What we do
Harness the power of property
Rental income and capital growth are intrinsically linked. If you’re into capital growth then you have to be excellent at managing your income risks; if you don’t then your capital values can easily fall. In the new world of Net Zero, MEES, sustainability and EPC’s, managing your income risk has suddenly become a complicated challenge; often an expensive one and it’s invariably a hugely time consuming issue. No longer is doing a lease regear, a few renewals and the odd rent review enough; this is just part of the process. If you want to harness the power of your property then you must create opportunities which meet EGS standards. This is where it’s vital to get owners and occupiers pulling together.
This is what YOKE do…
Income Risk
Shortening income attracts void risk and a loss of capital value. Anyone can claim to able to do a lease renewal or remove a break clause but nearly always, there is something which stops the occupier from doing this. Whatever the something is, it could be driving the occupier from the estate.
You can’t claim to be managing income risk if you aren’t prepared to get to grips with every aspect of the investment process so, we ‘set the tone’ for property and facilities management functions, the letting strategy, product specification and ESG matters.
This is the nitty gritty of what YOKE do and the holistic approach is essential if the occupiers you want to keep are to be persuaded to agree better terms.
Void Risk
Sometimes you can’t stop a building from becoming vacant. This produces a time consuming cocktail of matters to deal with. EPC compliance, refurbishment, dilapidations, improvements, tenders, agency appointments, letting strategy and subdivision appraisals are typical of the issues vacant property bring to your desk.
Very quickly, your team can suddenly consists of EPC assessors, building surveyors, a letting agent (sometimes 2 or 3) a planning consultant, structural engineers, property and facilities managers, marketing consultants, PR consultants, M&E consultants and maybe even rating consultants. Often they don’t all agree and can easily pull in different directions. Galvanising the team and getting them moving in the right direction absorbs time.
We manage this process for our clients making their decision process easier and quicker. Crucially the client creates valuable time for themselves and void periods are often reduced.
E.S.G. – it's not all about financial return anymore
The green revolution is here, its here to stay and more than any other issue, it’s where owners and occupiers really have to pull in the same direction.
If you don’t then you run the significant risk of owning a property which is illegal under environmental regulations. Refurbishing properties to deliver a lower carbon footprint is expensive, but easy enough when the property is vacant; however, what about renewing leases on older properties with dreadful EPC projections? The regulations will soon capture existing leases and this is a huge challenge.
But its not just about the unit the tenant occupies, the common areas and wider ‘offer’ is also very important. Occupiers want to attract the better staff and the environment they work in is a key part of this. Yoke are acutely aware of this and ESG is a core part of our advice to clients.
