Hartnell Taylor Cook LLP (HTC) is pleased to announce their appointment as the specialist property advisor to Bath and North East Somerset Council (B&NES) for the strategic management of their commercial estate, following a competitive tender.
The two year appointment includes advising B&NES on their existing extensive commercial property portfolio and supporting their in house team in the strategic management of their estate. The role includes identifying external and internal risks associated with holding the estate, finding ways of mitigating any identifiable risks, and providing options to meet key objectives, including a clear means of reinvestment where appropriate.
B&NES has an extensive existing portfolio comprising retail, offices, industrial, leisure and ground rents.
Ian Lambert, Investment Partner and head of HTC’s Bristol office said “We are delighted to have won this prestigious mandate to act as the Council’s specialist property advisor. This is a high profile instruction and will be led by our investment, asset management and retail teams.
“Bath is a fantastic city to visit, live and work in and has an incredibly strong investment market, with investors attracted by its strength as a retailing location, limited supply of office and industrial stock and its UNESCO World Heritage status. Its affluent catchment population also ensures Bath is a top 5 UK retail centre. This mandate will provide some excellent opportunities to take advantage of these factors and hopefully help maximise returns for B&NES in order to increase their income stream and further improve the quality of their portfolio.”
Councillor Gerrish, Cabinet Member for Finance and Efficiency said: “This appointment is part of the Council’s wider strategy of investing in our commercial estate to generate long term returns for the Council and tax-payer that can then be used to support the local services we provide. We therefore look forward to working with Hartnell Taylor Cook on opportunities to generate income for the Council, diversify our estate, support existing tenants and minimise the number of vacant premises within our estate through the network and expertise Hartnell Taylor Cook can provide.”