From an Investor’s point of view, Fasset provide something very different within the market place.  Rather than “sit back” and provide antiquated (let and forget) traditional FRI leases, Fasset has taken a pro-active view to take advantage of the growing market demand for businesses who want more flexible office space.  This is an excellent backdrop from which to provide a far stronger total property return for an investor.

The 2008 Occupier Satisfaction Survey suggests that a period of just less than 5.7 years is average to the first break opportunity in a lease. Additional research from RICS and DTZ has concluded the average lease length in the UK is dropping by approximately six months per annum.

The Fasset Model

On two of our sites ( Langstone (LTP) and Hersham (HPTP)  ) we have a dedicated sales and marketing team which is the key delivery point for Active Marketing.  This should in no way be confused with the approach taken by traditional Property Agents and FM companies.  Fasset provides a highly personalised, professional approach, keeping in contact with the customers – both during and after the closure of the lease agreement, thus ensuring that the customer is consistently satisfied with the service provided and become an exponent of the site.

Fasset helps to continually build the ‘brand’ and location.  Its marketing programmes stress a local emphasis, partnering with agents both regionally and nationally.  Marketing collateral is created along with market education via presentations, published papers and networking events.

In all cases, the company follows one of its core tenets, that of active management.  Its internal teams continually monitor customer relationships to reinforce that the support is there for the long-term.  Fasset can in many cases pre-empt their customers needs or market trends by being close to a customer at all times.

By also providing a wide range of directly delivered services from cleaning and housekeeping – to personalised reception and telephony, security services to fit-out project management – the occupancy levels have significantly grown.

Has it Worked?

In the case of Fasset’s first client in 2000, the site has now almost tripled in value, has had some £20 million invested in buildings, delivers services at 10% below market rate and has a consistent occupancy rate of over 90%.