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Cabot Circus, Bristol
Service Charge Forecast01 January – 31 December 2012
Gross Lettable Area 838,884 square feetDate opened 25 September 2008Annual footfall 19.6 million
2
Service Charge Booklet
Contents:
Executive Summary
Service Charge Budget Schedule
Allocation of Costs
Summary of Variances
Additional Information
Asset Management System (Major Works)
Apportionment Schedule
Contacts
Introduction
Welcome to this improved Service Charge expenditure booklet, which specifically provides details of
our forecast of Service Charge costs for next year. This booklet relates only to the Cabot Circus Service
Charge budget, and contains schedules showing next year’s budget against the budget for this year
with an explanation of any significant variances.
The overall Bristol Alliance estate is a 1.5 million square foot mixed development, occupying a 36 acre site.
It is owned by the Bristol Alliance a joint venture between Land Securities and Hammerson. The scheme
includes over 220 retail stores, cinema, restaurants, cafes, car park and apartments.
The main areas of the scheme are the glazed streets known as Cabot Circus and anchored by House of
Fraser and Cinema de Lux and the open retail built around the historic buildings of the Friary and known
as Quakers Friars. Additional areas are those external to the scheme which covers Broadmead, Penn
Street and The Horsefair.
We trust that you will find the information useful; it is supplemented by the “Principles and Explanatory
Notes” booklet which contains generic statements relevant to all our properties under the following
headings:
RICS Code of Practice
Service Charge Policy Statement
Generic Explanatory Notes
Consumer Marketing
Insurance
Senior Management Contact Details
3
Executive Summary
The total forecast expenditure for service charge year 1 January 2012 to 31 December 2012 is:
£4,487,498
This represents an increase of £73,384 (1.7%) on the budget for 2011 and a weighted rate per foot of
£6.71.
The focus for the 2012 budget will be on providing additional value in all services, keeping the service
charge at the minimum increase required, whilst achieving the desired standards. I have included the
attached graph to show the 2012 budget in the context of historical levels of expenditure.
4,100,000
4,150,000
4,200,000
4,250,000
4,300,000
4,350,000
4,400,000
4,450,000
4,500,000
4,550,000
2010 2011 2012
Budget Actual
Due to the 2008 and 2009 budgets being amalgamated to produce a 15 month budget, we currently
only have the 2010 budget as an accurate like for like comparison.
A scheme the scale of Cabot Circus typically takes several years to mature and stabilise. Whilst the
economy over the last few years has been difficult, Cabot Circus has been resilient and has continued
to gain and maintain momentum. An overall growth in sales performance has been achieved during
2010 and 2011 we expect this trend to continue into 2012. Whilst 2010 saw an increase of 11% in
footfall, 2011 to November has decreased by 2%. This drop is in line with the regional and national
trend. However with the continued growth in sales the centre is well positioned for a potentially difficult
year ahead.
The Bristol Alliance has continued to support the performance of the centre by maintaining discounted
car parking tariffs, driving forward leasing deals, investing in the asset and continuing to make a
voluntary owners contribution of £80,000 to Destination Bristol, The City Centre Management
Company to enhance the marketing of Bristol as the premier shopping destination in the South West;
allowing Cabot Circus to capitalise on the increased footfall.
4
Leasing has continued to be driven forward with a number of quality lettings taking place in 2011
including; Foyles Book Shop, Oliver Bonas, Mamas and Papas, Mango, Pandora, Scribbler and KFC.
We have also delivered a number of Christmas Pop Up stores. These have been aimed at high
quality local galleries, arts and craft business to enhance the retail mix, to align Cabot Circus with local
arts organisations, creating a unique selling point and helping to integrate Cabot Circus into the local
community.
In 2011 The Bristol Alliance delivered a £700,000 improved signage and branding scheme. We
continue to invest in the centre with projects for 2012 including; improved lighting, relocation of the
customer service desk with new family focused services, improved landscaping and mall seating.
These works will be undertaken at the owner’s expense at a cost exceeding £550,000.
From an operational perspective, we have continued to work with our service partners to streamline
operations, create efficiencies and implement a number of improvements.
Costs for car park, mall retail and other commercial aspects are separated from the service charge. A
credit of £36,600 from Mall Retail is contributed to the service charge to account for any costs.
