A key element of Moorfield Group's asset management strategy is for each property to have its own fully appraised business plan to focus upon real estate and financial management opportunities thereby identifying where to 'add value' and enhance income and capital returns.
At least two of our asset management professionals are involved in the due diligence and underwriting phase of acquisition, as such, the implementation of a business plan for each asset is a seamless process. As well as real estate specialists we also have a team of operational experts who monitor our operating businesses.
On acquisition, the implementation of the business plan becomes the responsibility of two Moorfield asset managers and they will act as ‘lead and wing man’ for each investment. The asset managers act as project managers by assembling and directing a team of leading real estate professionals such as, leasing agents, rent review and rating specialists, architects and planning consultants and any others that are either specialists in a particular real estate sector or geographic market and are required for the task. Our asset managers are in constant communication with this team and meet frequently and regularly to ensure that all the business plan initiatives are addressed and implemented in a timely manner.
We believe that a business plan should be considered a tool by which to maximise value and returns and should be continually appraised and updated changing it where necessary to suit market conditions and circumstance.
Moorfield’s asset managers also take a very active role in tenant relations. This active, hands-on role has resulted in stronger relationships with tenants, and has led to better results when negotiating lease renewals and other value-enhancing activities where tenant involvement is required. We also ensure we have a relationship with Local Authority Officers (planning etc) and local politicians and various other relevant representatives of bodies and groups that are of import to the success of any investment.