- Property Management by Workman Turnbull
- Building Consultancy by Turnbull Associés
Specialists in Property Management and Building Consultancy
We specialise in commercial Property Management and Building Consultancy and do not seek to generate fees from other related services.
Workman has specialised in these two disciplines for over thirty years and has grown steadily on the basis of this focused approach and we believe this combination creates significant opportunities for our clients.
Our Property Managers and Building Surveyors sit and work alongside each other benefitting from the complementary skill sets. This close working relationship ensures a more streamlined approach when undertaking refurbishments of multi-let properties and in tenant negotiation.
Best-in-class property management services
Our property management service has been developed from working for a range of leading institutional funds, investors and property companies. Our service typically includes:
A comprehensive accounting service
Workman Turnbull provides a comprehensive Property Management accounting and corporate accounting service to French-based and overseas investors.
The accounts team works closely with our property managers using online accounting and database systems. These enable us to control income and expenditure and provide clients with bespoke financial reports designed to meet specific corporate and property needs. The service includes:
- Rent collection
- Service charge administration
- Bespoke financial reporting
- Management accounting
- Business plan preparation and implementation
A tri-fold approach to technical services
Our experienced team provides technical services management to a range of clients across France spanning a variety of property types. Our expertise covers the whole the property life-cycle from new building delivery to refurbishment of aging assets.
- Fabric repair, maintenance and improvement
- Regular site inspections
- Operating and capital expenditure budgets – preparation and implementation
- Performance driven services specification and procurement
- In and out-going Schedules of Condition
- Costing and negotiation of tenant liabilities at lease end
- In-house Project Management and Building Consultancy team
Enhancing value through strong relationships
A key component of capturing value is a close relationship with tenants. This is achieved by a thorough understanding of tenant needs and a positive and harmonious working relationship. Our service focuses on:
- Building and managing the relationship
- Ensuring landlord and tenant lease covenant compliance
- Monitoring tenants’ trading performance
- Pursuing value enhancements opportunities
Workman Turnbull has developed a track record in enhancing value through a strong and responsive landlord/ tenant relationship.
Robust risk management processes
Property Management ‘best practice’ makes risk management a key component of the real estate process. Ever more complex legislation in recent years requires considered interpretation and systems in place to meet the requirements.
A thorough understanding of the insurance market is also required to ensure cover is placed in line with owner, lease and banking requirements. Additionally, skillful claims handling will moderate the overall impact when a loss occurs.
Our risk management services include:
- Insurance cover and claims handling
- Health & safety compliance – monitoring and upgrade works
- Fire risk management with regular specialist inspections
- ICPE compliance monitoring – the onerous French regulations applying to warehouse and light industrial properties
Hands-on due diligence
Thorough auditing of property management is an essential part of the pre-acquisition due diligence process.
Whilst the legal team audit the leases and property title, the accuracy and efficiency of rent and service charge collection, management of tenant relations and administrative issues like property taxes is often over looked during the due diligence period.
Alongside our technical due diligence services, our Property Managers will identify and analyse non-recoverable costs, and will conduct a thorough review of service contractors and on-site staff.
An accurate evaluation of the service charge and a forecast of future expenditure and cost recoverability helps the client with income forecasting and the marketing of voids.
And we are well placed to advise on contract terms and pre and post completion formalities. Our pre-acquisition management audit includes:
- Tenancy review
- Technical surveys
- Income and expenditure analysis
- Risk compliance
- Lease covenant compliance
- Service delivery
- Tenancy review
Specialists with a commercial approach
At Turnbull Associés we combine technical expertise with commercial insight in the context of current market factors and specific client requirements, for offices, logistics, retail, light industrial, hotels and leisure property.
Our core Building Consultancy services include:
Technical due diligence
A commercial focus on our client’s strategic objectives; identifying and managing investment risk to put technical issues in context
Strong management expertise backed up by technical know-how to provide ‘whole project’ control
A critical approach to the review of project documentation and potential risks coupled with thorough site inspections and reporting
In-depth understanding of leases and careful costing of works to support claims for landlords or provide robust defence of tenants
Technical expertise applied to a range of services including statutory compliance, defects diagnosis, decennial liability audits, maintenance and project costing.
Commercially focused due diligence
Commercial and industrial buildings must satisfy a complex range of needs including operating efficiency, long term durability, and increasingly strict statutory requirements – all at minimum cost, and more than ever, the success of a building lies in its ability to respond to the changing needs of corporate users.