In 2011 Centre Management have taken significant steps to improve communications and create a
proactive relationship with all retailers. We are measured on this through an independent Retailer
Satisfaction Study and I am pleased to confirm that Cabot Circus, under my first year as Director, has
improved overall satisfaction to 96% an increase of +35% over the previous year. We will continue to
strive for improvements in these areas.
Our objectives for 2012 include working more closely with occupiers to support their business
requirements; aligning the centre objectives with key stakeholders; an increased focus on customer
services driving improved service and customer loyalty, and further targeted marketing to increase
footfall, dwell time and spend.
Kevin Duffy
Centre Director
T: 0117 952 9300
M: 07753 652 433
5
Service Charge Budget Schedule
Service Budget (£) Variance % Budget (£) Actuals (£)
2012 2011 2010
Management 1,176,811 5.7% 1,113,843 1,022,906
Management Fees 243,600 3.0% 236,460 197,470
Site Management Resources 910,408 6.1% 857,679 798,958
Health, Safety & Environmental 22,803 15.7% 19,704 26,478
Utilities 352,386 0.3% 351,432 310,850
Electricity 274,523 (0.7)% 276,468 262,113
Gas 12,479 (28.9)% 17,544 18,647
Water 65,384 13.9% 57,420 30,089
Soft Services 2,296,349 (1.2)% 2,325,218 2,424,882
Security 886,886 2.4% 866,064 948,290
Cleaning & Environmental 1,057,463 3.8% 1,019,150 1,042,592
Marketing & Promotions 352,000 (20.0)% 440,004 434,000
Hard Services 684,452 6.1% 645,053 564,492
Mechanical & Electrical Services 557,209 3.1% 540,521 454,060
Lift & Escalators 74,682 4.9% 71,208 66,561
Suspended Access Equipment 0 0.0% 0 1,113
Fabric Repairs & Maintenance 52,561 57.7% 33,324 42,758
Income (36,600) 0.0% (36,600) (20,852)
Income From Commercialisation (36,600) 0.0% (36,600) (20,852)
Insurance 14,100 (7.0)% 15,168 55,629
Engineering Insurance 14,100 (7.0)% 15,168 15,549
Al l Risks Insurance Cover 0 0.0% 0 40,080
TOTAL 4,487,498 1.7% 4,414,114 4,357,907
6
Allocation of Costs
CA
BO
TC
IRC
US
AL
LT
EN
AN
TS
RE
FU
SE
RE
MO
VA
L
SP
EC
IAL
UN
IT
Management 1,176,810.92 1,176,810.92 0 0Management Fees 243,600 243,600 0 0
Management Fees 243,600 0 0 0
Site Management Resources 910,408 910,408 0 0Staff Costs 647,570 0 0 0
Site Offices/Accommodation 262,838 0 0 0
Health, Safety & Environmental 22,803 22,803 0 0Health & Safety 22,803 22,803 0 0
Utilities 352,386 352,386 0 0Electricity 274,523 274,523 0 0
Electricity Lighting 274,523 274,523 0 0Gas 12,479 12,479 0 0
Gas 12,479 12,479 0 0
W ater 65,384 65,384 0 0Water 65,384 65,384 0 0
Soft Services 2,296,349 2,170,661 125,688 0Security 886,886 886,886 0 0
Security 886,886 886,886 0 0
Cleaning & Environmental 1,057,463 931,775 0 0Cleaning 765,420 765,420 0 0
Waste Management 125,688 125,688 0
Housekeeping / Sundry Costs 73,368 73,368 0 0Seasonal Decorations 92,987 92,987 0 0
Marketing & Promotions 352,000 352,000 0 0
Hard Services 684,452 684,452 0 0Mechanical & Electrical Services 547,004 547,004 0 0
Fire Precautions Maintenance 89,516 89,516 0 0Fire Precautions Repairs 13,260 13,260 0 0
General Engineering Maintenance 317,297 317,297 0 0General Engineering Repairs 39,082 39,082 0 0
Lighting/Electrical Maintenance 9,415 9,415 0 0
Lighting/Electrical Repairs 20,000 20,000 0 0General Machinery 58,434 58,434 0 0
Lift & Escalators 74,682 74,682 0 0
Lift/Escala tor Maintenance 74,682 74,682 0 0Fabric Repairs & Maintenance 52,561 52,561 0 0
Internal Maintenance 27,502 27,502 0 0
External Maintenance 25,059 25,059 0 0Suspended Access Equipment 10,205 10,205 0 0
Suspended Access Equipment 10,205 10,205 0 0
Income (36,600) (36,600) 0 0Income From Commercialisation (36,600) (36,600) 0 0
Insurance 14,100 14,100 0 0Engineering Insurance 14,100 14,100 0 0
TOTAL 4,487,498 4,361,810 125,688Less: Special Unit Contribution (1,326) 1,326
Total 4,487,498 4,360,484 125,688 1,326
7
Summary of Variance
Service Budget 2011 Budget 2012 Variance £ Variance %
Management 1,113,843 1,176,811 62,968 5.7%
In order to improve the effectiveness of the centre management team, provide a robust IT system security and to
keep the IT platform current, the internal IT systems were moved from Cabot Circus servers to Land Securities
networks in 2011. This has resulted in an increase to the IT maintenance charge.
