COMAC RETAIL PROPERTY GROUP ARE THE RETAIL EXPERTS
Comac Retail Property Group provide Landlords with a comprehensive management platform providing excellence in Property Management, Leasing, Lease Administration, Financial Management, Facility Management and Marketing. Systems and reports over time have eroded the value of quality property management. As important as these are, they are aides to good management. You can be assured that Comac Retail Property Group offer a comprehensive management service that will ensure maximum return on your asset.
Our services include but are not limited too:
Financial Reporting
Accuracy and timely reporting is a non negotiable. We use Yardi as our Financial Management software, a cloud-based Windows platform that is mobile and can be used just as easily on site or remotely. Some of the reports we are able to deliver include (but are not limited to):
Income and Expenditure Budgets
Tenant Invoices
Collection of all rentals and monies due
Monthly Management Reports
Tenancy Schedules
Lease Administration
Critical Dates & Notification Tracking
Trust Account & Associated Auditing
We proudly process all of our financial data in Melbourne and discourage the use of offshore labour that results in poor standards and delays.
Leasing / Vacancies
Comac Retail Property Group has a solid reputation when it comes to leasing. Unlike other agencies that predominantly adopt a scatter gun approach with no focus on mix and tenant viability/sustainability, Comac Retail Property Group will review each asset to deliver for you:
Right Usage
Right Tenant
Right Location
This results in a sustainable tenant at realistic occupancy costs that proactively promote their business and engage with the Centre/s and its promotions. Having this strategic approach maximises rental income and asset value for the Landlords, delivering moderate capital costs whilst ensuring the aesthetics and sustaining the value of the asset.
Arrears
Comac Retail Property Group will work with tenants and landlords alike for sound solutions whether that be via abatements, payment plans, assignments or exit strategies.
Critical tenants would be assessed for their value and viability from the following:
Tenancy mix - Usage
Current sales and capacity for growth
Capital - financial viability of Tenant
Capital Invested - Landlord
Centre participation (marketing initiatives)
Viability for sale/assignment
Remaining lease term
Potential mediation (SBC)
Trade Area Analysis
A key in any asset strategy is understanding the Centres trade area and characteristics. This ensures the success of the Leasing and Marketing of the Centre. It is imperative with increased competition from online sales and diverse ethnicity and financial dynamics that every Centre understands its point of difference.
We utilise GapMaps software to provide a detailed insight into each property. We can identify:
Defined trade area boundaries
Trade area population
Supportable retail by area
Retail spend capability
Population growth forecasts
Demographic profiles by individual and households
We analyse the data and findings and interpret what this means for each asset. The results drive tenancy mix, projected sales and subsequent rents.
Risk Compliance
Comac use LinkSafe as our contractor management program. A cloud-based system that puts the responsibility back onto the contractor rather than taking up valuable resources that can be better utilised.
Inductions are tailored to each workplace, taking into account site and organisational policies, procedures and practices. LinkSafe makes inductions for contractors, employees and volunteers easy with their user-friendly, 24/7 access, online induction system. Safety awareness and compliance improvements are effortlessly achieved with programmed verifications, record-keeping and automated expiry and renewal monitoring.
LinkSafe induction benefits:
Easy and convenient to use
Improves safety awareness and compliance
Inductions are verified and recorded as they occur
Automated monitoring for expiry and renewals
Save time and costs - logistics and venues, no more face to face interviews
Self-registration convenience for inductees - available online 24/7
Record keeping for compliance - peace of mind management
Transition
Comac Retail Property Group completely understands the difficulty in change and the importance of a seamless handover process and the implications that are evident to all stakeholders.
Comac Retail Property Group’s senior team will take leadership of the process, ensuring that the asset is well protected and all information relevant to the asset including operations, leasing, financial and marketing is collected and stowed.
Comac Retail Property Group will provide a comprehensive list of items required to ensure a smooth transition that will provide a comprehensive understanding (even if the outgoing agency does not totally comply). The key to sound transition is understanding where the complications lay. Below are some of the issues that can be identified once handover has been completed:
Missed rent reviews
Lease expiries and missed options
Unbilled turnover rents - especially majors
Incorrect outgoings charges (particularly Majors)
Direct recoverables such as Council rates, water rates and Land Tax (if applicable) not on charged
Extended trading charges not recovered
Outstanding Bank Guarantees
Similar issues are identified in Contractor Management and compliance.
If you would like to discuss how Comac Retail Property Group can take your asset to the next level, please do not hesitate to get in touch with us via the links below or contact Michael Haddrick - 0411 468 660 or michaelh@comac.com.au.