Retail & Leisure Park. OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks
|
|
- Cordelia Garrett
- 6 years ago
- Views:
Transcription
1 Retail & Leisure Park OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks
2 2 Retail & Leisure Park OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks Foreword In this challenging market, occupiers of Retail and Leisure Parks require landlords to provide clean, safe, well managed and environmentally efficient estates to carry forward their businesses in a sustainable way. Owners of property are meeting these challenges by providing detailed operational plans via transparent service charge budgets and reconciliations. With this in mind, I am delighted to be asked to write the foreword to this year s Retail and Leisure Park OSCAR. In this the eleventh year of publication, Retail and Leisure Park OSCAR is recognised as the leading benchmark of data for both budgets and reconciliations throughout the United Kingdom and has become an invaluable reference point for the industry. Matt Jarvis MRICS Fund Manager Legal & General Property I hope you find the information contained within this report of interest and a useful tool in assessing service charge costs. I would like to acknowledge the considerable amount of assistance provided by BDO in the analysis of the data. On behalf of JLL, I would also like to thank the many contributors who have provided their service charge information.
3 3 Contents Introduction 4 Executive summary - Retail Parks 5 Executive summary - Leisure Parks 6 Data Contributors include Standard Life Investments, Aviva Investors, British Land, B&Q, LaSalle, Henderson Global Investors, Gallagher Developments, Land Securities, Hammerson, Legal & General, SWIP. The Retail Park database 7 Average service charges 2013 and budgets Service charges dependent on size 11 Trend analysis Service charges 2014 by location, size and park classification 14 Budgets 2014 by location, size and park classification 17 Leisure Parks 20 Definition of terms 22 Geographical areas 23
4 4 Retail & Leisure Park OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks Introduction We are pleased to publish this the third edition of Retail and Leisure Park OSCAR. Following eight years of Retail Park OSCAR this represents the most extensive survey of service charges for multi-let Retail Parks and Leisure Parks throughout the United Kingdom. The survey this year covers 208 Parks which represents a 7.8% increase in the sample size over the previous year and accounts for approximately 15% of multilet Retail Parks across the UK. Retail & Leisure Park OSCAR 2014 provides research on 2013 reconciled service charge costs and 2014 service charge budgets. Following requests from clients and occupiers we have presented both the overall data and matched data which compares Parks which we included in last year s edition. We have continued the guide benchmarks for both reconciled service charges and budgets on Retail Parks with varying classifications, sizes and locations. Following positive comments for both occupiers and owners we have retained the research on smaller Retail Parks (under 50,000 sq ft). The analysis on Leisure Parks is by classification but not broken down by size and location because of the smaller number of Parks. We are particularly pleased to acknowledge the significant contribution made in the analysis of data by BDO and look forward to working with them in future years. We also wish to thank our contributors and their managing agents for providing the data on which this year s analysis is based.
5 5 Executive summary - Retail Parks The overall database for this research increased by 7.8% over last year and this edition covers 208 Parks, which now represent some 15% of multi-let Retail Parks (as identified by Trevor Woods Associates) in the United Kingdom. Data has been provided on 52 Bulky Goods Parks, 93 Retail Parks and 63 Shopping Parks covering reconciled service charges for 175 Parks and service charge budgets for 160 Parks reconciled Service Charges summary All Parks Bulky Goods Retail Shopping All Reconciled Service Charges for 2013 Across the full database are 1.03 per sq ft The effects of the economic environment on property managers operating Retail Parks continue to be reflected in the results for 2013 with: 2.9% reduction between the 2013 actual service charges and those for 2012 ( 1.06 per sq ft to 1.03 per sq ft) 6.8% overspend between the 2013 budgets and 2013 actual service charges However, in respect of Budgets for 2014 there is: A decrease of 10% from the 2013 Budgets ( 1.17 per sq ft to 1.05 per sq ft) A rise between 2013 actual service charges and 2014 Budgets of 4.9% On a like for like database (using the same properties for 2013 and 2012) are 0.99 per sq ft, 9% up from The average spend on Bulky Goods Parks is 0.60 per sq ft, on Retail Parks is 1.00 per sq ft and on Shopping Parks is 1.39 per sq ft In respect of the like for like properties the figures can be further analysed as follows: Management costs increased by 3% overall with Administration Costs covering site costs, audits and Health & Safety rising by 20% whilst Management Fees decreased by 5% Retail Parks under 50,000 sq ft have service charges 8% less ( 1.24 per sq ft) than those between 50,000 and 100,000 sq ft ( 1.25 per sq ft), although the data set was particularly low for shopping parks <50,000 sq ft thus potentially skewing this figure. Utilities have decreased by 1% following a 15.4% reduction in the previous year Soft Services remain the largest element at 58% of spend with an increase of 3% over the year. There is also a significant increase in the cost of promotions (111%), hard services (41%) and income (46%)
6 6 Retail & Leisure Park OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks 2014 Service Charge Budgets summary All Parks Bulky Goods Retail Shopping All Service Charge Budgets Are on average 1.08 per sq ft Management cost and management fees have increased by 5% and 9% respectively whilst administration costs and soft services have remained unchanged Utilities, cleaning/landscaping and security have decreased by 4%, 3% and 1% respectively Hard Services costs have increased by 14% in the year Income has increased by 61% Of this, Bulky Goods Parks average 0.66 per sq ft, retail parks are 0.87 per sq ft and shopping parks are 1.63 per sq ft In respect of the like for like budgets, the figures can be further analysed as follows: Executive summary - Leisure Parks Reconciled service charges for 2013 average 1.30 per sq ft, which represents a significant decrease over the previous year, where the average was 1.57 per sq ft 2014 service charge budgets averaged 1.43 per sq ft (a fall from 1.91 per sq ft for the previous years) On a like for like basis from 2013 to 2014 reconciled service charges fell from 2.14 per sq ft to 1.72 sq ft representing a 20% reduction, whilst budgeted costs fell from 1.81 to 1.40 representing a 23% decrease
