Client: Daily Mail and General Trust
Gerald Eve has provided Daily Mail and General Trust with a mixture of agency and professional advice for over 50 years. What started with interests in national newspapers, the Trust is now one of the largest media companies in the UK, with related digital operations, local media, business and financial information, exhibitions and radio.
Much of this growth has been through acquisition, posing challenges for property management efficiencies and cost control. DGMT’s portfolio extends to c.100 properties, the majority of which are offices. Those ‘inherited’ properties inevitably include varying types of ownership, lease terms and business rate payments which need to be streamlined within the larger group. We work with our client to incorporate fixed rent increases in new and renewed leases based on the Consumer Price Index. Where appropriate, we also appeal business rates payments and in the last Revaluation, saved the company in excess of £1.5m.
Forward-planning for potential risks (both physical and financial) to the property portfolio is another significant consideration for media companies. In the event of a major event, our agents have recently looked at securing off-site disaster recovery space for the Trust, to ensure seamless business continuity.
|
|