Rob Howells

Napier & Blakeley strengthens team

115041 N&B_Trans&Advis icon_Medium_BNAPIER & Blakeley has bolstered its Transaction Advisory team with the appointment of Kate Rickards.

Rickards has been appointed senior consultant within the N&B’s Transaction Advisory team and will be based in the Melbourne office.

Rickards’ previous roles have been at AECOM, Philip Chun and Abigroup.

“We’re absolutely delighted to have Kate on board,” National director Rob Howells said.

“With a background in mechanical services design, regulatory compliance and tendering and estimating, Kate makes for an excellent due diligence consultant in our expanding business.” Howells concluded.

Property Review Australia
14 May 2015

Napier & Blakeley launches international recruitment campaign

Rob Howells PNGNAPIER & Blakeley have launched a national and global recruitment campaign, searching for suitable candidates to join the company’s building consultancy team to assist with their ever increasing workload.

Napier & Blakeley national director Rob Howells said the company’s building consultancy and technical due diligence business is increasing its global coverage.

“We are in our 30th year in business and we are seeing increasing demand for our trusted and independent consultancy services,”

He added that the success of local players coupled with a strong appetite from international investors for real estate has seen demand grow for independent professional advice.

As a result, Howells said Napier & Blakeley’s business has continued to grow year on year.

Napier & Blakeley is the market leader in Australia having provided technical due diligence for a large percentage of all international property investors coming into Australia. Continue reading

Lease Make Good – The Break Up

4 images joined upHeadaches and protracted negotiations at lease expiry could be avoided by well drafted Make Good clauses and thought out strategy (see Lease Make Good – The Pre Nup).

However, more often than not, the end of term Make Good obligations require negotiation between Landlord and Tenant.  This may be in the form of Lease incentives or other commercial considerations negotiated between the Property Manager, Asset Manager and the Tenant directly.

Alternatively, specialist Make Good advice can obtained from Napier & Blakeley.

What We Do – End of Term Claims:

We will discuss the overall asset strategy for the premises. This will consider what the owner ultimately wants from the Make Good process, i.e. a financial settlement, the Tenant to undertake the Make Good works or to use the Make Good figure part of their Lease renewal negotiations.

Undertake a review of the Lease and other tenure documentation prior to inspection, in order to determine and provide advice on the likely Tenant responsibilities. Continue reading

Lease Make Good – Pre Nup

4 photos joinedHeadaches and protracted negotiations at lease expiry could be avoided by well drafted Make Good clauses and thought out strategies prior to lease commencement.

Building owners and tenants can be poles apart in their understanding and interpretation of repair, maintenance and other make good related clauses. This in turn can lead to significant unforeseen costs, disputes and delayed income. 

Attention to the lease definitions and obligations together with some good asset management strategies can help to avoid such situations. 

Your lease and make good check list in this regard could include some thought around the following:

Premises

  • What are the physical elements and spaces under the obligation of each party?

Commencement Date

  • Does the obligation for repair, maintenance and make good extend to any previous terms of occupation perhaps under an earlier lease or option? 

Condition as at Commencement

  • If the tenant is expected to return the property back to a condition ‘as at commencement’ – can anyone recall what this looked and felt like?
  • Is it well defined and recorded in a schedule of condition with plans and photographs?  Continue reading

Technical Due Diligence

Our Transaction & Asset Advisory professionals cover the core disciplines involved in the physical analysis of cost, risk and return of property acquisition, ownership and disposal.

We align our clients’ thoughts with our own and provide user friendly, accurate, meaningful and timely advice that is oriented to the commercial imperatives that actually matter.

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Continue reading

Taking the ‘Sting out of the Tail’ at Lease Expiry

Disruption, potential unplanned costs and conflict at the end of a lease due to make good obligations can sour what has been a solid commercial relationship between landlord and tenant. This can complicate the tenant’s move or the re-letting of the premises. The pressures of a poorly set up lease in terms of documentation, understanding of the consequences of the relevant clauses from a technical perspective and agreement as to the condition at occupation, or of future alterations, are self evident for both parties.  

Properly qualified building consultants should be actively utilised in such processes due to their knowledge and understanding of leasing and legal aspects combined with their expertise in building conditioning and rectification. The proactive stance is to bring all parties together prior to the signing of the lease to agree not only the terms of occupation, lease and physical condition but also to the process at lease expiry.  

If this process has not been followed, the building consultant plays a key role in interpreting the relevant lease clauses and evaluating the property’s condition so to effectively define the make good obligations, the cost and the best method of rectification. Continue reading

Property Reinstatement Cost Assessments – Are your property assets correctly insured ?

Construction costs are subject to constant change, so if you are insured are you confident that you are not either under or over insured in a changing cost market?

Quantity Surveyors are the only construction cost trained professionals that can make sure your assets have the appropriate insurance replacement cost cover.

A Quantity Surveyors purpose is to predict and manage construction costs. They are specifically trained to do so and they don’t value, they don’t build, they don’t design, they don’t buy and sell property. They are independent and professional consultants.

So here’s a quick list of Property Reinstatement Cost Assessments do’s and don’ts : Continue reading

Benchmark Data to ‘Make good’ Informed Decisions

Are you a corporate occupier or property portfolio owner faced with budgeting ‘make good’ costs and financial reporting compliance?

Napier & Blakeley have assessed, negotiated and managed ‘make good’ costs for many years, including benchmark data to help inform future strategy.

To manage large portfolios, property and lease profiles are reviewed and sampled to quickly determine ‘make good’ obligations and the cost for returning the property to the required condition.

Costs and square metre rates from the sample are risk adjusted against Napier & Blakeley’s independent bench mark data and applied to the leased portfolio. Continue reading

ITS LODGEMENT DAY !

The End of Financial Year has come and gone and the 31st October is lodgement day.  So there is less than 2 weeks to get your Depreciation Schedules in place. 

We can assist you, guarantee you get maximum deductions and also be fully compliant with the A.T.O. as we are Registered Tax Practitioners.

Napier & Blakeley, the first Property Depreciation Company and still the best – just ask your Accountant.

Contacts

 

Call Napier & Blakeley today for assistance with your Tax Depreciation Schedule or any other Napier & Blakeley services at any of our offices below: Continue reading

Protecting Your Assets by Making Good

Under typical lease arrangements the tenant is responsible for repairs and maintenance to a specified condition during the lease term and for returning the property to a defined condition at expiry.

This should not be underestimated. In terms of commercial office property, lease end Make Good can equate to 75 to 120% of the rent per square metre and more under certain circumstances.

If left to the uninitiated a lack of repairs and maintenance will lead to reduced life expectancies of the building’s elements, plant and equipment – and in turn, premature capital expenditure for the replacement of such items.

This often leads to conflict and disputes which can complicate the tenant’s relocation or the landlord’s re-letting of the premises. In some instances this can also legitimately allow the landlord to claim loss of rent, rates and other associated losses which can be significant. Continue reading