7 7 The Retail Park database The total number of Retail Parks included in the analysis for this edition is 208, an increase in the database of circa 6% which represents around 15% of multi-let Retail Parks in the UK (Trevor Woods Associates). Total Database Class All Service Charge 2013 Budget 2014 Bulky Goods Retail The classification of the parks included in the research is: Reconciled Service Charges 2013 Class Total Spend Number of Parks Number of Units Area (Sq Ft) Bulky Goods 3,184, ,741,458 Retail 10,609, ,356,777 Shopping 10,344, ,377,124 Total 24,139, ,724 23,475,359 Shopping Total Reconciled Service Charges 2013 common with 2012 Common Databases Class All Service Charge Budget Service Charge 2012 Service Charge / / 2013 Budget 2013 Budget 2014 Bulky Goods Retail Shopping Total Class Total Spend Number of Parks Number of Units Area (Sq Ft Bulky Goods 1,852, ,097,491 Retail 7,866, ,885,816 Shopping 7,253, ,203,937 Total 16,972, ,128 16,187,244 Budgeted Service Charges 2014 Class Total Spend Number of Parks Number of Units Area (Sq Ft) Data is presented in imperial units with metric conversions, and this year s analysis is based on: Overall (all Retail Parks included in this research) a total floor area of 23.5 million sq ft Overall 1,724 units Reconciled Service Charges Retail Parks A total spend of 24.1 million in 2013 Service Charge Budgets Retail Parks A total budgeted spend of 24.7 million in 2014 Bulky Goods 4,643, ,421,788 Retail 7,377, ,909,699 Shopping 12,678, ,396,152 Total 24,700, ,658 22,727,639 Budgeted Service Charges 2014 common with 2013 Class Total Spend Number of Parks Number of Units Area (Sq Ft) Bulky Goods 1,490, ,259,522 Retail 5,060, ,828,325 Shopping 8,643, ,344,361 Total 15,195, ,036 14,432,208 Tenant user has been assessed for each Unit and this has been analysed to provide a classification for each Park (see Definition of terms)
8 8 Retail & Leisure Park OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks Average service charges 2013 and budgets 2014 Average Service Charges 2013 Average service charge rates Main Range Mid 50% Class Average Service Charge Rate 25% 75% Bulky Goods 0.67 per sq ft Retail 0.93 per sq ft Shopping 1.40 per sq ft Total 1.03 per sq ft Average service charge components by percentage across Parks common to each year are: Average Service Charge Components by % across Matched Parks Each Year In 2013 (comparing the service charges from the same Parks in each year) there was an increase of 9% from 2012 with an average of 0.99 per sq ft Rate/sq ft 2012 Rate/sq ft Management 12% % 0.12 Management Fee 8% % 0.08 The average service charge for Retail Parks has therefore fallen to 1.03 per sq ft from 1.06 per sq ft in the previous year. Reconciled Service Charges by Component Percentages The reconciled service charges have been analysed on individual service lines using the headings recommended in the RICS Code of Practice. Average service charge components by percentage across all Parks this year are: Administration 4% % 0.03 Utilities 7% % 0.07 Soft Services 58% % 0.56 Cleaning/Landscape 31% % 0.30 Security 27% % 0.26 Promotions 1% % 0.00 Hard Services 25% % 0.18 Income -3% % Total 100% % 0.90 Component Percentages 2013 Expenditure Rate per sq ft Management 17.3% 0.18 Management Fee 8.0% 0.08 Administration 9.3% 0.10 Utilities 7.3% 0.07 Soft Services 55.4% 0.57 Cleaning/Landscape 29.2% 0.30 Security 25.4% 0.26 Management Management Fees have remained static again this year following that for the previous year. Administration costs have increased this year which follows a small fall last year but only reflects a small proportion of the overall costs. Administration includes site management costs covering rates, insurance and site managers costs, audit fees and health & safety. Promotions 0.8% 0.01 Hard Services 23.9% 0.24 Income -4.0% Total 100% 1.03
9 9 Utilities The utilities costs have remained static between 2012 and This follows a slight reduction in the previous year. We believe there will be a continuing downward pressure on utility costs going forward. The average rate for each class based on the database of service charges in 2013 is: Main Range Mid 50% Landscape/Cleaning 25% 75% Average per space Rate Per Car Space Bulky Goods Retail Shopping All Class Bulky Goods Retail Shopping Average Rate 0.06 per sq ft 0.07 per sq ft 0.09 per sq ft Security - Comparing like for like Parks in 2012 and 2013 security costs increased by 3%. Security costs increase for all categories of Parks. The highest use of utilities remains in Shopping Parks as would be expected on a qualitative basis and equally the lowest utilities use is still with Bulky Goods Parks. Soft Services Landscape/Cleaning costs are static between 2012 and 2013 overall. The average rates are below: Security Class Average Rate Bulky Goods Retail Shopping Class Average Rate Bulky Goods 0.22 per sq ft Retail 0.30 per sq ft Shopping 0.34 per sq ft Landscape/Cleaning Rate Per Car Space This index is provided as a useful comparison of cleaning and landscaping costs measured against the number of car park spaces (as a rough measure of the extent of the external areas of a Retail Park). On the Parks where we have the number of car spaces the costs of cleaning and landscaping have been combined and then divided by the number of car spaces to show rates per car park space. Promotions A limited number of Parks have reported promotional expenditure again this year and this element remains a very unusual feature in Retail Park service charges representing only 1% of the total reported expenditure. Hard Services Repairs including exceptional expenditure have increased by 41% between 2012 and 2013 taking like for like Parks in each year. We have previously noted considerable volatility in repair costs and that they do not necessarily vary according to the qualitative effect of the class of Park, but as earlier research has shown are more strongly influenced by previous lack of repairs, lease responsibilities and improvements or refurbishments. While there is a wide range in the figures and rates that result, the figures are provided as a rough comparative on the landscaping and cleaning costs for Parks as follows:
10 10 Retail & Leisure Park OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks Repair Costs by Park Classification Income Class Average Rate Bulky Goods Retail Shopping Class Average Rate Bulky Goods Retail Shopping This supports the conclusion reached in previous editions that age alone is not the major determinant in this spend. Income Income in the form of bank interest on service charge funds or arising from commercialisation on parks is credited to service charges by a growing number of Landlords. These items have the effect of reducing service charges payable by tenants. Income in service charges has increased for the first time in three years with a 50% increase over the year. It remains the case that the level of income for some Parks is such that service charge average rates are being distorted.