Business rates imposed by Bristol City Council have seen a significant rise of £7,886 (13.6%). This is currentlyunder review by an independent specialist company.
Some additional new costs for improved customer service, signage and staff recruitment has been included in thiscost heading.
Service Budget 2011 Budget 2012 Variance £ Variance %
Utilities 351,432 352,386 954 0.3%
Land Securities has undertaken a thorough review of electricity procurement which has resulted in the decision to
change from a fixed to a flexible contract. It is our view that this will ensure we are able to achieve best value in a
volatile market.
By closely monitoring 2011 actual energy usage and costs and basing 2012 budgets on these, plus using a
proactive approach to energy management, despite energy prices being predicted to rise in 2012, we do not
anticipate a substantial increase in this budget.
Service Budget 2011 Budget 2012 Variance £ Variance %
Soft Services 1,885,214 1,944,349 59,135 3.1%
To remain competitive with the local market and retain high calibre employees, we have proposed an index linked
increase of 2%.
The pest control contract was retendered and awarded to Rentokil. Pest control measures were re-evaluated as
part of the tender process and changes have been implemented to reflect increased requirements
8
Service Budget 2011 Budget 2012 Variance £ Variance %
Marketing 440,000 352,000 (88,000) (20.0%)
Land Securities have undertaken a review of marketing budgets across the UK portfolio of shopping centres.
Cabot Circus marketing budget for the financial year January to December 2012 has been reduced by 20% from
the 2011 cost. Changes have been made in the following areas; staffing, research, advertising and agencies
costs, restructure of the marketing department, appointment of CACI to undertake research, a new portfolio wide
website project and appointment of regional agencies. The 2012 budget is in line with other centres of a similar
size within our portfolio and all marketing expenditure will be monitored and reviewed regularly, to ensure value for
money and measureable return on investment.
Service Budget 2011 Budget 2012 Variance £ Variance %
Hard Services 645,053 684,452 39,399 6.1%
The contingency repair budgets have been increased to reflect the age of the building. Increased costs have been
sustained as a result of third party damage to back of house areas, this is being closely monitored to identify
offenders and take appropriate mitigation action.
The Mechanical, Electrical and Building Fabric contract will be re tendered and implemented by April 2012. Taking
this into consideration a retail price index increase has been applied to all maintenance contracts.
Service Budget 2011 Budget 2012 Variance £ Variance %
Insurance 15,168 14,100 (1,068) (7.1%)
Insurance contracts were re tendered in June 2011, exposing the contracts to the market has resulted in this cost
saving. Aviva have been appointed as best value provider.
9
Additional Information
Apportionment [and Schedules]
Cabot Circus shares a number of services and management time with Quakers Friars, where these
are shared solely by both centres an 88/12% split respectively has been made. This allows us to
minimise expenditure whilst ensuring continuity between both developments. Where costs relate
specifically to one development these are allocated exclusively to that cost centre, i.e. escalator costs
to Cabot Circus.
