Management
The dedicated on-site management team comprises an operations manager and an administrations manager. Where applicable the employment of the on site staff will transfer as part of the sale in accordance with TUPE regulations.
Service Charge
The operation of The Core is covered by a comprehensive service charge. The total service charge is split into two schedules on the basis of specific recovery:
Schedule 1: All Tenants
Schedule 2: Internal Tenants
The costs are apportioned on a floor area basis. The service charge budget for the year ending 31st March 2012 is £1,109,473.
The marketing budget for 2011/12 is £40,000 per annum.
The current year’s service charge budget, together with the last two years service charge expenditure is set out below:
| Year | Schedule 1 | Schedule 2 | Total |
|---|---|---|---|
| 2010 (expenditure) | £374,029.46 | £331,102.59 | £705,132.05 |
| 2011 (expenditure) | £460,331.15 | £409,975.30 | £870,306.45 |
| 2012 (budget) | £686,694.00 | £422,779.14 | £1,109,473.10 |