Portfolio Management for Private Business

Client: Limes Estates Limited

Banks Long Lead: Sarah Pettefar

Brief: Limes Estates Limited is a private company with a number of sites across the UK. In December 2019, the company asked Banks Long & Co to lead on the service charge management for three of their sites: Northgate Retail Park, Newark, Lakeside Retail Park, Scunthorpe and Sibthorpe House, Lincoln.

Newark’s Northgate Retail Park and Scunthorpe’s Lakeside Retail Park have a number of units, and are home to well-established brands such as Currys PC World, Homebase, TK Maxx, Boots, Pets At Home, and Next. Sibthorpe House has retail space on the ground floor and offices above. Its occupants include leading regional law firm, Bridge McFarland.

Banks Long & Co is responsible for the appointment and management of the contractors at each of the three sites, and manage repairs and maintenance along with health and safety compliance and any necessary reactive work required to the sites on behalf of Limes Estates.

Banks Long & Co solution: The Management & Professional Services team is in frequent contact with Limes Estates and their tenants at the three sites.

While the Coronavirus pandemic has restricted movement and site visits, the relationships and communication cemented by the agents over the last 12 months have proved crucial in supporting the tenants, landlords and Limes Estates through this difficult period of economic uncertainty.

The national lockdowns have forced a number of retailers within these sites to pause trading. However, Banks Long & Co have worked closely with everyone involved to ensure that communication lines remain open, all parties are up to date, and the portfolio remains COVID-secure at all times.

Results: With businesses facing an extended period of stress and uncertainty, it has been pivotal that Banks Long & Co provide a seamless and transparent approach through all aspects of management.

The Banks Long Management & Professional Services team have been in regular communication with all parties, ensuring landlords and tenants remain updated and that all parties feel involved and a part of the process.