The apportionment of the service charge payable by the retailers is calculated by reference to the
‘weighted gross internal floor area’ of the unit, expressed as a percentage of the total weighted gross
internal area of all lettable units. A variable location discount has been applied to some of the units as
appropriate to reflect the degree of benefit of service. The following percentage multipliers apply:
First 0,000 To 6,500 100%Next 6,501 To 16,000 85%Next 16,001 To 32,000 75%Next 32,001 To 50,000 55%Next 50,001 To 75,000 50%
Remainder 45%
RemoteStore
50%
Total Cost of Management (TCoM)
We understand that many occupiers benchmark landlords by comparing them on the basis of the Total
Cost of Management as represented by adding together the Management Fee and Site Management
Resources lines from the service charge budget schedule and expressing this figure as a percentage
of the total service charge. In this instance the percentage would be 25.7%.
We believe that different landlords include various different costs within these headings and therefore
a true comparison is difficult to achieve. In this budget the following operational costs are included
which if removed reduce the TCoM percentage to 21%.
Technical Services Manager and associated ‘on-costs’
Customer Services staff with associated ‘on-costs’
10
Service Partners
Key services are provided by the following service providers:
Service Service Partner Contract Duration Next Re-tender
Security OCS 3 Years December 2013
Cleaning OCS 3 Years December 2013
Customer Service OCS 3 Years December 2013
Waste Management Sita 3 Years June 2013
MEBF Services Integral 3 Years March 2012
Lifts & Escalators Otis/Kone 3 Years April 2014
Security, Cleaning and Customer Service
Considerable work has been undertaken with OCS to align more closely the Security, Cleaning and
Customer Service operations. A Contracts Manager has been appointed to oversee all OCS
operations; ensuring a consistent high level of service is delivered, the focused and centralised
customer service training strategy is effectively implemented, creation of a 24/7 on site duty supervisor
role to maintain standards at all times. A centre security patrol monitoring system has recently been
installed, allowing us to ensure security officers are deployed effectively and all areas are covered.
Waste Management
An emphasis on reduction of waste costs and improved recycling continues; see environment below.
Mechanical, Electrical and Building Fabric (MEBF)
This contract was due to be retendered in December 2011, however it has been held over until April
2012 allowing us to align with a regional and national tender process, which should assist us by
producing economies of scale to gain a competitive edge for the centre, whilst improving service
provision.
Lift & Escalators
A new service contract has been negotiated, which has enabled us to maintain the current costs.
Training
Land Securities has launched an On Brand staff training programme, including all service providers
and Centre Management. This has been designed to enhance the customer experience, empowering
staff to deliver service that exceeds customer’s expectations and gaining vital customer loyalty.
A revised mystery shopper programme, funded by the owners, has been implemented; results from
this will be used to enhance customer service training and mall standards.
11
Environmental Achievements
Working with occupiers, we have recently made significant improvements to recycling and now divert
94% of waste from landfill. Initiatives implemented include; a food segregation trial, general
improvement of segregation through improved retailer partnerships. 2012 will see introduction of
additional initiatives including a trial of Waste 2 Water food digestion system and the continued use of
the local Materials Recovery Facility (MRF).
Utilities
Electricity
Occupiers are responsible for electricity provision within their demise which is provided through
individual meters. Occupiers contribute through the service charge toward the electricity provided
within the common areas.
Water
Occupiers have individual sub meters which feed off the main landlord water meter. Meter readings
from the sub meters are taken on the 1st of each month and occupiers are then charged directly for
the water that’s been consumed within their demise. Occupiers also contribute to the water
consumption for the water in the common areas.
Focus continues on energy and carbon emission reduction through proactive building management
and energy saving initiatives.
12
Marketing
The marketing strategy continues to drive for market share, footfall, increased dwell time and spend.
As in 2011, we will provide retailers with a detailed marketing and events calendar, including centre
promotions and marketing activity, city centre and regional events and festivals, notable movie
launches and where possible mall retail (commercialisation) promotions. This is designed to ensure
retailers have sufficient time to become involved in, and capitalise on, all relevant marketing and
promotional activity.
We will also continue to work closely with key city centre stakeholders to implement, where possible,
city wide marketing strategies to maximise marketing impact whilst minimising spend.
