DRUM REAL ESTATE INVESTMENT MANAGEMENT
Drum Property Group’s co-investment division, complements its risk-controlled development activity, with an entrepreneurial and proactive approach to asset management.
The division, Drum Real Estate Investment Management (DREIM), is based in Edinburgh.
In addition to providing asset management services for Drum's own extensive portfolio and a variety of third party mandates, DREIM began a process of significant UK expansion with the flotation of a new Real Estate Investment Trust called Drum Income Plus REIT (DRIP REIT) which started trading in May 2015, on the Main Market of the London Stock Exchange.
DREIM previously asset-managed a significant portfolio of commercial property for clients such as The Carlyle Group, Blackrock and FRP advisory.
The existing Drum management team has a strong track record of working in partnership with institutional clients. Drum is well-capitalised, and looks both to acquire assets on balance sheet and work with strategic joint venture partners where there are opportunities to co-invest in development or investment opportunities.
DREIM enables the group to build on this experience and potential to develop successful partnerships with like-minded companies to maximize returns and performance across investment, development and asset management projects.
Drum Income Plus REIT Plc (DRIP REIT) is an income focused real estate investment trust investing in regional commercial property assets.
The REIT is led by a highly experienced Board, and managed by DREIM. DREIM take an entrepreneurial yet prudent approach to real estate, investing with a clear focus on acquiring high quality assets across the UK which provide good value, healthy cash flow and significant capital and income growth potential for DRIP REIT. With the first tranche of investments concluded, DREIM is currently pursuing a strong pipeline of property to expand the DRIP REIT portfolio.
For more information visit our DRIP REIT website.
Drum owns and manages a portfolio of over 150 residential properties across the major conurbations of Scotland, making the Group one of the largest independent residential landlords in the country.
Appointed by the Administrator, FRP Advisory, to actively manage the diverse portfolio of Assets, establish a Business Plan and ultimately sell the properties at the optimum time.
The portfolio was geographically spread from Edinburgh to Forres in the north of Scotland and presented various challenges as the portfolio was previously managed in-house with little property expertise.
Stringent accounting procedures were established and service charge budgets were reviewed and aligned with Planned Preventative Maintenance Schedules.
As the assets were tertiary with limited Investor Demand a pro-active Asset Management approach was adopted in order to improve marketability wherever possible.
The assets were sold at the end of 2014.
Working on behalf of The Carlyle Group we acted as Asset Managers for Tanfield which is a 190,000sqft high quality office refurbishment in Edinburgh.
During our involvement we increased tenant engagement by carrying out a tenant survey and thereafter introducing suggestions from the tenant survey such as a café let to Galway Gourmet, a gym let to Anytime Fitness, increasing dwell time in the large atrium and also opening up direct access to the fantastic gardens which overlook the water of Leith.
Significant lettings were achieved to Zonal and FNZ with the rental tone being established.