We have been appointed on Belle Vale since HSBC purchased the scheme in September 2003. Years of under-investment had left the property with a backlog of repairs and one of our biggest challenges has been to develop a programme of works to redress them without overloading the service charge to the extent where it became unmanageable.

This has meant careful management of tenants’ expectations of service charge levels. Historically, service level charges had always remained low, but this had only served to create problems for the future. Whilst news of increasing service charges is rarely welcome, if the message behind it is clearly conveyed, the reasons are understood.

Over the last five years, working closely with external building surveying consultants, we have made great strides. Due to the nature and age of the building, the programme is likely to continue for some time. The key to its ongoing success is to sensibly prioritise works, phase their implementation, make prudent financial plans and control costs.

The landlord has also invested £1m to refurbish common parts and install a mall café. Working closely with centre management, we kept tenants informed and ensured there was minimum disruption to their trading. When problems did occur (as they always will) we were there to ensure they were dealt with as quickly and efficiently as possible.

HSBC subsequently appointed us to manage their shopping centres in Knowle and Ellesmere Port. In June 2006, HSBC sold all three properties to FREP Shopping Centre Fund Limited Partnership. We have been retained by FREP on all three schemes.

For further information contact Paul Harding.