One Thames Valley House, Bracknell
Overview of property
One Thames Valley House in Bracknell is an impressive multi-let office building completed in 2002 providing 75,293 sq ft of accommodation arranged over three floors around a central courtyard. There is a large roof terrace at second floor level and a decked car park providing 264 on site spaces equating to an excellent ratio of 1:277 sq ft. It is situated in a prominent position in one of the key commercial locations within the town.
The property was purchased by Clearbell in February 2015 and prior to purchase Ashdown Phillips assisted the client with due diligence as well as providing service charge consultation for the acquisition.
Ashdown Phillips' Main Objectives
- Swiftly and seamlessly mobilise FM services following the cancellation of all previous contracts on completion of the purchase by the client
- Support the client’s rebranding and marketing strategy for the building by transforming the delivery of facilities services from what was historically in place and thereby cement Ashdown Phillips’ position as the property management company of choice for our client
- Engage with the existing tenants in a visible and transparent way to improve communication and relationships
How we achieved it
The successful mobilisation of FM services was based on our ability to leverage relationships with trusted suppliers who at very short notice were able to ready themselves for delivery on day one. Put simply, we took a one team approach so that all service providers were brought together and briefed in advance of the purchase. Many of these suppliers already worked with us at other flagship sites, so we were able to channel their experience and understanding of how to deliver high quality, cost effective and best practice services as an integrated team.
We also took the time to meet with all of the tenants on a one to one basis on the first day and personally introduced the Ashdown Phillips management team responsible for the building. During the first 90 days of our instruction, we visited tenants on a weekly basis to build confidence and trust with our key stakeholders – the client, the tenants and our suppliers.
Managing future developments
Our client has already started to invest in the improvement of the working environment at One Thames Valley House. Visual rebranding of the building, refurbishment of vacant office areas, main reception, WCs and showers and a new coffee bar will all be delivered in the first 6 months of ownership. Ashdown Phillips is playing a key role in support of these projects: as a member of the client’s project advisory team; as the primary communicator of project announcements, updates and explaining the benefits to tenants “on the ground”; and to ensure that the building continues to function without interruption during the delivery of these multiple and simultaneous projects.
Ashdown Phillips will continue to stabilise and refine the facilities offering to tenants and a number of new developments are in the pipeline. These include the implementation of concierge style services such as dry cleaning, flowers and gifts and car valeting, based on the approach we have successfully delivered on other sites in our managed portfolio. There will also be improvements to the security systems infrastructure and external landscaping, both of which have been identified by us and recommended to the client as further opportunities to “enhance” the property.