11 11 Service charges dependent on size Last year we confirmed that there was a significant cost increase related to service charges for smaller Retail Parks and this year we have again undertaken that analysis. Set out below are the benchmark for Parks under 100,000 sq ft (as repeated in the later detailed benchmark tables), the analysis for Parks under 50,000 sq ft and the results for Parks over 50,000 sq ft and under 100,000 sq ft. Benchmark Average Average <50,000 sq ft 50,000 sq ft < Average < 100,000 sq ft < 100,000 sq ft Class psf psf psf Bulky Goods Retail Shopping All Average budget service charge components by percentage 2014 Budget Rate per sq ft Management 17.0% 0.18 Management Fee 8.7% 0.09 Administration 8.2% 0.09 Utilities 7.0% 0.08 Soft Services 56.8% 0.62 Cleaning/Landscape 30.0% 0.33 Security 25.1% 0.27 Promotions 1.7% 0.02 Hard Services 23.5% 0.26 Income -4.3% Total 100% 1.08 Parks under 50,000 sq ft are 0.8% less expensive than the benchmark for Parks under 100,000 sq ft compared to a 14.4% increase last year. Bulky Goods Parks under 50,000 sq ft are 20% more expensive, Retail Parks under 50,000 sq ft are 20.6% more expensive however Shopping Parks under 50,000 sq ft were considerably less expensive, although the data set was particularly low for Shopping Parks < 50,000 sq ft thus potentially skewing this figure. Service Charge Budgets 2014 The overall average service charge budget rate was 1.08 per sq ft for Retail Park OSCAR 2014 calculated from the total database. Budgets for the same Parks in each year (103) decreased by 2% from 1.03 in 2013 to 1.05 per sq ft for Average 2014 Budget Rates Main Range Mid 50% Class Average Service Charge Rate Average budgeted service charge components by percentage across Parks common to each year are as follows: Average Budgeted Service Charge Components by % across Matched Parks Each Year 2013 Rate/sq ft 2014 Rate/sq ft Management 17% % 0.17 Management Fee 9% % 0.08 Administration 8% % 0.09 Utilities 7% % 0.08 Soft Services 59% % 0.62 Cleaning/Landscape 31% % 0.34 Security 26% % 0.28 Promotions 1% % 0.00 Hard Services 22% % 0.20 Income -4% % Total 100% % 1.03 Bulky Goods Retail Shopping All
12 12 Retail & Leisure Park OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks 2014 Budget Components by Park Classification Bulky Goods Retail Shopping Service % Sqft Rate % Sqft Rate % Sqft Rate Management 19% % % 0.23 Management Fee 10% % % 0.11 Administration 9% % % 0.12 Utilities 8% % % 0.09 Soft Services 56% % % 0.83 Cleaning/Landscape 30% % % 0.38 Security 23% % % 0.43 Promotions 3% % % 0.03 Hard Services 24% % % 0.26 Income -6% % % Total 100% % % 1.35 Budgets between 2013 and 2014 decreased overall by 10% with each class showing varing increases Bulky Goods Parks by -8%, Retail Parks by -1 % and Shopping Parks by 5%. Comparison of reconciled service charge budget 2013 to budgeted service charge 2014 This section compares the Reconciled 2013 service charge figures with the Budgeted 2014 service charge figures for the same Parks to assess likely future variations in costs. Database Park Class Reconciled 2013 Budget 2014 Difference Common Overall % Common Bulky Goods % Common Retail % Common Shopping % Year on year comparisons Reconciled 2012 Service Charge with Reconciled Service Charge 2013 This analysis shows an increase between budgets and reconciled service charges in the same year overall of 5% and ranging from 8% for Retail Parks to 3% for Shopping Parks. Comparison Between Budget 2013 to Reconciled Service Charges 2013 Database Park Class Difference % Difference Common Overall % Common Bulky Goods % Common Retail % Common Shopping % Database Park Class Budget 2013 Actual 2013 Difference Common Overall % Common Bulky Goods % Common Retail % Common Shopping % Services charges reduced between 2012 and 2013 for all classes of parks by 1% and there were falls in each class varying from -3% for Shopping Parks, 9% for Retail Parks and -11% for Bulky Goods Parks Budget Comparison to 2013 Budget Overall there was a 1% increase from budgeted 2013 to actual 2013 expenditure with Bulky Goods Parks showing an increase of 4%, Retail Goods Parks showing a decrease of 2% and for Shopping Parks, an increase of 2%. Database Park Class Difference Common Overall % Common Bulky Goods % Common Retail % Common Shopping %
13 13 Trend analysis The records of service charges over the last 8 years have been analysed to provide an indicator to the likely progression of service costs on Retail Parks. We have taken as a measure of the annual changes over that period percentage increases reported each year on like for like datasets between each year. To these we have applied the retail prices index for all services as representative of the level of inflation. Rates per sq ft Retail Park OSCAR Headline Rates against RPI (all services) Reconciled Budgets RPI The graph highlights the progression of budgets since 2010 and probably illustrates attempts by property managers to retain the value of their service charges by trying to allow for inflation. The progression of reconciled service charges since 2010 seems to tell a very different story, that of continuing saving by property managers to minimise the impact on tenants in difficult economic conditions. This now means that service charges are at levels seen in 2006 notwithstanding the effects of inflation. The fall in reconciled service charges in 2013 was greater than we were expecting and equally the increase in the 2014 budgets was higher than we had predicted as property managers appear to be recognising that service charges cannot keep reducing. With increasing optimism being expressed in the recovery of the economy over the last couple of months it is likely that the decline in reconciled service charges will be reversed for 2013/14 with small increases and budgets will at least continue to track or exceed inflation. The Index shows that the differential between budget and reconciled year end service charge costs, which was increasingly widening over the last three years has this year narrowed. However landlords are still, on average, ensuring there is a circa 10% under spend in actual expenditure against budget Year
14 14 Retail & Leisure Park OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks Service charges 2014 by location, size and park classification Analysis has taken the variants of size and location and applied these to service charge cost expenditure within the different classifications of Parks and overall to provide a simple benchmark. The usefulness of these results is very dependent upon the size of the individual database in each classification and the number of Parks in each group is shown in the table in brackets alongside the appropriate rate. Park Classification Size Service South North National Average Number of Parks Bulky Goods < Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income Number of Parks Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income Number of Parks > Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income
15 15 Park Classification Size Service South North National Average Number of Parks Retail Parks < Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income Number of Parks Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income Number of Parks > Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income
16 16 Retail & Leisure Park OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks Park Classification Size Service South North National Average Number of Parks Shopping Parks < Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income Number of Parks Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income Number of Parks > Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income Comment The highest rate was 1.75 per sq ft for Shopping Parks in the South, under 100,000 sq ft (the most expensive class last year was Shopping Parks in the South over 200,000 sq ft), while the lowest was 0.34 per sq ft for Bulky Goods Parks in the South between over 200,000 sq ft (last year it was Bulky Goods Parks between 100,000 sq ft and 200,000 sq ft in the South).
17 17 Budgets 2014 by location, size and park classification Analys is of this data has included the size, location and classification of Parks and applied these to budgeted service costs to provide a simple benchmark. The number of Parks in each category is shown in the table in brackets alongside the appropriate rate. Park Classification Size Service South North National Average Bulky Goods < Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income > < Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income > Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income
18 18 Retail & Leisure Park OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks Park Classification Size Service South North National Average Retail Parks < Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income > < Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income Retail Parks > Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income
19 19 Park Classification Size Service South North National Average Number of Parks Shopping Parks < Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income Number of Parks > < Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income Number of Parks Shopping Parks > Management Management Fee Administration Utilities Soft Services Cleaning/Landscape Security Promotions Hard Services Income Comments The highest rate was 1.97 per sq ft for Shopping Parks in the South under 100,000 sq ft (the most expensive class last year was Shopping Parks in the South over 200,000 sq ft), while the lowest was 0.45 per sq ft for Bulky Goods Parks in the South between 100,000 and 200,000 sq ft.
