The year has, once again, been very productive. The retained residential properties are in good repair and most are let.
The only property currently not let is Flat 13. Minor remedial works, following a long term rental, are currently being carried out. The flat should then be marketed before the end of the year. All the office premises and car park spaces are fully let.
Maintenance Schedule: The Board of Trustees are currently perusing the Tender Report prepared by Russen & Turner. A contractor will be appointed shortly with an intended start date of early Spring 2017.
The office space has been let since May this year. A firm of solicitors appear to be excellent tenants having signed a three year contract.
One retained flat has recently become vacant after a considerably long term rental. Again, remedial works are being carried out prior to marketing the property as soon as practicable.
77 London Road
The Trust has just acquired the Leasehold of one of the flats and is about to exchange on another. The intention is then to increase our rental revenue in the very near future.
Trust members have been avidly pursuing various lines of enquiry regarding properties that would justify our attention. However, so far none has progressed to negotiation stage. I remain confident that through working with our partners in the Borough Council and the Townscape Heritage Initiative, we will be engaged on an exciting new project by next year.
General repair and redecoration has been carried out where necessary throughout the year.
The Trust has continued to be represented at the Borough Council’s Conservation Areas Advisory Panel and the St Margaret’s Townscape Heritage Initiative Partnership Board.
Our grateful thanks go to everyone who has made a contribution to the smooth running of the Trust and its properties this year.