50% of the marketing costs are paid for by the Landlord. Planned expenditure for 2012 is as follows:
Budget £
Advertising155,866
Print & Production92,483
Mall Promotions/Events123,200
Digital8,782
Creative Agency Fee99,428
Consumer PR Fee67,774
CR0
Salaries102,613
Research12,760
Other10,294
Seasonal Promotions30,800
TOTAL 704,000
13
Community Activity (CR)
Cabot Circus has an on going programme of community integration including:
ARISE, the Alliance to Reward Initiatives and Social Enterprise; an initiative funded by the
owners to provide grass root funding support for local charity and not for profit organisations
Work placements through our service partners; providing opportunities for young people in
preparation for work life
Education programme; working with local schools to help build curriculum activity around
Cabot Circus business model
Nomination of a national and local charity, so fund raising efforts are focussed and make a
meaningful difference.
These strategies are designed to integrate Cabot Circus with the local community, gaining loyalty and
recognition of community support.
2012 will see these programmes refined and honed to ensure support is maximised. We will review
the ARISE strategy to ensure this is meeting the needs of the local community. We will also be
reviewing the national and local charity support as the current arrangements comes to an end in
March 2012.
14
Asset Management System (Major Works)
Due to the age and robust finishes used in the centre there is no major works scheduled for 2012 or
the next five years.
15
Apportionment Schedule
.All Tenants Refuse Total
Service Charge Budget 4,361,810 125,688 4,487,498
Defined Unit Contribution 1,326 1,326
Balance to Apportion 4,360,484 125,688 4,486,172
Tenant Address All Tenants Refuse All Tenants Refuse Total
House of Fraser Lower Ground 91,971 597,121.44 597,121.44
Hollister Co (UK) Limited Lower Ground 8,727 8,727 56,660.21 1,892 58,552.53
American Apparel (Carnaby) Limited 1st Floor 4,841 4,841 31,430.28 1,050 32,479.98
Puma United Kingdom Ltd Lower Ground 3,604 3,604 23,399.04 781 24,180.51
Schuh Limited Lower Ground 7,200 7,200 46,743.21 1,561 48,304.33
Diffusion (Franchises) Limited Lower Ground 4,130 4,130 26,814.10 896 27,709.63
River Island Clothing Co Ltd Lower Ground 11,779 11,779 76,472.13 2,554 79,026.13
Oakley UK Ltd Lower Ground 3,201 3,201 20,782.55 694 21,476.64
Guess UK Ltd Lower Ground 2,437 2,437 15,822.27 528 16,350.70
A/ Wear Ltd Lower Ground 5,352 5,352 34,747.96 1,161 35,908.46
JD Sport Fashion PLC Lower Ground 5,909 5,909 38,364.29 1,281 39,645.57
JN Realisations (In Administration) Lower Ground 2,697 2,697 17,510.32 585 18,095.13
Republic (Retail) Ltd Lower Ground 8,539 8,539 55,440.59 1,852 57,292.18
VF Northern Europe Ltd Lower Ground 3,477 3,477 22,574.49 754 23,328.42
Monsoon Accessorize Ltd Lower Ground 9,058 9,058 58,806.96 1,964 60,770.98
Henley's Retail Ltd (In Administration Lower Ground 3,249 3,249 21,094.19 704 21,798.69
Azendi Limited Lower Ground 2,372 2,372 15,400.25 514 15,914.59
Game Stores Group Limited Lower Ground 2,364 2,364 15,348.31 513 15,860.91
Bank Fashion Ltd Lower Ground 3,107 3,107 20,172.25 674 20,845.96
TM Lewin & Sons Limited Lower Ground 2,067 2,067 13,420.04 448 13,868.23
Barratts Shoes Properties Limited Lower Ground 2,529 2,529 16,419.58 548 16,967.96
