That Retail Property Guy

Knowledge & experience are critical factors for any bricks & mortar retail tenant.  In Estate Management, this supports huge budgets in occupation costs, and compliance, and statutory reporting, and business continuity, and profit protection. 

Host Gary Marshall discusses the transfer, and the retention, of relevant knowledge, from the individual Subject Matter Expert to the documented SOP process manual, avoiding the guesswork, and the dreaded Silo.

Experience teaches us lessons on risk, reward, consequences. Documented processes can help capture knowledge and experience, but must define the WHY as well as the HOW. 

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Go to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes. 

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!

Leases for land & property often contain Quarterly payment Due Dates, historically based on religious festival dates.  But many businesses run monthly financial calendars, which don’t align. 

Host Gary Marshall discusses whether Quarterly Due Dates still have a place in leasehold estates, whether monthly billing is the best all-round compromise, suiting both tenant and landlord, smoothing cashflow out and in. 

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Go to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes. 

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!

Accounts Recoverable for Retailers with leases!     Host Gary Marshall highlights the important overlap in responsibility between Property Accounts and Estates teams, ensuring that the Landlord’s agent doesn’t lose or misallocate the retailer’s payments for lease charges. 

He emphasises the incredibly common occurrence of managing agents misbilling, misallocating or rejecting funds, or building suspense accounts while chasing arrears.  

In a practice he labels “Accounts Recoverable” he describes some of the key areas where tenants can protect themselves against shoddy management practices, and can chase down and recover sizeable sums that should be profit on the retailers bottom line.

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Go to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes. 

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!

Host Gary Marshall explores the intrinsic characteristics of a good Head of Estates in a retail environment.    He underscores the necessity to understand Finance requirements like IFRS as much as Landlord & Tenant legislation, with the competence and experience to mentor & guide the Property Accounts function even if this team sits within Finance, to support and coordinate with controls and forecasts by Finance FP&A teams.  

His point is that Property isn’t just about dusty leases and regular rent payments, it’s about compliance, cost-optimisation, profit-generation – and brand presence, operational flexibility and sometimes about damage limitation.

He concludes that it’s expensive to operate as a bricks & mortar retailer, Property-cost budgets often run into millions of pounds per year, so specialist skills can reduce leakage by huge sums – and though dedicated in-house Estates leads can be viewed as expensive for a smaller or growing business, there are many options for fractional, advisory or flexible support.

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And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.

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Go to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes. 

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!

Host Gary Marshall discusses some common odd-ball scenarios which baffle or confuse retail accounts teams which handle property lease-liabilities.  He argues against the presumption that it is just ‘invoice comes in, invoice gets processed, payment goes out’.  

The ancient common law principle that rent is due whether formally demanded or not, confusion about ‘applications for payment’ and incorrect VAT receipts, monitoring insurance costs, understanding rent waivers, accurately forecasting cashflow and worrying about available cash for payment day, forensically checking Landlord’s ledgers for misallocations and lost-in-suspense accounts, and of course: Bailiffs!

-: Avocet Industrial Estates LLP v Merrol [2011]

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And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.

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Go to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes. 

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!

Interim Rents can be a complex minefield in long drawn-out lease renewals under the 1954 Landlord & Tenant Act, when there is a curious no-man’s-land of 'no lease' between the old lease and the new lease.    

Host Gary Marshall discusses some of the main points in a topic which many tenants overlook at lease expiry, inadvertently leaving money on the Landlord’s table - whether they renew their lease – or hand back the keys and walk away.

What period might benefit from an Interim Rent?   What rental value applies? Can this value be easily agreed or must the Court determine it?   When is it due for payment, and what happens when it is settled up? 

When rental levels are falling but renewal negotiations seem to drag on forever, an interim rent might be a welcome bonus for the tenant, and shouldn't be overlooked.

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Send us a Comment, a View, a Thanks, Fan Mail and so on!

And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.

Find out more and message us on the podcast website

Go to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes. 

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!

Upward only rent reviews – in reality, not about always upwards but about never downwards.    Host Gary Marshall considers the impact of new UK legislation which bans upward only (never downwards) review clauses in new commercial leases – will it have the intended effect to liberate the high street, or will it trigger unexpected consequences such as the destabilization of the property investment market?   Is the Government’s declaration smart or ill-advised, is it a win for the economy or a shot in the foot for retailers? 

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Send us a Comment, a View, a Thanks, Fan Mail and so on!

And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.

Find out more and message us on the podcast website

Go to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes. 

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!

Host Gary Marshall considers retailers' trading hours, and whether their leases should contain any clauses which define specific trading hours, or restricted hours, leading to additional costs for flexing, or litigation costs for non-compliance.   He asks whether keep open clauses should be mandated in a lease contract, and if changing circumstances and shopping patterns render such historic definitions un-workable – and if so what then?

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Send us a Comment, a View, a Thanks, Fan Mail and so on!

And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.

Find out more and message us on the podcast website

Go to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes. 

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!

When a retailer goes into Administration, what does the Administrator actually do? Host Gary Marshall discusses this from a Property perspective, looking at the rights and obligations of the various players – the landlords, the suppliers, the Administrator’s team.

He discusses Insolvency Rules which take precedence over contractual leases, where Landlords become Unsecured creditors facing losses of rent and unfulfilled dilapidations.  He also comments on the value to be gained in liquidating stock, fixtures, special items – and avoiding landfill!

Send us a Comment, a View, a Thanks, Fan Mail and so on!

And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.

Find out more and message us on the podcast website

Go to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes. 

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!

Save the High Street?   Why? Where? How?     What’s your view?   

Host Gary Marshall discusses the plight of town centre retail, and considers the popular cry to Save the High Street.   He questions whether this is a nostalgic, rose-tinted recollection of bygone days, or a sincere movement to re-take our towns, and build vibrant communities.

He asks whether out of town retail is partly to blame for town centre blight, or are retail parks the new high street where we can gather, meet up, browse, shop?  Are town centre shops still needed – and what could be an alternative use?  

He questions if any change in use should be tightly controlled, or permitted without restriction, and if tax-payer funded projects are helpful, or wasteful? 

Are anti-car measures part of the problem?  Does everyone have the right means of access to their local high street?   

And what part do we all play, as online-shoppers, in this demise of physical retail? 

Save the High Street?   Or let it evolve?

Send us a Comment, a View, a Thanks, Fan Mail and so on!

And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.

Find out more and message us on the podcast website

Go to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes. 

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!