“Martin’s drive, determination and commitment towards asset management is clearly demonstrated by his success with Holyrood Park House. Martin’s ability to deliver a fully let building in such a short space of time was a remarkable achievement, especially considering Edinburgh’s difficult market conditions.”
Martin Payne, Fund Manager
Henderson Global Investors
With its property at Edinburgh’s Holyrood Park House under-performing, Edgar Property Solutions successfully asset managed this for Henderson Global Investors to achieve 100% occupancy rate.
Challenges
Holyrood Park House, a modern 46,700 sq ft Grade A office building, located close to the Scottish Parliament, was experiencing a long term vacancy rate in excess of 50%. The Fund Manager needed to increase the occupancy levels, reduce the non-recoverable costs and ultimately increase the value of the investment.
Solutions
Edgar Property Solutions asset managed this property and delivered a 100% let building in 30 months. I achieved this by securing four open market lettings and a major lease restructure. I also created and added value for the Fund by increasing the total rental income by £352,000 per annum. To download occupancy diagram click here.
Extra Mile
I motivated the letting agents with a new marketing initiative to target occupiers in Leith – this delivered the desired result, with a let being secured. A deal with another new tenant rested on a specific bike rack being installed. I sourced this from Australia, resulting in the let being concluded.
