IAS37 Single Property Assessment
Client:
Financial Services
Brief:
To undertake a review of the provision of a surplus leasehold liability property.
Services requested
> Review the provision that client had made on a large complex surplus property.
> To identify any issues that need to be addressed.
Break Clause Management
Client:
Surplus property solutions provider
Brief:
To monitor the sub-tenant’s break clause and determine whether the break had been properly exercised.
Services requested
> Review the lease and compliance issues for the break.
> Monitor the sub-tenant’s works.
> Act as project manager on the case.
Strategic Review and Acquisition
Client:
Charity
Brief:
Instigate search for new offices in Central London
Services requested
> Commence search for space
> Work with solicitors to document
> Start of project to operating in the building 5 months
Portfolio Strategy and Lease Restructuring
Client:
Private Equity backed software firm
Brief:
To review the property portfolio and produce a strategy for the business for the next five years in respect of their property occupation
Services requested
Provide a report on options for the business with regards to the portfolio
Lease Restructure
Client:
Food retailer
Brief:
To manage out and dispose of a long leasehold liability part vacant and part sublet to two poor covenants.
Services Requested:
The property had over 50 years remaining at a full rack rent, with sub-leases expiring in two years.
Long Leasehold Liability Disposal
Client:
Food retailer
Brief:
To mitigate cost and risk of a long leasehold property, which was over-rented and in poor condition.
Service requested:
To manage out the liability of a property with a failing tenant.
Surplus Leasehold Liability Disposal
Client:
Financial Services firm
Brief:
To dispose of a surplus leasehold property which comprised ground, first and second floors.
Services requested:
To mitigate risk and minimise cost of surplus retail property in Newcastle with five years remaining.
The British Property Federation
The British Property Federation have commented on the governments announcement on no relief for vacant properties being refurbished (www.costar.co.uk/en/assets/news/2013/September/Government-denies-rates-relief/). It is a missed opportunity to assist landlords and...
FT.com coverage
FT.com coverage – CORE have been working in association with Henley Business School on research in to the Surplus Lease problem for British Business. The Financial Times have provided initial coverage of the work, undertaken in association with our client, Surplus...
The new Exposure Draft on Leases
The new Exposure Draft on Leases by the International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) (www.ifrs.org/Current-Projects/IASB-Projects/Leases/Exposure-Draft-May-2013/Pages/ED-and-comment-letters.aspx) was issued in May...
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