en/property-portfolio/business-units/non-residential

 

Due to the mixed nature of town centres, Aedifica's portfolio also includes non-residential spaces (offices, businesses and hotels). These spaces make it possible to extend the duration of leases, improve the diversification of the portfolio and increase the average return, and to guarantee greater economic stability.

Aedifica has already invested in a hotel located in the centre of Bruges . This hotel is subject to a 27 year long-term lease (+ 2 x 9 years).

At the moment, Aedifica outsources the management of its portfolio of unfurnished apartment buildings. It uses external intermediaries with a good reputation on the rental management market in Belgium for two reasons:

• Firstly, costs can be reduced for Aedifica by avoiding personnel costs, which are traditionally high in this type of business,
• and secondly, Aedifica is not yet sufficiently large to ensure good quality management of its unfurnished portfolio internally.

 

However, Aedifica has hired an operations manager  to co-ordinate the services of these sub-contractors and ensure the quality thereof.
A sales and marketing manager has also been recruited to ensure the rental of the portfolio internally and maintain direct contacts with tenants.

With the desire of limiting its risk in terms of management, Aedifica has also decided to split its portfolio among the managers, notably according to their specific specialisations.