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GAS DEAL EASES FINANCIAL PRESSURE AS ENERGY PRICES SOAR

Property consultant secures “bulk buy” utilities contract to help commercial tenants

With energy bills set to skyrocket over the next few years international property consultant King Sturge has taken steps to minimise the economic impacts on commercial tenants.

The firm‘s Asset Management team has struck a utilities deal for its gas supplies with energy consultants Power Efficiency which should save tenants in its UK commercial property portfolio of more than 250 buildings millions over the next three years.

Lucinda Tippetts, Head of King Sturge‘s Asset Management Team in Bristol explained why the firm had chosen to team up with Power Efficiency.

“We apply common sense and careful research to every building we manage and are always looking for ways to give tenants the best possible value for money,” she said.

“As we all know the energy markets can be extremely volatile and it‘s fairly common for gas and electricity costs to swing 10 per cent in a single day.

“Power Efficiency found us the best gas deals on the market and was able to demonstrated that by entering into a flexible three-year, bulk-purchase agreement we could provide our commercial tenants with a stable and cost-effective energy supply.”

In 2008 King Sturge entered into a similar agreement with Power Efficiency for its electricity supplies which, it estimates, will save tenants about £5 million over three years. This contract is currently being extended.

“We are very hopeful we can achieve the same sorts of savings with our gas supply,” said Miss Tippetts. “Tenants are naturally more cost-conscious these days and are constantly looking for value for money. Any measures we can take to keep their costs down is good news all round.”

ENDS  4th November 2009

For further information please contact Louie Hadley, Sturgess Van Damme, on 01275 349011 or email louie@sturgessvandamme.co.uk