Could You Manage Your Redundant Assets Better?
Having redundant commercial property or structures on your hands can prove expensive, when they should be assets. We can help you improve the value and cost base of your redundant commercial assets with a strategy designed to do just this.
Why Are Redundant Assets Costly?
As an owner or occupier of an empty industrial premises you are unlikely to be entitled to relief from business rates.
Insurance premiums are generally much higher for vacant premises.
Utilities providers are reluctant to offer fixed supply charges or other deals to empty properties.
Being associated with long-standing vacant commercial premises can have a negative impact on the reputations of site owners or occupiers.
Why Have a Redundant Asset Management Strategy?
- Mitigate your annual financial liabilities.
- Limit your legal liabilities.
- Improve the opportunities for your site to come back into commercial use.
- Reduce the potential for crime, vandalism and other anti-social behaviour.
Connell Brothers can offer you professional advice and practical support to help you create and maintain a redundant asset management strategy.
Here is an example of what we can do for you:
Case Study – Industrial Site, East Manchester
We performed a key role in eliminating virtually all the financial liabilities associated with a redundant chemical processing plant in East Manchester. For almost two years the premises had been in a de-commissioned state. The site owners were paying significant, annual property-related costs for business rates, security, insurance, and utility and systems charges. These costs came to over £270, 000 in total.
We worked with the site owners and their professional advisers.
We removed the redundant plant and buildings – putting the site in a much better position for a higher value future use.
The total cost of this project was around £140,000, but the annual savings resulting from the project were over £270,000.
We helped remove much of its ongoing financial liability while it was in its redundant state, and as a result its value increased as an asset for future use.
If you’ve got redundant commercial assets and they’re costing you by just being there, contact Connell Brothers today – we can help you manage your redundant assets, make savings, and prepare for the future.