Accuracy of information provided?
  • Unrealistic pricing /timescales
  • Wrong agents acting for customer
  • Bank and customer objectives not aligned
  • Getting the Bank in control

7. Incomplete developme nts

  • Advice on the viability of completing sites still under construction including project management from Eddisons Building Surveying Team

8. Our Scope

  • In-house team advise on and manage all property and tenant types:
  • Apartments
  • Housing
  • Retirement
  • Student
  • Low grade
  • Executive housing
  • City and suburban

9. Initial Appraisal

  • Immediate High level view
  • Appraise property location, works required, quality of units, suitability for rental, etc
  • Prepare financial projections
  • Evaluate upside potential
  • Target market sales and rentals
  • What is not working?
  • Key recommendations

10. Core Services

  • Oversight Management role
  • Lettings and Property Management
  • Rent Collection and Financial Reporting
  • Residential Block Management
  • Sales and Marketing Strategy for Exit

11. Case Study Box Tree

  • Administrator appointed
  • Significant shortfall in realisable value over debt
  • Incomplete development of 26 units in Ashton-under-Lyne
  • Our role
  • Advice on configuration and final specification
  • Project management of works to completion
  • Financial projections to support retention strategy
  • Furnishing 26 units for rental market
  • Letting and Property management
  • Current position
  • 100% let
  • 152,000 pa gross income flow to offset holding costs
  • Significant increase in capital value 1m +
  • Possible sale to institutional investor
  • Appeal to owner occupier and individual investor market

12. Case Study Baltic Square

  • Eddisons appointed LPA Receiver
  • 15 vacant units in secondary location, Liverpool city centre
  • No management of services building deteriorating with health and safety issues
  • 2 units incomplete including Penthouse
  • Our role
  • Implement building management services and conduct health and safety check
  • Prepare units for rental furnished and unfurnished
  • Lettings and property management
  • Project manage completion of incomplete units
  • Advise on management company issues and liaise with other leaseholders for service charge contribution
  • Current position
  • Available units 100% let
  • 101,000pa gross income flow to offset holding costs
  • Quality of building vastly improved
  • Project managing completion of Penthouse

13. Case Study 26 Pall Mall

  • Incomplete development
  • 126 units in Liverpool City Centre
  • Contracted sales largely fallen away with little new sales demand
  • Difficult customer with unrealistic expectations
  • Our role
  • Project manage build out
  • Financial projections to support retention strategy and workout over 4 years
  • Establish new management company
  • Implement building management services
  • Develop marketing strategy for sales and rentals
  • Project manage furnishing
  • Lettings and property management on 40 units initially
  • Ensure bank is in control in advance of possible appointment

14. 26 Pall Mall

  • Where we are now?
  • In control of all building services including security, health and safety
  • 21 units sold
  • 40 available furnished units 100% let producing 276k pa gross income
  • 65 units remaining
  • Bank set to appoint Eddisons as LPA Receiver
  • Marketing strategy in place
  • Sales expected to remain slow - workout strategy over 3-4 years
  • Strong demand for further letting potential to create 655k pa gross income
  • In control of all aspects of development
  • seamless transition on appointment

15. 16. 17. Insolvency Appointments

  • Pre-Appointment
  • We can help put you in control
  • LPA Appointment
  • We have the ability to manage and control all aspects
  • in-house from appointment through exit

18.

Recommended

View more >