- we know what works
Chelsea Green
With 30 shop units, including cafés, restaurants, general stores and retail outlets in Chelsea Green to manage, our client has exacting standards when it comes to property management. Following a review of their property management service, they decided that these standards were not being met and terminated their existing and appointed Grange in April 2008.
Grange immediately set about compiling an asset management strategy to increase their rental income and investment value and identified a development opportunity to extend the rear of the shops, increasing the floor area of the larger units by up to 50%. Eager to pursue this opportunity, our client asked us to work closely with the architects to develop a plan to increase units and submit a planning application.
As part of this process, Grange has negotiated lease renewals with tenants to include development options and plan to roll out the extensions over a seven-year period.
Not only will the project be fully funded by the existing rental income, but by increasing the size of the units, our client will more likely to attract higher end retailers. This will enable our client to retain a village atmosphere, increase footfall and attract more customers from outside the immediate area.