20 20 Retail & Leisure Park OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks Leisure Parks Leisure Parks Database The database contains 19 Leisure Parks, which represents around 9% of the Leisure Parks (as identified by Trevor Woods Associates) across the United Kingdom. Data has been provided by our contributors showing: A total spend of 3.5 million in 2013 A total budgeted spend of over 4.3 million in 2013 A total floor area of 3.2 million sq ft Overall a total of 220 units recorded across 19 Parks Reconciled service charges by component percentages The reconciled service charges have been analysed on individual service lines using the headings recommended in the RICS Code of Practice. Component Percentages 2013 Expenditure Rate per sq ft Management 14.1% 0.18 Management Fee 9.2% 0.12 Administration 4.8% 0.06 Utilities 8.5% 0.11 Average rates Reconciled Service Charges 2013 The average rate for all 2013 reconciled service charges across the Leisure Park database is 1.30 per sq ft and based on common Parks for each year is a 20.8% decrease on the previous year, but this is on a small dataset. Soft Services 59.4% 0.78 Cleaning/Landscape 20.7% 0.27 Security 37.8% 0.49 Promotions 0.9% 0.01 Hard Services 18.2% 0.24 Income -0.2% 0.00 Total 100% 1.30 Average service charge components by percentage across parks common to each year The reconciled service charges have been analysed on individual service lines using the headings recommended in the RICS Code of Practice Rate/sq ft 2012 Rate/sq ft Difference Management 9% % % Management Fee 8% % % Administration 2% % % Utilities 15% % % Soft Services 55% % % Cleaning/Landscape 23% % % Security 32% % % Promotions 0% - 0% - #DIV/0! Hard Services 20% % % Income 0% % % Total 100% % %
21 21 Budgets 2013 The average rate for 2014 budgets is 1.43 per sq ft. There was reduction of 23% from the 2013 budgeted service charges comparing common Parks in each year. Service charge budgets by component percentages The budgeted service charges have been analysed on individual service lines using the headings recommended in the RICS Code of Practice. Component Percentages 2014 Budget Rate per sq ft Management 15.0% 0.21 Management Fee 9.3% 0.13 Administration 5.7% 0.08 Utilities 6.5% 0.09 Average Budgeted Service Charge Components by % across Common Parks Each Year 2014 Rate/sq ft 2013 Rate/sq ft Difference Management 16% % % Management Fee 9% % % Administration 7% % % Utilities 6% % % Soft Services 54% % % Cleaning/Landscape 26% % % Security 28% % % Promotions 0% - 0% - 0% Hard Services 24% % % Income 0% % % Total 100% % % Soft Services 58.4% 0.83 Cleaning/Landscape 23.6% 0.34 Security 33.4% 0.48 Promotions 1.4% 0.02 Hard Services 21.2% 0.30 Income -1.1% Total 100% 1.43
22 22 Retail & Leisure Park OSCAR 2014 Service Charge Analysis for Retail Parks and Leisure Parks Definition of terms Types of Retail Parks: The research in earlier years has shown that planning user which is exhibited in the use of each retail unit, is the major determinant in the generation of footfall on Retail Parks and thereby the principal influence on running costs. Hence at one end of the scale a DIY unit will have a different level of footfall and require a different level of servicing than a fashion outlet. Analysis of the unit user information (tenant analysed as trading in Bulky Goods, fashion or retail ) on each Park has determined the dominant classification of that Park. Bulky Goods Parks (65%+ of unit users are in Bulky Goods ) and 48 Parks are in this classification Retail Parks (under 30% unit users in fashion and clothing and not above 65% of unit users in Bulky Goods ) and 99 are included Shopping Parks (30%+ of unit users are in fashion and clothing or usually found in high street locations, but not more than 65% in Bulky Goods ) with information from 46 included Size Bands These have been selected as follows Under 100,000 sq ft Over 100,000 sq ft but not more than 200,000 sq ft Over 200,000 sq ft OSCAR is an acronym for Office Service Charge Analysis Research. This analysis was commenced by JLL nearly 30 years ago covering initially only office service charges. This was joined by Retail OSCAR after a few years dealing with shopping centre service charges. The OSCAR name has been retained for Retail & Leisure Parks OSCAR. Data - The data on which Retail & Leisure Park OSCAR is compiled is from the service charge costs paid by occupiers to owners of Retail and Leisure Parks. The costs do not include direct costs borne by occupiers in relation to the maintenance, repair and use of their own demised unit. Information has been provided on both reconciled service charges and service charge Budgets. Reconciled Service Charges - The data for the reconciled Service Charge analysis is drawn from audited or certified Service Charge accounts with year ends falling within the 2013 calendar year. All costs are net of VAT. Service Charge Budgets - The data for Budget analysis comes from budgets issued to tenants with year ends falling within the 2014 calendar year. All costs are net of VAT. Cost-Rates - The cost-rates have been calculated by dividing the total Service Charge costs by the gross internal floor area of the retail units within the park. Expenditure Definitions Management Management Fee charged for the management of the Park Administration - Site supervision, Health & Safety compliance, auditing accounts and costs of any site staff. Data for this heading is provided in various headings from different contributors. The use of this summary heading while not referred to in the Code of Practice enables results to be shown in a consistent manner for comparison Utilities Costs of electricity, gas and water paid for by the Landlord Soft Services Landscape/Cleaning Cleaning and Landscaping. These two headings have been combined as they often overlap and some Operators will put spend under one heading and some in the other. We have sought to avoid this confusion by pulling the figures together Security Cost of security cover and security equipment Promotion Any promotional costs recovered via the service charges Hard Services Fabric, Drainage and M&E repairs and maintenance. This also includes exceptional expenditure Income Any income credited to the service charge usually from lettings or interest Insurance Insurance premiums have been excluded from this analysis as in a lot of Parks insurance costs are not included in service charges Exceptional Expenditure Within this publication this is included within hard services. These cost headings have been prepared to follow the RICS Code Of Practice Service Charges in Commercial Property.
23 23 Geographical areas Location The geographical areas have been chosen as follows; South London and South East, South, South West, Wales, Midlands and East Anglia North North (area north of Cheshire, Derbyshire, Nottinghamshire and Lincolnshire) Scotland and Northern Ireland This selection was adopted because of the lack of a major influence on cost of services for Retail Park OSCAR, of London and the South East, which is contrary to both Retail OSCAR and Office OSCAR service charge analysis. A straight North South divide has therefore been adopted as above Leisure Parks No geographical analysis has been undertaken on the leisure park data in this edition.
24 Contacts Property & Asset Management BDO Nigel Wheeler Chairman +44 (0) Nick Lees Lead Director +44 (0) Catherine Lambert Chairman Shopping Centre Management +44 (0) Duncan Ashman Partner Service Charge Accounting +44 (0) Ros Oxley Director Retail Management +44 (0) Lucy Oldham Director Retail Management +44 (0) JLL Office JLL 40 Bank Street Canary Wharf London E14 5EG +44 (0) jll.co.uk COPYRIGHT JLL, IP, INC All Rights Reserved. While every effort has been made to ensure accuracy and completeness, we cannot offer any warranty that factual errors may have occurred. JLL cannot accept any legal responsibility for any damage or loss suffered by reason of any inaccuracy or incorrectness concerning information and material in this report.