The Disney Store Ltd Lower Ground 2,379 2,379 15,445.70 516 15,961.55
Carphone Warehouse Ltd Lower Ground 2,325 2,325 15,095.10 504 15,599.25
T&E Ferris Limited Lower Ground 2,189 2,189 14,212.12 475 14,686.78
La Senza Ltd Lower Ground 3,883 3,883 25,210.45 842 26,052.42
Next Plc Lower Ground 28,574 28,574 185,518.84 6,196 191,714.76
Esprit GB Ltd Lower Ground 7,331 7,331 47,598.60 1,590 49,188.29
Optical Express (Southern) Limited Lower Ground 9,880 9,880 64,149.00 2,142 66,291.44
Aldo UK Ltd Lower Ground 1,750 1,750 11,361.91 379 11,741.37
H&M Hennes & Mauritz UK Ltd Lower Ground 25,511 25,511 165,629.01 5,532 171,160.65
Top Shop / Top Man Properties Ltd Lower Ground 22,011 22,011 142,908.44 4,773 147,681.27
DSG Retail Limited Lower Ground 11,776 11,776 76,455.57 2,553 79,009.02
MNG-Mango UK Limited Lower Ground 2,354 2,354 15,283.39 510 15,793.82
A Jones & Sons Limited Lower Ground 3,232 3,232 20,983.82 701 21,684.63
KAST Retail Limited Lower Ground 2,312 2,312 15,010.70 501 15,512.03
Body Shop International plc Lower Ground 1,878 1,878 12,192.95 407 12,600.17
Aurum Group Ltd Lower Ground 2,468 2,468 16,023.53 535 16,558.69
Soho Coffee Shops Ltd Lower Ground 2,762 2,762 17,932.34 599 18,531.24
Ernest Jones Ltd Lower Ground 2,095 2,095 13,601.83 454 14,056.10
VOID Lower Ground 2,001 2,001 12,991.53 434 13,425.42
Arcadia Group Ltd Lower Ground 3,771 3,771 24,483.29 818 25,300.97
Americana International Ltd Lower Ground 2,897 2,897 18,808.83 628 19,437.00
C Retail LLP Lower Ground 10,166 10,166 66,003.26 2,204 68,207.63
URBV UK Limited Lower Ground 12,832 12,832 83,309.72 2,782 86,092.08
Burton / Dorothy Perkins Properties Ltd Upper Ground 17,320 17,320 112,450.42 3,756 116,206.01
Zara UK Ltd Upper Ground 19,724 19,724 128,056.81 4,277 132,333.62
Warehouse Retail Ltd Upper Ground 2,885 2,885 18,727.67 625 19,353.13
Fossil (UK) Ltd Upper Ground 1,463 1,463 9,498.55 317 9,815.78
Orange Retail Ltd Upper Ground 1,761 1,761 11,433.32 382 11,815.17
Hotel Chocolat Stores Ltd Upper Ground 1,787 1,787 11,602.13 387 11,989.62
Harvey Nicolls (Own Brand) Stores Ltd Upper Ground 3,827 3,827 24,846.87 830 25,676.70
Krispy Crème Upper Ground 1,368 1,368 8,881.76 297 9,178.40
H Samuel Ltd Upper Ground 2,163 2,163 14,043.32 469 14,512.33
JJB Sports Plc Upper Ground 14,483 14,483 94,032.44 3,140 97,172.92
VOID Upper Ground 10,063 10,063 65,334.21 2,182 67,516.23
Nationwide Building Society Upper Ground 5,067 5,067 32,897.59 1,099 33,996.30
Vodaphone Ltd Upper Ground 2,257 2,257 14,653.61 489 15,143.01
Pret a Manger (Europe) Ltd Upper Ground 4,053 4,053 26,314.18 879 27,193.01
Café Rouge Ltd Upper Ground 5,426 5,426 35,228.40 1,177 36,404.95
Claire's Accessories UK Ltd Upper Ground 2,197 2,197 14,264.06 476 14,740.45
Holland & Barrett Retail Ltd Upper Ground 2,310 2,310 14,997.72 501 15,498.61
3UK Retail Ltd Upper Ground 2,324 2,324 15,088.61 504 15,592.54
Swarovski UK Ltd Upper Ground 2,318 2,318 15,049.66 503 15,552.28
New Look Retailers Ltd Upper Ground 28,224 28,224 183,247.76 6,120 189,367.83
La Boheme Limited (In Administration) Upper Ground 4,968 4,968 32,254.83 1,077 33,332.07
Fraser Hart Ltd Upper Ground 2,131 2,131 13,835.56 462 14,297.63
DSG Retail Limited Upper Ground 4,630 4,630 30,060.36 1,004 31,064.31
VOID Upper Ground 2,959 2,959 19,211.36 642 19,852.98
O Fashions Prop Co Ltd Upper Ground 3,222 3,222 20,918.89 699 21,617.54