Shortcomings in design, construction or maintenance can therefore have a significant impact on the cost of ownership and cannot be ignored when planning an acquisition.
Decennial insurance affords only limited protection against the consequences of design and construction errors, so technical due diligence is an essential step to acquiring property in France as an investment or to meet operational needs. Our services include:
- Detailed inspection of the property by Chartered Surveyors
- Thorough analysis of all technical documentation – in the dataroom and on site
- Q&A exchanges with the vendor to clarify issues
- A ‘red-flag’ report shortly after inspection, highlighting key points
- A full report with a budget of anticipated capital expenditure
Dedicated project management expertise
At Turnbull Associés we have a specialist focus on the alteration, re-modelling and refurbishment of existing assets rather than new development. The quality and responsiveness of our service is based on the involvement of senior level staff in our project teams.
Turnbull Associés organises and drives forward projects, defining the timetable and budget, putting in place the professional team, supervising the design process, managing the tendering and works contracts, ensuring control of contractor payments, management of contingencies, and keeping the client fully informed at every step.
Our experience means that clients benefit from:-
- In-depth construction knowledge enabling us to fully understand key technical issues, identity the best solutions for new build, renovation or improvements and liaise with design and construction teams.
- The ability to grasp the legal and financial context of the contracts, guarantees, and insurances and understand the context of the letting market, user and investor expectations.
- Unique management skills needed to organise and drive forward the project with rigour, diplomacy and authority, drawing on the specific competencies of the design and construction team including the architect, engineers and specialist contractors.
Step-by-step development monitoring for peace of mind
At Turnbull Associés we work with clients to navigate forward-funding contracts and design and build development agreements. We review the scope of works, the design quality and the technical specification of the projected works and negotiate amendments where necessary.
During construction we provide development monitoring to ensure that our clients’ interests are protected and that the developer meets his obligations.
When it comes to project completion and handover our teams keep a close track of the snagging process, provision of documentation due on completion and final sign off when completion is achieved. As a final step we are on hand at the end of the first year rectification period to assist if any issues arise.
End-of-lease dilapidations by Building Consultancy specialists
Negotiating the works or indemnities due by outgoing tenants is a complex process involving multiple skills.
At Turnbull Associés we have an in-depth understanding of leases as well as a rich data-base of renovation costs from past our projects, making us ideally placed for the preparation of comprehensive schedules for landlords or the robust defence of tenants. And the extensive experience of our property management team means we are on familiar ground in landlord/tenant negotiations.
Our approach to end-of-lease dilapidations is to provide professional, commercially viable and accurate advice with the aim of concluding negotiations effectively and promptly.
Technical specialists with a practical approach
Our Building Surveying services combine technical expertise, a commercial approach and an understanding of relevant property legislation.
At Turnbull Associés we apply this technical knowledge to a range of services including statutory compliance, defects diagnosis, decennial liability audits, maintenance and project costing. Services include:
Replacement Cost Assessments (RCAs) for Fire Insurance purposes
RCAs are often undertaken in the pre-acquisition phase in order to define the amount of fire insurance cover needed for the asset. This amount relates to the reconstruction cost and is, of course quite distinct from the market value of the property.
An RCA may be carried out to update insured amounts on an existing building or portfolio as part of a rolling programme to meet insurer’s requirements.
IFRS Component Value Assessments
International Financial Regulation Standards (IFRS) require the depreciation of a property to be broken down into its component parts, each having a distinct life expectancy.To assist investors and their accountants our specialists provide a detailed analysis of clients’ properties, identifying the value of components, the respective periods of depreciation and the likely remaining life.
Planning Preventative Maintenance Programmes (PPMs)
A PPM report is a fundamental tool in order to minimise unforeseen expenditure and assist in the planning and phasing of both building fabric and service costs. By planning such works the timing can be set to suit lease terms, occupancies and minimise operator-critical failures.
Environmental and Sustainability advice
Our team will review the validity of a building’s ‘green’ credentials and advise on the impact in terms of sustainability and environmental quality, energy efficiency, operating costs and lifespan.
Where existing buildings have no certification we will assess the feasibility of cost-effective improvements to environmental and energy performance to obtain certification, meet market expectations and anticipate future regulations.