Cropper & Co become involved in how their client companies work and how they wish to develop and progress. We take the view that the expansion of a client’s property portfolio, whether this comprises working premises, investment properties or their operating outlets, must be fully compatible with the intended growth of the business and must actively help them to achieve their business potential.
Businesses change over time, circumstances and markets change too and the buildings and properties that once worked well for a client may no longer be ideal. To maximise business effectiveness therefore, Asset Management is essential – this may involve re-structuring the client’s estate, disposing of some assets, sub-letting others and freeing up capital for reinvestment or for new acquisitions in more suitable locations and markets.
In order that an expansion programme properly supports a company’s aspirations to develop their business, it has to be carefully planned and considered to achieve the optimum benefit and to match the client’s internal department’s ability to process new outlets or to develop or fund new sites and get them operating. Timing is critical to this phase as is careful targeting of the areas and sites to be sought.
Cropper & Co use their experience in the industry and their knowledge of locations and markets to help clients determine where they need to be for their particular business.
As above, identifying suitable sites is key. The ability to identify good locations and sites comes from market knowledge, market contacts, constant background research, in-depth knowledge of different locations, and the foresight to see what will work and where.
Cropper & Co will work out a strategy to identify enough sites to fit the client expansion programme and to set up a pipeline; this allows the timing of the site acquisitions to be agreed and scheduled to suit the client’s needs and resources.
A lot of firms hand over a site to a client almost as soon as the purchase offer has been accepted by the Vendor. In our experience, the acquisition of a site still has a long way to go at this stage and Cropper & Co maintain proactive involvement up until the point of exchange and frequently until the point of completion. We take a very active role in negotiating the purchase terms, dealing with queries and obstacles, liaising with consultants and experts from all sides (lawyers, architects, planners, engineers, etc.) and smoothing the process through to a successful acquisition.
General advice and support for clients in managing their estates.
Cropper & Co conduct rent reviews on a variety of premises types for clients whose property portfolios they manage. In addition, we specialise in rent reviews for hotels, which we can perform on a site by site basis.