General

Half-year report: James McArthur, Director

As we enter the second half of the year, we’re taking a look back on the first six months in the commercial property world by asking our team how they’ve seen the market.

This week, it’s the turn of James McArthur, Director.

What’s your name and speciality at NG?
James McArthur – Asset Management Surveyor and Stat Man. I love a spreadsheet. Data drives decisions.

How was the first six months of the year in commercial property for you?
Extremely busy first part of the year and don’t see it calming down any time soon. The growth of our new block management department has been a welcome surprise but it is something that we have been steadily working on in the background for last 18 months ensuring all the required mechanics were in place to push this area of expertise.

What trends are you seeing emerging?
We are finding rent collection more challenging as tenants are slower in paying. This seems to be down to a number of reasons, including continuing rising costs and payments terms being extended. This all has a knock-on impact which effects the payment of rent. It shouldn’t do but it does. We are serving more CRAR and SCAR notices and more and more companies are falling into administration/liquidation

What are the biggest opportunities and challenges facing those with a property portfolio at present?
The biggest opportunity for NG at the moment is continuing with the growth of our block management department. A number of companies in Nottingham have pulled out of this discipline and this has opened a number of doors. There are exciting times ahead for us.

How do you see the second half of the year progressing?
I am trying to remain positive, however the second half of the year will follow the first; things will continue to be challenging in all sectors. I suspect as soon as winter hits there will be another tightening of belts as I believe utility costs will once again creep up as usage increases. Managing agents will need to be ahead of the game and ensuring that they are communicating with their tenants and clients before major issues arise.