215,000 sq ft
The portfolio is geographically spread around the UK with half located in Scotland and the remainder in England. It’s primary purpose is to generate a sustainable income stream for Buccleuch Living Heritage Trust to reinvest into the maintenance of historic buildings and chattels which are available for the public to view. Our focus has therefore been to keep voids to a minimum, whilst driving rental growth and monitoring non-recoverable expenditure.
Buccleuch Property has asset managed the portfolio for over a decade in which time the investment strategy adopted an industrial focus which has resulted in strong capital value appreciation, low vacancy rates and rental growth to produce an attractive income yield.
£18million
value
£1.5m
contracted rent
92%
occupied
10%
yield on cost
70
tenants
9
properties
2.165m sq ft
In 2015 Buccleuch were appointed as Asset Managers for an offshore owned portfolio comprising 13 properties located in South Yorkshire, West Midlands and Gloucester. The portfolio was established in 2003 and the main drivers for the owners are to keep voids to a minimum, drive rental levels where possible and to ensure the portfolio remains well maintained and compliant with current and emerging legislation.
Our role involves monitoring rent collection, appointing and monitoring the performance of letting agents, recommending Capital Expenditure projects where this demonstrates a benefit to the portfolio or can enhance rental income, dealing with lease expiries and dilapidations and undertaking tenant re-gear and lease renewal opportunities. We also provide Service Charge budgets each year for the multi-let properties and have close co-ordination with insurance brokers to ensure the properties are adequately insured and that any perceived risks are mitigated. Portfolio records are diligently maintained and regular reports are issued to the owners to ensure that they can track portfolio performance.
£100 million
approximate value
£8.53m
contracted rent per annum
97%
of properties are let
157 tenants
117 of which are at Thorncliffe Park, Sheffield
32%
of contracted rent across the portfolio is at Thorncliffe Park, Sheffield
Top 20
tenants across portfolio comprise 68% of the passing rent
