Hartnell Taylor Cook - BDC Magazine May 2019

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MAINSTAY RESIDENTIAL: A MANAGING AGENTS SPECIAL REVIEW

PROPERTY CONSULTANTS & MANAGEMENT HARTNELL TAYLOR COOK

AGILE AND PROGRESSIVE Hartnell Taylor Cook has evolved to deliver leading commercial property consultancy and agency services From its roots in 1922 as a specialist residential agency Hartnell Taylor Cook (HTC) has now evolved into a leading commercial property consultancy and agency service offering property advice nationwide.

HTC is very proud of being an independent business, offering a full range of agency, consultancy and asset management services, 58

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all delivered in a highly integrated way. Key market sectors include retail and leisure, offices, industrial, and the public sector.

At present the HTC team comprises of some 100 individuals, placing the organisation very firmly as a traditional medium-sized practice in terms of size. Combining the flexibilities of a smaller, niche practice, with that of the extended capacity and expertise

which a larger organisation can afford is something which the company does best. A vast wealth of expertise can be found across the business, yet simultaneous to this, Partner and Director level individuals can be seen as actively involved in client interactions and day-to-day professional service delivery, thus giving a more personal and bespoke feel to the overall service.

Indeed, this more personal approach to dealing with clients is every bit as important to HTC as the technical elements of the service itself. Through closer collaboration with clients, the company works to achieve a better understanding of client briefs and requirements, as well as ensuring a consistently high standard of service across the entire business. Additionally, the continual

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PROPERTY CONSULTANTS & MANAGEMENT HARTNELL TAYLOR COOK

CASE STUDY: Chiswell Street, EC1 - Cat A refurbishment Hartnell Taylor Cook was appointed by a major overseas investor seeking City office investments with the potential to enhance return through active asset management, a market that is particularly challenging and very competitive.

The approach to identifying, acquiring and repositioning 24 Chiswell Street was multi-disciplined. From the identification (and acquisition) of the 72,000 sq ft multi-let office block, to negotiating dilapidations settlements in respect of the office floors and the project management of the refurbishment scheme.

HTC negotiated with the existing tenants, to release approximately half of the floor space, which enabled the phased refurbishment programme to proceed to the occupied building.

The resulting works comprised two key elements: firstly, the phased CAT A refurbishment of four office floors and secondly, the remodelling of the building’s external ground floor level façade, reception area and common parts including the provision of a new cycle centre.

The works to the ground floor façade and reception area entailed significant structural altera-

tions to the building, yet the circa £7.5M contrct was completed without any tenant claims over a contract period of 12 months duration.

The successful delivery of the project is testament to the close collaboration between HTC’s Project Management, Property Management and Facilities Managmemt teams and the high level of tenant, and other stakeholder, engagement undertaken prior to and during the construction phase.

Secondly, licence for alterations of refurbished floors during tenant CAT B works.

Subsequent to the major refurbishment project, HTC’s Property Management, Building Consultancy and MEP Consultancy teams have been involved with the agreement of a number of tenant licences for CAT B works, ensuring a fast turnaround and maximum flexibility for occupiers, while ensuring that our client’s interests are protected at all times.

We advised on the management of the building, provided facilities management and looked at potential asset management opportunities.

We negotiated with existing tenants to release

over half of the block to enable refurbishments of a number of the floors and reception area with all works completing with no tenant claims. Finally, our Office Agency team has been closely involved with both projects in terms of development appraisal, design review, branding and marketing processes and secured a headline rent of £59 per sq ft with all floors now let and one remaining floor under offer (check with CW ok to say this).

The repositioning of 24 Chiswell Street into a Grade A office block has not only seen its value increase significantly in a challenging market but now also attracts a wide range of tenants from traditional corporates through to media, TMT and tech industries. This is an excellent example of how a building’s value can be enhanced through efficient and cost effective asset management strategies. HTC adopted a collaborative and multi-disciplinary approach and engaged closely with the client and other stakeholders to deliver a scheme that is completely aligned to client requirements and satisfies the objectives of the project brief.

United Facilities Management Ltd have developed in partnership with HTC a range of bespoke, specific and pro-active planned maintenance regimes covering any and all aspects of commercial buildings and facilities within a fast moving demanding market.

Our Full Range of Mechanical, Electrical, Public Health, Fire Protection and a wide range of Specialist Services including projects, small works and building with our vastly experienced ‘’in house teams allow a personal level of service that is unrivalled in today’s market.

UFM are pleased and proud to be associated with HTC and be in true partnership, openness and trust moving forward into the next decade.

Tel: 03333 230 730 | Email: helpdesk@unitedfm.com | Website: www.unitedfm.com BUILDING DESIGN & CONSTRUCTION MAGAZINE

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PROPERTY CONSULTANTS & MANAGEMENT HARTNELL TAYLOR COOK involvement from senior practitioners within the business allows for a great deal of technical expertise and experience to be instilled into every client relationships. This approach is evidently well received by clients who are made up of well-known high street brands and retailers, institutional investors, property companies and corporations as well as central and local Government organisations, family trusts and private individuals, most of whom are long-standing clients of firm.

To learn more about the organisation’s approach to customer service and client relationships , as well as the unique strengths of HTC’s service, we spoke with David North (Partner in the Property and Asset Management team), Stuart Funiciello (Director and Lead of the M&E Consultancy team), and Matthew Sharkey (Director of the Building Consultancy team).

Commenting on the level of involvement with clients, David North explained: “We believe in early, face-to-face client contact, to facilitate strong mutual understanding, then tailoring our approach to provide a client focused high standard of service. The senior staff lead approach is key to ensuring a uniform quality of service. I have teams in Bristol and London, but I sit down and personally see the reporting that is being produced, and it’s got my quality stamp on it all as well”.