Research briefing. UK Retail Warehouse Sector. Savills Investment Management August Overview. UK economy. Retail warehouse market metrics
Savills Investment Management August 2016 Research briefing UK Retail Warehouse Sector Overview Healthy occupier demand and lack of supply, particularly in the form of new developments, has reduced retail
More informationREAL ESTATE ENVIRONMENTAL BENCHMARK UPDATE: 2017 ENERGY SNAPSHOT
REAL ESTATE ENVIRONMENTAL BENCHMARK UPDATE: 217 ENERGY SNAPSHOT In 217, BBP members submitted data on 683 properties, covering over 7.1 million m 2 of UK commercial real estate. This report provides a
More informationBentley Bridge Leisure Park
Bentley Bridge Leisure Park Service Charge Reconciliation 1 January 2014 31 March 2015 1 Service Charge Reconciliation Contents Executive Summary Independent Accountants Report Explanation of Variances
More informationARLA Survey of Residential Investment Landlords
Prepared for The Association of Residential Letting Agents ARLA Survey of Residential Investment Landlords March 2013 Prepared by O M Carey Jones 5 Henshaw Lane, Yeadon, Leeds, LS19 7RW March 2013 CONTENTS
More informationService Charge Expenditure Report Buckingham Gate, London. Cover - Text Anchor SHAPING THE FUTURE OF LONDON FOR GOOD
Service Charge Expenditure Report 2014-15, London Cover - Text Anchor SHAPING THE FUTURE OF LONDON FOR GOOD Content - Text Anchor Contents Land Securities 2 Welcome - Text Anchor Final Thoughts Welcome
More informationfor Residential Investment
THE ARLA REVIEW & INDEX for Residential Investment Third Quarter 2014 Third Quarter 2014 Compared with three months ago, the average weighted rental return for houses is up from 4.9% to 5.0%, partially
More informationAsda Income Tracker. Report: December 2015 Released: January Centre for Economics and Business Research ltd
Asda Income Tracker Report: December 2015 Released: January 2016 M a k i n g B u s i n e s s S e n s e Centre for Economics and Business Research ltd Unit 1, 4 Bath Street, London EC1V 9DX t 020 7324 2850
More informationTRADE UNION MEMBERSHIP Statistical Bulletin
TRADE UNION MEMBERSHIP 2016 Statistical Bulletin May 2017 Contents Introduction 3 Key findings 5 1. Long Term and Recent Trends 6 2. Private and Public Sectors 13 3. Personal and job characteristics 16
More informationSurvey of Residential Landlords
Survey of Residential Landlords Fourth Quarter 2014 REPORT O M Carey Jones 5 Henshaw Lane, Yeadon, Leeds, LS19 7RW Telephone: 0113 250 6411 CONTENTS Page 1. INTRODUCTION & BACKGROUND 4 2. METHODOLOGY 5
More informationARLA Survey of Residential Investment Landlords
Prepared for The Association of Residential Letting Agents ARLA Survey of Residential Investment Landlords June 2012 Prepared by O M Carey Jones 5 Henshaw Lane, Yeadon, Leeds, LS19 7RW June 2012 CONTENTS
More informationTeam Valley, Gateshead
Team Valley, Gateshead Service Charge Reconciliation 01 April 2014 31 March 2015 Service Charge Reconciliation Contents Executive Summary Service Charge Variance Summary Property Cost Summary Explanation
More informationUK Property Market London & South East October 2009
UK Property Market London & South East October 2009 Current Market Conditions The optimism we expressed in our last report dated August 2009 has been confirmed with a return to modest capital growth across
More informationHousing market recovery pushes stamp duty revenues to record high
FOR IMMEDIATE RELEASE Housing market recovery pushes stamp duty revenues to record high Stamp duty revenues raised on residential properties are projected to have risen by over 20% in 2014/15 to a record
More informationService Charge Expenditure Report Strand. London
Service Charge Expenditure Report 32-50 Strand London 2017-18 Meet Landsec Anchor Text - Meet Landsec Our people, our places, our expertise everything is experience Ann-Marie Khan, Operations Director
More informationMarket trend analysis. Issue 2 March 2018
Market trend analysis Link Asset Services Welcome to the second issue of the Market Trend Analysis from Link Asset Services. This year we analyse the visible market trends through our datasets across the
More informationService Charge Expenditure Report O2 Centre
Finchley Road Land Securities, meet Landsec Our new brand isn t just a new name and logo, it s founded on a brand idea and a philosophy that moves us on from the idea of placemaking into a focus on customers
More informationBusiness RATES Advice. For Property Owners
Business RATES Advice For Property Owners KEY CONTACTs London, Birmingham, South England & Wales Keith Cooney T +44 20 7861 1111 keith.cooney@knightfrank.com North West Martin Howard T +44 161 838 7751
More informationUK Television Production Survey
UK Television Production Survey Financial Census 2017 September 2017 A report by Oliver & Ohlbaum Associates Ltd for Pact Contents 1. Summary 2. Revenue growth 3. UK commissioning trends 4. International
More informationUK Monthly Commentary Valuation Advisory
UK Monthly Commentary Valuation Advisory June 2018 UK Commentary Finance US Federal Reserve rate at 1.75%. UK Base Rate at 0.50%, further increases expected. 5-Year Swap Rate 1.25% (Beginning May 1.33%).
