Asset Management

Our lending client was dealing with a long standing borrower who, due to ill health, had fallen into arrears on a loan facility secured across a number of industrial and commercial properties. The lender wanted to work with the borrower due to their close relationship but wanted to ensure their position was protected. Waterfold was therefore appointed as Asset Manager across the portfolio.

Our initial course of action was to health check the portfolio in terms of rental payments, statutory compliance and vacancy. It was quickly established that various tenants were withholding rent, a number of significant compliance risks existed and vacancy rates were abnormally high.

Using a combination of in-house commercial surveyors and commercial agents, Waterfold dealt with these issues through tenancy management, minor improvement works and letting of vacant units. The borrower and lender were kept updated throughout the appointment and it was a pleasure to hand the portfolio back in a healthier position than it was on our appointment. This particular appointment has led to further enquiries about this service from both lender and borrower which the team were extremely happy to receive.