Page 6 - Clarendon Tender

6
Clarendon | Request to Tender
■ Voids mitigation
Within this proposal we have focused on some key service charge costs and where savings can be potentially made This is is also the case with voids Focusing on Block C1 we are are aware that the block is close to being sold out which will positively impact on initial voids We would anticipate and hope this remains the case throughout the development period However it is not feasible to legally complete on 169 residential units on on one day To minimise voids and maximise the customer experience we would propose that St William and Mainstay work together to to agree a a a a a a a handover and and voids protocol This would include:
» Careful on boarding of staff to fulfil actual occupation levels
» A floor floor by by floor floor occupation strategy thereby minimising management responsibilities
» Holding back public open space and other facilities that are expensive and where contractor access routes prevent full handover » Mainstay agree to waive management fees and reserves funds on on unsold and non completed units until completion occurs
» Electricity Mechanical & Electrical plant and other building warranties and contracts of a a a a a a a phased nature are not handed over for management until the final stages of building occupation » Voids are paid quarterly based on actual as as opposed to budgeted expenditure
However it is important to to note in in relation to to Building C1 we anticipate St William will be fully responsible for ongoing voids in in in relation to unsold car parking spaces and commercial space