Naturally, through this level of involvement and continuity in standard, the organisation is able to work in a way which supports both time-poor and perhaps less experienced clients who appreciate the assurances of a more involved and supportive service; this being something the organisation clearly recognises, as Matthew Sharkey details: “From a client’s perspective I think the most important part is that they’re getting a value experience and the knowledge of the instruction, including the general pitfalls that they can fall into. It’s also about being carefully managed through it, since some clients do require a lot of hand-holding to get them through it, and their brief needs to be interpreted very carefully.”

Key to providing a consistent service is also the empowerment and responsibility assumed by each and every member of the HTC team.

As explained by Stuart Funiciello, the company isn’t bogged down in some of the restrictive structures that some of its competitors suffer from. Each member of the team assumes a level of responsibility and a clear, professional role in serving the client. This allows the organisation to be far more responsive, but also pass on far greater assurances to the client who can recognise the level of attention and responsibility being taken.

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PROPERTY CONSULTANTS & MANAGEMENT HARTNELL TAYLOR COOK

CASE STUDY: Refurbishing and repositioning 5 Norwich Street, London EC4 Hartnell Taylor Cook was appointed to project manage the refurbishment and extension of 5 Norwich Street in London’s EC4, a 30 year old 21,500 sq ft office building in order to reposition it and maximise rental income and capital value. HTC’s appointment commenced at project inception, acquiring the building on behalf of the client, negotiating the dilapidations with the outgoing tenant and working closely with the client to understand their business objectives and develop the brief.

This process was followed by an in-depth feasibility process, engaging specialist consultants, and drawing on expertise from our Investment and Agency teams, to inform project strategy. In order to develop the scheme, we appointed and managed a dedicated project team, while engaging with stakeholders and statutory consultees, in order to manage risk and obtain requisite consents. At each stage of the project lifecycle we worked closely with the client and their representatives ensuring all deliverables aligned with the project brief.

Consent was obtained for a two storey extension, remodelling of the external façades and CAT A refurbishment of the building’s interior to compete with new stock and drive up rental values. Income producing accommodation increased from 21,500 sq ft to 29,000 sq ft NIA, representing a 39% increase in lettable floor area. New cycle centre and reception amenities have been provided and BREEAM Excellent criteria achieved.

The redevelopment works, which has a value of approximately £8.7 million is on track for completion at the end of April 2019 following a contract phase programme of 12 months. HTC’s Property Management and Facilities Management teams work with the building as well as our London Office Agency team who has been appointed to market it, demonstrating the integrated, end to end and client centric approach to reposition this Grade A building.

Beyond this, however, it’s about how communication is handled within the organisation. Now looking beyond just the senior members of the team, HTC as an organisation that tries to bring a friendly face to client interaction wherever possible. Although counter to technological changes in terms of digital communication, the core focus here is to provide a far more bespoke and client-centric service which prioritises truly getting to know the client.

“With technologies moving on, it’s about that face-to-face and personal touch as opposed to just telephone calls and emails, which are easy to get bogged down in.

But ultimately it’s very much about understanding what the clients’ drivers are, and how we’re going to achieve that with them. It’s about interpreting what they see 62

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and working with them closely through the entire process so that they understand what they can get. We know our clients appreciate this approach.” enthused Matthew Sharkey. “A longer process that we go through helps them to be aware of the decisions they’re making and we don’t want to deliver something that they’re either not aware of or not expecting.”

Better understanding of their clients has allowed for the business to not only deliver its core service better, but also get a grasp on areas where substantial value can be added. HTC has a very adept grasp on the changing trends and demands of the marketplace, then responding to those demands to provide the most comprehensive and value-added service possible. This sees great variation in the handling of one client to the

next, but interestingly also sees the organisation assuming roles of benefit to the client which might not have initially been a part of the core service.

“What we’re seeing with new tenants is a broader range of increasingly exacting requirements from their space and the buildings they occupy. They’re not just looking for a standard office with lights, a desk, and air conditioning. They’re looking for new technology in the building such as enhanced connectivity and flexible building services. They’re savvy in that respect, knowing what they want, and they look to us in providing solutions to those aspects that they require,” added Stuart Funiciello. “Some clients need their hands holding, and some are hands off, so our service is tailored towards what they want

from us. Particular examples we have include a new build at the moment where delivering a complex connectivity solution is not expressly our job, but we’re doing it anyway because it’s beneficial to our client.”

Looking to the future, HTC looks to both continue developing the range of value-added services which it offers as well as maintain the fundamental attention to high quality professional service delivery. This will naturally translate into sustainable growth for the company, as opposed to aggressive growth which could otherwise compromise the incredible attention to detail which the company affords. At present, the outlook is certainly very positive at Hartnell Taylor Cook and we look forward to seeing how the company progresses in the coming times.

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PROPERTY CONSULTANTS & MANAGEMENT HARTNELL TAYLOR COOK

Supporting Hartnell Taylor Cook Bespoke solutions in M&E maintenance and installation

Tel: 01628 547070 Fax: 01628 547071 Email: admin@cooltech-ltd.co.uk

18 Progress Business Park Whittle, Parkway, Slough Berkshire, SL1 6DQ

} Established in 1992 } Managed maintenance services } Tailored, flexible and bespoke solutions } Resident engineers } Mobile engineers } Foot mobile engineers } Projects division for installation works } ROSPA accredited H&S training solution for engineers } ISO 9001 accredited } ISO 14001 accredited } Safe contractor accredited } Gas Safe accredited } F Gas accredited

www.cooltech-ltd.co.uk

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