Project
North Kesteven District Council provides essential services to residents and businesses in an area covering 356 square miles of Lincolnshire. The District is "characterised by its many flourishing communities and large areas of arable farmland", a strong local economy with a mix of industries and vibrant local centres and high streets, and a unique leisure and tourism offer.
The Council were seeking a firm to manage their commercial property portfolio, which consisted of ten sites across North Hykeham, Metheringham, Sleaford and Bracebridge Heath. This is a community-focused portfolio, covering industrial, office and retail space across the District.
It was a competitive, formal process to obtain the work, with Banks Long & Co submitting a tender that was scored on the support, structure and accounting procedures offered by the firm.
After meeting the Council’s requirements surrounding experience, environmental credentials, diversity and equality, Banks Long & Co were awarded the contract in April 2020, with work commencing in August of that same year.
Approach
After demonstrating the firm’s ability to meet North Kesteven District Council’s various requirements, Banks Long & Co won the tender, and is now relied upon for rent collection and service charge management on behalf of the Council.
The management responsibilities for this portfolio cover an extensive remit that also involves setting up budgets, communicating regularly with tenants, and operating within the Council’s parameters and procurement regulations when appointing and managing contractors.
Throughout the Coronavirus pandemic, agents have kept consistent lines of communication between all parties to maintain strong relationships and maximise safety.
Results
North Kesteven District Council’s objective is to invest within its District, supporting occupiers in the community who want to expand by providing business units that meet local requirements.
Banks Long & Co work closely with the Council’s economic development team to ensure the portfolio is managed in a manner that facilitates their remit to support the community and local businesses.
Despite starting this project in the middle of the Coronavirus pandemic, the management team established a seamless transition upon commencement, maintaining rent collection levels, while cementing strong relationships with tenants within the portfolio.
Principal Economic Development Project Officer Suzanne Feneley said: “We’re proud to be working with Banks Long & Co as a trusted partner in the management of our commercial property portfolio.
“The team at Banks Long & Co share in our vision for North Kesteven including our ongoing work to champion its local economy and ability to attract occupiers and investment. They share too in our values, as a Council which is actively investing and working to ensure businesses in North Kesteven have the space and support they need to succeed and expand.”