Pumpkin Patch Limited Upper Ground 3,240 3,240 21,035.76 703 21,738.31
Factors Forecast
16
Apportionment Schedule
Tenant Address All Tenants Refuse All Tenants Refuse Total
HSBC Bank PLC Upper Ground 14,748 14,748 95,748.41 3,198 98,946.20
Sonex Communications Plc 1st Floor 1,529 1,529 9,927.06 332 10,258.60
Costa Ltd 1st Floor 1,945 1,945 12,627.95 422 13,049.69
VOID 1st Floor 1,751 1,751 11,368.40 380 11,748.08
Dwell Retail Ltd 1st Floor 8,074 8,074 52,421.89 1,751 54,172.67
VOID 1st Floor 1,248 1,248 8,102.66 271 8,373.27
Explore Learning Ltd 1st Floor 1,139 1,139 7,394.98 247 7,641.95
Starbucks Coffee Co UK Ltd 1st Floor 3,126 3,126 20,295.61 678 20,973.44
Gourmet Burger Kitchen Ltd 1st Floor 2,287 2,287 14,848.39 496 15,344.29
T & G Fast Foods Developments Limited 1st Floor 1,424 1,424 9,245.35 309 9,554.12
Yo! Sushi UK Ltd 1st Floor 2,504 2,504 16,257.27 543 16,800.22
Herbal (Northern) Ltd 1st Floor 2,485 2,485 16,133.91 539 16,672.74
VOID Mezzanine Floor 1,952 1,952 12,670.15 423 13,093.30
Ossians Care Limited 1st Floor 15,014 15,014 97,477.05 3,256 100,732.56
The Entertainer (Amersham) Ltd 1st Floor 8,150 8,150 52,913.05 1,767 54,680.23
Giraffe Concepts Ltd 1st Floor 3,191 3,191 20,717.63 692 21,409.55
Bella Italia Restaurants Ltd 1st Floor 2,591 2,591 16,822.11 562 17,383.94
Nandos Chickenland Ltd 1st Floor 2,766 2,766 17,958.31 600 18,558.07
La Tasca Restaurants Ltd 1st Floor 3,467 3,467 22,509.56 752 23,261.33
City Centre Restaurants (UK) Ltd 1st Floor 5,774 5,774 37,487.80 1,252 38,739.81
Tampopo Ltd 1st Floor 2,341 2,341 15,198.99 508 15,706.60
Ask Restaurants Ltd 1st Floor 3,135 3,135 20,354.04 680 21,033.82
Charterhouse Leisure Limited 1st Floor 3,437 3,437 22,314.79 745 23,060.05
NATL Amusements (UK) Ltd Upper Ground 57,836 57,836 375,503.88 12,541 388,044.88
Costa Coffee Upper Ground 1,058 1,058 6,869.08 229 7,098.50
Samir Hourizi & Abderrahamne Hourizi Upper Ground 655 655 4,252.60 142 4,394.63
Thomas Sabo Ltd Lower Ground 577 577 3,746.18 125 3,871.30
Zu-Cabot Limited Upper Ground 196 196 1,272.53 42 1,315.03
Scribbler Holdings Ltd Lower Ground 313 313 2,032.16 68 2,100.03
Millies Cookies Ltd Lower Ground 259 259 1,681.56 56 1,737.72
Splended Milkshakes (In Administration) Upper Ground 299 299 1,941.26 65 2,006.10
TYI Ltd (In Administration) Upper Ground 295 295 1,915.29 64 1,979.26
The Perfume Shop Upper Ground 594 594 3,856.56 129 3,985.36
Model Eyebrows Limited to 16/11/09 Unit K20 Glass Walk 230 230 1,493.28 50 1,543.15
Tan Trang Vu to 10/11/09 Unit K21 Glass Walk 276 276 1,791.94 60 1,851.78
VOID Unit K22 Glass Walk 274 274 1,778.95 59 1,838.36
Sky Retail Stores Limited Promotions Kiosk/Area 170 170 1,103.73 37 1,140.59
VOID Lower Ground - Remote store 247 247 1,600.41 53 1,653.86
Costa Coffee Lower Ground - Remote store 175 175 1,132.94 38 1,170.78
Perfume Shop Lower Ground - Remote store 131 131 847.27 28 875.57
Millies Cookies Ltd Lower Ground - Remote store 63 63 405.78 14 419.33
Zu-Cabot Lower Ground - Remote store 63 63 405.78 14 419.33
VOID Lower Ground - Remote store 108 108 697.95 23 721.26
Millies Cookies Ltd Lower Ground - Remote store 49 49 318.13 11 328.76
TYI Ltd (In Administration) 1st Floor - Remote store 55 55 353.84 12 365.66
VOID 1st Floor - Remote store 52 52 334.36 11 345.53
VOID Remote Store 45 Cabot Circus 296 296 1,921.79 64 1,985.97
