Mitch Avis

Within Fasset, I am accountable for the performance of the operational accounts covering mobilisation, active marketing and lettings revenue generation, FM service delivery, and programme management. ..

More about me

Langstone Technology Park

Tags: managed site, fasset model

The Task

Year 2000
500 kft2 of mixed office / manufacturing space
20% occupancy
Very high servicing costs
All services outsourced
3 offers for sale £20 - £21m

The Solution

Reduce servicing costs
Flexible occupancy
Pay for occupied space only
Upgrade building for sub letting

Service Provided

Create new property company
All vacant space and investment risk with new company
Offer fully serviced leases on flexible terms
Self perform all services

The Result

Year 2006
In excess of 90% occupancy
£20m invested in buildings > 20% IRR
Services 10% below market rate
95% of rent element of revenue sold for £54.2m
UK Science Park Status
£54m returned to shareholders in total

call us 023 9249 7500
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