More informationService Charge Expenditure Report Palace Street
London Land Securities, meet Landsec Our new brand isn t just a new name and logo, it s founded on a brand idea and a philosophy that moves us on from the idea of placemaking into a focus on customers
More informationAsda Income Tracker. Report: December 2011 Released: January Centre for Economics and Business Research ltd
Asda Income Tracker Report: December 2011 Released: January 2012 M a k i n g B u s i n e s s S e n s e Centre for Economics and Business Research ltd Unit 1, 4 Bath Street, London EC1V 9DX t 020 7324 2850
More informationAsda Income Tracker. Report: June 2012 Released: July Centre for Economics and Business Research ltd
Asda Income Tracker Report: June 2012 Released: July 2012 M a k i n g B u s i n e s s S e n s e Centre for Economics and Business Research ltd Unit 1, 4 Bath Street, London EC1V 9DX t 020 7324 2850 w www.cebr.com
More informationBritish Land: Economic Contribution Methodology overview
www.pwc.com British Land: Economic Contribution 2011-2012 Methodology overview Contents Introduction...3 British Land s Direct, Indirect & Induced Impacts (map)...5 British Land s Own Economic Impact -
More informationThe ARLA Review & Index. for Residential Investment
The ARLA Review & Index for Residential Investment Third Quarter 2012 Third Quarter 2012 Compared with three months ago, the average weighted rental return for houses is up from 5.1% to 5.2%. The average
More informationService Charge Booklet Parrs Wood Entertainment Centre, Manchester. Cover - Text Anchor SHAPING THE FUTURE FOR GOOD
Parrs Wood Entertainment Centre, Manchester Cover - Text Anchor SHAPING THE FUTURE FOR GOOD Content - Text Anchor Contents * The appendices document is formed of a separate document and is available in
More information21 October Highlights during the quarter included:
21 October 2015 Picton (LSE: PCTN), the income focused property investment company, announces its Net Asset Value for the quarter ended 30 September 2015 and Interim Dividend. Highlights during the quarter
More informationAVIVA INVESTORS UK INDUSTRIAL PROPERTY A SAFE HAVEN? by Tom Goodwin
This document is for professional clients, financial advisers and institutional or qualified investors only. Not to be distributed, or relied on by retail clients. AVIVA INVESTORS UK INDUSTRIAL PROPERTY
More informationPoverty figures for London: 2010/11 Intelligence Update
Poverty figures for London: 2010/11 Intelligence Update 11-2012 Key points The number of Londoners living in poverty has seen little change. Children, particularly those in workless households, remain
More informationMarket Monitor Q UK EQUITY RELEASE
UK EQUITY RELEASE Market Monitor Q3 2014 EMBARGOED UNTIL 00:01 WEDNESDAY 12TH NOVEMBER 2014 Key Retirement, Baines House, 4 Midgery Court, Fulwood, Preston PR2 9ZH 02 03 04 05 06 08 Contents INTRODUCTION
More informationReport on the Findings of the Information Commissioner s Office Annual Track Individuals. Final Report
Report on the Findings of the Information Commissioner s Office Annual Track 2009 Individuals Final Report December 2009 Contents Page Foreword...3 1.0. Introduction...4 2.0 Research Aims and Objectives...4
More informationPensioners Incomes Series: An analysis of trends in Pensioner Incomes: 1994/ /16
Pensioners Incomes Series: An analysis of trends in Pensioner Incomes: 1994/95-215/16 Annual Financial year 215/16 Published: 16 March 217 United Kingdom This report examines how much money pensioners
More informationAsda Income Tracker. Report: March 2013 Released: April Centre for Economics and Business Research ltd
Asda Income Tracker Report: March 2013 Released: April 2013 M a k i n g B u s i n e s s S e n s e Centre for Economics and Business Research ltd Unit 1, 4 Bath Street, London EC1V 9DX t 020 7324 2850 w
More informationPatterns of Pay: results of the Annual Survey of Hours and Earnings
Patterns of Pay: results of the Annual Survey of Hours and Earnings 1997-2007 By Hywel Daniels, Employment, Earnings and Innovation Division, Office for National Statistics Key points In April 2007 median
More informationMarket Monitor. Quarter
UK Equity Release Market Monitor Quarter 3 2017 Embargoed until 00:01 Wednesday 29th November 2017 Key Retirement, Baines House, 4 Midgery Court, Fulwood, Preston PR2 9ZH All images contained within this
More informationService Charge Booklet St David s Shopping Centre. Cover - Text Anchor SHAPING THE FUTURE FOR GOOD
Service Charge Booklet 2016-17 St David s Shopping Centre Cover - Text Anchor SHAPING THE FUTURE FOR GOOD Content - Text Anchor Contents * The appendices document is formed of a separate document and is
More informationAt Retirement Report. Edition Three, January
At Retirement Report Edition Three, January 2015 www.iress.co.uk Contents Foreword 2 Executive summary 3 A sea change for at retirement 4 Falling rates undermine annuity income 5 An incentive to shop around
More informationWhittard, D. (2007) South west labour market review. South West Observatory.
Whittard, D. (2007) South west labour market review. South West Observatory. We recommend you cite the published version. The publisher s URL is http://eprints.uwe.ac.uk/20024/ Refereed: Yes (no note)
More informationUK Trade in Numbers. February 2019
UK Trade in Numbers February 2019 Disclaimer The figures used in this pocketbook are the latest at the time of publication. We include figures from monthly and quarterly publications, such as ONS Balance
More informationCivil Service Statistics 2009: A focus on gross annual earnings
Economic & Labour Market Review Vol 4 No 4 April 10 ARTICLE David Matthews and Andrew Taylor Civil Service Statistics 09: A focus on gross annual earnings SUMMARY This article presents a summary of annual
More informationPADDINGTON CENTRAL 5 JULY
PADDINGTON CENTRAL 5 JULY 2013 www.britishland.com Disclaimer This presentation may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty
More informationAsda Income Tracker. Report: September 2015 Released: October Centre for Economics and Business Research ltd
Asda Income Tracker Report: September 2015 Released: October 2015 M a k i n g B u s i n e s s S e n s e Centre for Economics and Business Research ltd Unit 1, 4 Bath Street, London EC1V 9DX t 020 7324
More informationStagnant homemovers market impacts first time buyers
NOT FOR BROADCAST OR PUBLICATION BEFORE 00.01 HRS MONDAY 21 ST AUGUST 2017 The Lloyds Bank Homemover Review tracks conditions for those who already own a home. The review is based on data from the Lloyds
More informationLuxembourg Office Market
Research Report Luxembourg Office Market Q3 2017 - 2 - Research Report Luxembourg Office Market Q3 2017 Occupier market A quieter Q3 due to lower deal size We recorded a lower than usual transaction flow
More informationAsda Income Tracker. Report: March 2012 Released: April Centre for Economics and Business Research ltd
Asda Income Tracker Report: March 2012 Released: April 2012 M a k i n g B u s i n e s s S e n s e Centre for Economics and Business Research ltd Unit 1, 4 Bath Street, London EC1V 9DX t 020 7324 2850 w
More informationInterest Rates, Cap Rates, and the Real Estate Cycle
Interest Rates, Cap Rates, and the Real Estate Cycle Stephen Hester, Chief Executive We are real estate investors and create value by actively managing, financing and developing prime commercial property
More informationTHE AUDIT OF DEFINED BENEFIT PENSION OBLIGATIONS
Financial Reporting Council THE AUDIT OF DEFINED BENEFIT PENSION OBLIGATIONS FINDINGS FROM 2017/18 AUDIT QUALITY REVIEWS JULY 2018 The FRC s mission is to promote transparency and integrity in business.
