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Primark

Primark

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Management of 60 Primark subletsPaul Gagan

Challenge

Eddisons are the property and asset managers for all 60 Primark sublets across the UK. This includes rent collection, service charge management, void property inspections, and general ad hoc services. We have been working with Primark for nearly 10 years.

Solution

Eddisons managed the transition of the Littlewoods portfolio into Primark. We analysed all costs and income to ensure they were correctly apportioned and accounted for between the two parties.

Eddisons collect rent and service charges as well as inspect the properties on a quarterly basis. We produce analytical reports to the Primark property team where we make specific recommendations to maximise the value of each asset.

Result

  • Eddisons has helped to manage Primark’s liabilities by maintaining a low void rate under 5%
  • Eddisons has a 99% success rate at collecting rent and service charges on time
  • Eddisons has also identified void rate savings of 45% totalling over £200k over 2 years

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