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Looking
after Shopping Centres is the most important thing we do.
Put simply, it is why we, at
Plus Shops, are on this earth. The bottom line is that Shopping
Centre Management has always been a poor relation of the property
investment process. Investment advisors want the glory of the
big purchase and the fees that go with it, and that is understandable
- these are prestige deals
It is always over to the back room boys to do the poorly paid,
hard graft and try to get in the high returns promised by those
"Genies with their Lamps".
Well we don’t make these ‘promised returns’
…
History shows that we exceed them!
‘How
do you manage that?’
At Plus Shops we manage our Centres from the shop floor up.
We care about the process at every level and have experience
at getting the most out of all opportunities available. We know
our tenants and we learn to know our customers. We try to understand
why they shop, when they shop and how often they shop. Plus
Shops instills the Centres’ management with a sense of
responsibility, so that both our staff, and our tenants’
staff, make the customer’s visit as rewarding as possible.
We are not afraid to delegate management responsibility to the
Centres, so tenants and customers alike get responsive and authoritative
decisions quickly.
‘You make it sound so simple’.
In effect it is. We collect rents on site and administer the
Service Charge there and then. Contracts are run from the Centres
and all marketing and promotional events are driven using local
consultants, who know their markets best. It is so simple we
can’t work out why so many other companies run so much
of this type of work from their Head office.
‘So where is the power house
of your company?’
We have developed an experienced team at our Central Office,
who are dedicated to the management process and monitor it in
its entirety. We are able to tailor management for different
locations, troubleshoot and put time into developing innovative
ideas to help drive profit. Our team regularly produces income
and capital returns well above average. This type of success
can only come from hard work and administrating simply and effectively,
and from our own unique brand of creative thinking aligned with
thoughtful marketing. That is why we have built up, from scratch,
a portfolio for our clients that was purchased for £100m,
sold for in excess of £135m and showed an IRR of in excess
of 56%. More recently one of our Investors sold a centre and
this produced a return on equity of in excess of 47%IRR. Other
Centres under management are constantly being monitored and
re-valued, and these also show considerable returns above the
waterline! Returns that those "Genies with their Lamps"
could only dream about.
‘Anything else?’
Yes, we run our famous "Plus Shops Tennis Tournament"….
But only once a year!!! |
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