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Case Study

Universities Superannation Scheme - Retail & Leisure

Universities Superannation SchemeChallenge
  • Non-discretionary mandate to asset manage the USS Retail / Leisure portfolio
  • To undertake asset management initiatives to add value to the Fund
  • To improve the performance relative to the IPD benchmark

Solutions
  • Provision of an all encompassing asset management service, including business planning, project management overseeing landlord and tenant issues, new lettings and acquisitions and disposals
  • Produced and implemented business plans and five year projections to establish strategy for each asset
  • Full discretionary power with approved client interface through operating Management Memoranda reporting and sign off procedures
  • Controlled the appointment and managed the performance of third party service providers to ensure consistency in terms of quality and performance

Results
  • Recently acquired Q Leisure, to increase the Leisure weighing of the Fund
  • 29 lettings across the portfolio completed in the last 12 months
  • Reduced void rate to 1.35%, significantly lower than the IPD All Retail benchmark of 5.8%
  • Eden Walk Shopping Centre Kingston - 50% sale to British Land completed

Contact Jonathan Brookes

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