More informationInvestment Property Forum UK Consensus Forecasts
Research Programme Investment Property Forum UK Consensus Forecasts SUMMER 2018 COMMISSIONED BY THE IPF RESEARCH PROGRAMME UK Consensus Forecasts This research was funded and commissioned through the IPF
More informationMUTUal INTEREST WE RE NEW HERE S THE PLAN. changing When? Why? How? WEBSITE is now live! OFFER. Member Referral
MUTUal INTEREST Spring 2012 Income Protection Application Pack HERE S THE PLAN Keyfacts Our initial disclosure document about our services and how we are regulated Key Features The main aspects of our
More information76-78 King Street, St Helier, Jersey JE2 3RP
To Let - Prime Retail Shop 76-78 King Street, St Helier, Jersey JE2 3RP 2 Ground Floor of circa 3,877 sq.ft. (360.31 m ) Summary Rare opportunity to acquire a prime King Street retail unit with large floor
More informationAt Retirement Report. Edition Two, November
At Retirement Report Edition Two, November 2014 www.iress.co.uk Contents Foreword 2 Executive Summary 3 Product Demand 4 Outcomes for Annuitants 5 Advice at Retirement 7 The Regional Picture 8 Product
More informationSocial Housing Financial State of the Sector FY16/17
Social Housing Financial State of the Sector FY16/17 Presenting the definitive headline financial results from the Vantage Global Accounts Plus analysis. October 2017 yourvantage.co.uk Contents Introduction
More information12 Months to 31 March 2012
For professional investors only. Not suitable for retail clients. Schroder Exempt Property Unit Trust UK Property Market Review The past year has proven challenging for the high street, and this became
More informationService Charge Booklet Buckingham Gate. Cover - Text Anchor SHAPING THE FUTURE OF LONDON FOR GOOD
Service Charge Booklet 2017-18 Cover - Text Anchor SHAPING THE FUTURE OF LONDON FOR GOOD Content - Text Anchor Contents * The appendices are formed of a separate booklet which is available in the supporting
More informationBPF response to the RICS Professional Standards and Guidance document on the Commercial Service Charge Code
Prepared by: Raja Hanna, rhanna@bpf.org.uk 6 th December 2017 British Property Federation 1. The BPF represents the commercial real estate sector an industry with a market value of 1,662bn and which contributed
More informationNERI Research inbrief
September 2017 (no49) Public Expenditure and Investment in Northern Ireland Paul Mac Flynn ISSN 2009-5848 SUMMARY Northern Ireland along with the rest of the United Kingdom has seen substantial reductions
More informationINVESTMENT & ASSET MANAGEMENT
INVESTMENT & ASSET MANAGEMENT BUC C LE UC H I N T R O D U C T I O N INVESTMENT & ASSET MANAGEMENT SERVICES BUCCLEU CH PR O PER TY offer comprehensive asset management services for our clients drawing on
More informationVINE. Property & Portfolio Management Services
Property & Portfolio Management Services Vine provides dedicated services through a network of ten UK regional offices, supported by an accounts and credit control team based in Birmingham. We currently
More information16 & 16A HIGH STREET THAME OXFORDSHIRE OX9 2BZ
16 & 16A HIGH STREET THAME OXFORDSHIRE OX9 2BZ T O W N C E N T R E M I X E D - U S E I N V E S T M E N T F I E L D S C O M M E R C I A L Town Centre Investment Property Comprising Retail Unit & Dental
More informationResidential Auction Property Investment Data February 2012
What is RAPID? RAPID stands for Residential Auction Property Investment Data. It is a joint venture between Allsop, a leading property consultancy and the UK's largest property auction house, and the Essential
More informationPREMIUM DRIVERS REPORT
PREMIUM DRIVERS REPORT DECEMBER 2016 Your quarterly motor insurance savings index Introduction 2016 has seen soaring premiums for British drivers. The eleventh iteration of comparethemarket.com s Premium
More informationMarket Monitor saturday, 10th may 2014
UK Equity Release Market Monitor quarter 1 2014 embargoed until 00:01 saturday, 10th may 2014 Key Retirement Solutions, 4 Baines House, Midgery Court, Fulwood, Preston PR2 9ZH. Contents 02 Introduction
More informationCivil Service Statistics 2008: a focus on gross annual earnings
FEATURE David Matthews and Andrew Taylor Civil Service Statistics 2008: a focus on gross annual earnings SUMMARY This article presents a summary of annual Civil Service statistics for the year ending 31
More informationSelf-directed support
Self-directed support Disabled Facilities Grants DFGs Just because someone is disabled doesn t mean they have to leave their own home. Many people make changes and adaptations. Some might pay for the changes.
More informationAsda Income Tracker. Report: December 2012 Released: January Centre for Economics and Business Research ltd
Asda Income Tracker Report: December 2012 Released: January 2013 M a k i n g B u s i n e s s S e n s e Centre for Economics and Business Research ltd Unit 1, 4 Bath Street, London EC1V 9DX t 020 7324 2850
More informationLondon company market. Statistics Report. October 2017
London company market Statistics Report October 2017 Executive summary The London company market s gross premium income for 2016 was 16.034bn. In addition, a further 6.691bn has been identified as written
More informationAdministrative and support service statistics - NACE Rev. 2
Administrative and support service statistics - NACE Rev. 2 Statistics Explained Data from May 2018 Planned article update: October 2019 This article presents an overview of statistics for the European
More informationMarket Monitor. Half Year UK Equity Release
UK Equity Release Market Monitor Half Year 2017 Embargoed until 12:00 Thursday 13th July 2017 Key Retirement, Baines House, 4 Midgery Court, Fulwood, Preston PR2 9ZH All images contained within this report
More informationA comprehensive view of the state of the residential rental market in South Africa Q JAN - MAR
A comprehensive view of the state of the residential rental market in South Africa JAN - MAR PayProp Rental Index Quarterly The current downward trend in the South African economy appears to be taking
More information6 OPERATIONAL AND STRUCTURAL ISSUES
THE INVESTMENT ASSOCIATION OPERATIONAL AND STRUCTURAL ISSUES KEY FINDINGS REVENUE AND COSTS >> Average industry net revenue grew around 2% in absolute terms. However, it fell as a proportion of total assets
More informationReport of the 2016 Salary Survey of the IP Profession
Report of the 2016 Salary Survey of the IP Profession Hosted by Fellows and Associates Sponsored by The Patent Lawyer Magazine Table of Contents 1. Introduction 2 2. The Sample 2 2.1. Location 2 2.2. Technical
More informationBBPA Local impact of the beer and pub sector 2010/11
Local impact of the beer and pub sector 2010/11 A report for the British Beer and Pub Association () Contents Executive summary... 1 The beer and pub sector provides significant benefits to the UK economy......
More informationStandard Life Investments Property Income Trust
Standard Life Investments Property Income Trust is a client of Kepler Trust Intelligence. Material produced by Kepler Trust Intelligence should be considered as factual information only and not an indication
More informationEconomic aspects of Scottish independence: public spending and revenue
Economic aspects of Scottish independence: public spending and revenue Standard Note: SN/EP/6625 Last updated: 24 January 2014 Author: Section Dominic Webb Economic Policy and Statistics Section Much of
More informationApproval levels fall back in February
Approval levels fall back in February - Mortgage approvals decline slightly between January and February - Growth in number of first-time buyers and small deposit mortgages - Northern Ireland has highest
More informationUK Television Production Survey Financial Census September 2016 A report by Oliver & Ohlbaum Associates Ltd for Pact
UK Television Production Survey Financial Census 2016 September 2016 A report by Oliver & Ohlbaum Associates Ltd for Pact Contents 1. Summary 2. Revenue growth 3. UK commissioning trends 4. International
More informationJLL Irish Property Index - Capital Values Q3 04 Q1 05 Q3 03 Q2 04 Q4 03 Q4 04 Q1 04
J44-A1-Document 1 Issues relating to the nature and functioning of the commercial real estate market in the period prior to 2008 in the context of the Banking Crisis in Ireland The size and nature of the
More informationConsumer Debt and Money Report Q making business sense
Consumer Debt and Money Report Q3 2012 3 making business sense Executive summary & commentary The StepChange Debt Charity Consumer Debt and Money Report Q3 2012 expands on previous reports to build a nuanced
More informationBasel Committee on Banking Supervision Second consultative document on Revisions to the Standardised Approach for credit risk
Basel Committee on Banking Supervision Second consultative document on Revisions to the Standardised Approach for credit risk A response by the Intermediary Mortgage Lenders Association, London, UK 4th
More informationDavid Cox, Chief Executive of ARLA Propertymark joined the Board in September 2017.
