Capital & Centric have big plans for one of the last remaining Manchester Mills but until the development work commences, our role as Property Manager continues. We look at the challenges presented and the importance of maintaining services for the occupiers.
Initial considerations
We advised the client on the following:
- Lease expiry dates
- Health and safety compliance
- Repairs and maintenance
- Reactive expenditure
- Vacant possession
Approach to management
It was important to communicate clear timelines to the occupiers of the property so post acquisition, we arranged to go round with the landlord and talk to everyone. We set out the suggested timeline for the development start date and discussed the vacation process, as well as what would happen in the interim.
Regardless of the future plans, we still need to ensure that the landlord’s health and safety obligations are met so we proceeded with instructions for key tasks, such as electrical testing and structural integrity checks of external fire escapes.
As a responsible developer and landlord, Capital & Centric understand that funding still needs to be available, in order for both routine and reactive maintenance to take place. The mill dates back as far as 1855, so inevitably, things will break down. This was demonstrated recently, when significant expenditure was required, in order to replace the lift control panel. The client did not hesitate to approve the quotation, as they have a commitment to provide services for the users, until such time as the property is fully vacant.
Next steps
In the not too distant future, Talbot Mill will take on a new lease of life and become home for a new set of residents. Until then, we will continue to work with our client and their customers, whilst we approach a construction start date in 2018.
Whilst there will be an element of sadness that our role will no longer be required once the redevelopment starts, we are excited to see Capital & Centric open a new chapter and transform this historic building.
For further information, please contact our team.