VOID Remote store 46 Cabot Circus 76 76 493.43 16 509.91
VOID Remote store 47 Cabot Circus 57 57 366.83 12 379.08
VOID Remote store 48 Cabot Circus 124 124 801.83 27 828.61
VOID Remote store 49 Cabot Circus 26 26 168.81 6 174.44
VOID Remote store 50 Cabot Circus 25 25 162.31 5 167.73
VOID Remote store 51 Cabot Circus 24 24 152.57 5 157.67
MNG-Mango UK Limited Remote Store 60A Cabot Circus 197 197 1,275.78 43 1,318.39
MNG-Mango UK Limited Remote Store 60B Cabot Circus 142 142 921.94 31 952.73
T& G Fast Foods Developments Limited Mezzanine Storage 101 101 655.74 22 677.64
Aldo UK Ltd Remote Store 301 247 247 1,600.41 53 1,653.86
La Senza Ltd Remote Store 201 233 233 1,509.51 50 1,559.92
VOID Remote Store RS 231 Cabot Circus 225 225 1,460.82 49 1,509.60
Bella Italia Restaurants RS 311 - Upper Ground 515 515 3,343.65 112 3,455.32
VOID Mezzanine - Behind pret 308 308 1,996.45 67 2,063.13
VOID Mezzanine - Remote Store 448 448 2,905.40 97 3,002.44
Sonex Communications Plc 1st floor - RS 521 202 202 1,308.24 44 1,351.93
VOID Mezzanine - from SU66 1,027 1,027 6,664.57 223 6,887.15
River Island Clothing Co Ltd 3rd Floor - Remote store 293 293 1,902.31 64 1,965.84
Charterhouse Leisure Limited 3rd Floor - Remote store 200 200 1,298.50 43 1,341.87
VOID Remote Store RS 642 Cabot Circus 896 896 5,817.30 194 6,011.58
VOID Remote Store RS 643 Cabot Circus 391 391 2,538.57 85 2,623.36
VOID Remote Store RS 365 365 2,366.52 79 2,445.56
Total 671,617 579,646 4,360,484 125,688 4,486,172.31
Factors Forecast
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Contacts
The Team responsible for Cabot Circus are:
Kevin Duffy | Centre DirectorT: 0117 952 9300
M: 07753 652433
Over all responsablity for the effective strategic direction of the centre within the service charge
budget.
Stephanie Lacey | Centre ManagerT: 0117 952 9300
M: 07725 785081
Responsible for all aspects of the day to day operational management of the shopping centre.
Gavin Murray | Portfolio ManagerT: 020 7024 5406
M: 07764 286580
Responsible for dealing with occupational space requirements, lettings, tenant mix, refurbishment and
development matters.
Gill Benson | Management SurveyorT: 020 7024 5179
M: 07808 908198
Responsible for the consideration of tenants’ applications for landlord consents in respect of
assignments, sub-lettings, alterations and general enquiries regarding leases.
Marcea Clarke | Property AccountantT: 0207 024 5242
Responsible for the administration of the Service Charge - the apportionment of charges, the
annual reconciliation and the processing and allocation of invoices.
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The details of the remainder of the on site team is as follows:
Craig Carter | Technical & Services ManagerT: 0117 952 9300
M: 07702 261999
Responsible for the day to day management of the hard and soft services contracts.
Melanie Bruce-Roberts | Marketing ManagerT: 0117 952 9300
M: 07525 238 177
Responsible for all aspects of marketing.
Alex Herd-Smith | Retail Liaison ManagerT: 0117 952 9300
M: 07595 069577
Responsible for all retail liaison.
Hayley Poland | Centre CoordinatorT: 0117 952 9300
Responsible for all aspects of accounts and administration.
Norman Ship | Car Park ManagerT: 0117 952 9300
M: 07515 607488
Responsible for all non recoverable aspects, including car parks and mall retail.