The Dispute Service launched in 2003 as a voluntary tenancy deposit scheme working with letting agents. TDS now operates statutory deposit schemes across the United Kingdom. TDS is owned by the key industry
More informationLCPq: London Central Portfolio Quarterly Review Prime Central London (PCL) Market Outlook Q2 2017
LCPq: London Central Portfolio Quarterly Review Prime Central London (PCL) Market Outlook Q2 2017 London Central Portfolio (LCP) specialises in Prime Central London (PCL) residential investment with a
More informationCity Exchange, Leeds. Service Charge Forecast 01 April March 2016
City Exchange, Leeds Service Charge Forecast 01 April 2015 31 March 2016 Gross Lettable Area 120,848 square feet Date opened 1977 Last refurbished 2005 Service Charge Booklet Contents: Executive Summary
More informationGuidance from the HCA Understanding unit costs is an increasingly important part of the HCA s assessment of VfM.
Key points: Value for Money (VfM) reporting is still of variable quality. VfM benchmarking is now common practice. More RPs now provide a return on assets and plans of how to deal with underperforming
More informationOil & Gas UK UKCS Workforce Demographics Report
Oil & Gas UK 27 UKCS Workforce Demographics Report Oil & Gas UK 27 UKCS Workforce Demographics Report Published August 28 2 nd Floor 232-242 Vauxhall Bridge Road London SW1V 1AU Tel: +44 ()2 782 24 Fax:
More informationINSIDE COMMERCIAL BRIDGING LOAN ( CBL )
INSIDE N O I T A M INFOR COMMERCIAL BRIDGING LOAN ( CBL ) Guidance Notes for Brokers for standard Commercial Bridging Loan proposals and others which may be considered on merit as Specials Alternative
More informationService Charge Expenditure Report Cambridge Leisure Park, Cambridge. Cover - Text Anchor SHAPING THE FUTURE FOR GOOD
Service Charge Expenditure Report 2015-16 Cambridge Leisure Park, Cambridge Cover - Text Anchor SHAPING THE FUTURE FOR GOOD Content - Text Anchor Contents Land Securities 2 Welcome - Text Anchor Final
More informationThe interim dividend of 5.3m will be paid on 28 June 2013 to holders registered on 31 May 2013.
Mucklow (A & J) Group plc Half-Yearly Report 20 February 2013 Embargoed: 7.00am Rupert Mucklow, Chairman commented: I am pleased to report steady progress being made during the first six months of our
More informationValue for Money Statement Year to 30 th September 2017
Value for Money Statement Year to 30 th September 2017 Introduction The Hyelm Group is committed to finding ways to provide excellent services whilst at the same time seeking to reduce costs and improve
More informationMarket Monitor Q UK Equity Release
UK Equity Release Market Monitor Q3 2016 Embargoed until 00:01 15th October 2016 Key Retirement, Baines House, 4 Midgery Court, Fulwood, Preston PR2 9ZH All images contained within this report can be provided
More informationUK Consensus Forecasts
Research Programme Investment Property Forum UK Consensus Forecasts MAY 2018 COMMISSIONED BY THE IPF RESEARCH PROGRAMME UK Consensus Forecasts This research was funded and commissioned through the IPF
More informationNottingham And Nottingham And. All People 2,178,000 4,724,400 63,785,900 Males 1,077,300 2,335,000 31,462,500 Females 1,100,700 2,389,400 32,323,500
Labour Market Profile - Derbyshire, Nottingham And Nottinghamshire The profile brings together data from several sources. Details about these and related terminology are given in the definitions section.
More informationMortgage market springs forward in May
Mortgage market springs forward in May - Strong growth in approvals compared to April - Small deposit buyers dominate Northern Ireland market - Increase in proportion of loans to these borrowers The UK
More informationOur occupiers* through their business activities in our properties. (in payroll taxes, business rates and corporation taxes only)
Our economic CONTRIBUTION INTRODUCTION We manage, finance and develop some of the UK s finest buildings. This report looks at the contribution we make to the UK economy, based on an analysis by PwC. We
More informationAlternative Performance Measures A Survey of their Use together with Key Recommendations: An Update
Alternative Performance Measures A Survey of their Use together with Key Recommendations: An Update January 2015 MISSION STATEMENT Our mission is to promote high quality financial reporting and effective
More informationMarket Monitor FULL YEAR REVIEW 2015 UK EQUITY RELEASE
UK EQUITY RELEASE Market Monitor FULL YEAR REVIEW 2015 EMBARGOED UNTIL 11:30 13TH JANUARY 2015 Key Retirement, Baines House, 4 Midgery Court, Fulwood, Preston PR2 9ZH All images contained within this report
More informationEvaluation of the dispersion of profitability within the comparator sets used in Annex 9 of Ofcom s pay TV phase three document
within the comparator sets used in Annex 9 of Ofcom s pay TV phase three document A report for British Sky Broadcasting Limited 16 September 2009 Final report [date] 1 Important Notice This report has
More informationUK EQUITY RELEASE Market Monitor
The equity release market is firmly established on a growth trend. Dean Mirfin, KRS Group Director UK EQUITY RELEASE Market Monitor HALF YEAR 2011 EMBARGOED UNTIL 13:00 HOURS 25TH JULY 2011 Key Retirement
More informationEuropean Investment Bulletin
European Investment Bulletin Spring 2009 Prime yield decompression per sector (yoy) Rents in decline in line with business sentiment 200 CBD offices Warehouses Shopping Centres European average prime office
More informationPaediatric Rota Gaps and Vacancies 2017
Paediatric Rota Gaps and Vacancies 2017 Findings of a survey carried out between January and April 2017 July 2017 Correspondence to: workforce@rcpch.ac.uk Executive summary This is the report of the seventh
More informationAIM DIRECTORS REMUNERATION REPORT
AIM DIRECTORS REMUNERATION REPORT ii AIM DIRECTORS REMUNERATION REPORT executive summary 1 ceo remuneration 2 cfo remuneration 6 OTHER EXECUTIVE DIRECTOR REMUNERATION NON-EXECUTIVE DIRECTOR REMUNERATION
More informationPlanned and Cyclical Maintenance Policy
M3 Planned and Cyclical Maintenance Policy Date of Approval Review Date August 2016 August 2019 Planned and Cyclical Maintenance 1. Policy Context The introduction of this new comprehensive policy on Planned
More information