With the UK’s leisure market seeing a continued uptick in spending over the last 12 months, despite the financial pressures consumers face, Naismiths’ core services are in high demand in the leisure and hospitality construction sector.
From entertainment venues and tourist attractions to pubs, restaurants and fast-food locations, our talented specialists can support a wide range of business needs through our project monitoring, building consultancy and restructuring and advisory services.
Our experience in the broad sector of leisure and hospitality comes to the fore whether clients are building new developments, acquiring new businesses or seeking fresh opportunities for investment.
How Naismiths supports the leisure and hospitality sector
Our strategic and trustworthy advice is invaluable to clients as we navigate each project from the procurement stage through to planning and contract negotiations and organising the start of work.
We act as the experts on the ground and can skilfully oversee the building and refurbishment of new pubs, restaurants and leisure facilities, assess the conditions of existing buildings and devise detailed maintenance plans to futureproof each investment.
We work closely with major operators and their portfolios, as well as small chains or single entity businesses to assess properties in their estates, whether national or local. We assess everything from faulty drains and leaking roofs to arranging rolling refurbishment programmes to refresh the stock.
Our specialists understand the economic factors that affect this dynamic sector, reassuring clients that all work will be completed within budget to realistic timescales. That approach is also essential in the acquisition and disposal of assets and portfolios.
Project monitoring for the leisure and hospitality sector
Controlling the risks and costs involved in high-value schemes in the leisure and hospitality sector is a vital part of each stage of the project lifecycle. Providing costings is part of our surveyors’ due diligence process for new builds or refurbishments, ensuring that the right design decisions are made at the feasibility stage.
Careful planning and constant progress monitoring are the best ways of ensuring a successful conclusion. As a client’s eyes and ears, we can head off any potential issues but also react quickly when things don’t go to plan, liaising closely to allow stakeholders to make informed decisions.
We use our data-first approach to ensure each phase is completed to the highest industry standards. We set the the goals, review the budget, advise on procurement and contractors, and ensure statutory compliance.
Once the work starts, we provide a complete overview of each step, ensuring that construction work is on track and being completed to a high standard through regular site visits and updated reports to give a clear picture.
Our project monitoring service includes:
- Due diligence reporting
- Funding strategy
- Project coordination and monitoring
- Budget control and financial analysis
- Technical solution advice
- Account auditing
- Detailed reporting
Building consultancy services for the leisure and hospitality sector
Whether a client is looking to invest in a bar or restaurant chain developing its estate or is interested in other leisure opportunities, Naismiths’ specialists take the lead from start to finish.
Regardless of a scheme’s scope or size, our tailored plans ensure high-level conclusions through our project management and building surveying skills. Our in-depth knowledge of the market gives us an unrivalled understanding of what restaurants and bars need to operate, such as ventilation and cooling strategies, the restrictions of working on a live site and the importance of the aesthetics.
Our sector-specific chartered building surveyors and project managers will:
- Understand the fit-out process for bars, restaurants and leisure venues and the key roles of durable materials, acoustics and climate control
- Assemble a network of consultants to report on risks
- Appraise the risks involved in the venue’s current condition, advising on project specific issues as well as future maintenance costs
- Create tender packs for repair work and appoint contractors – all fully project-managed
- Deliver the project through to occupation and trading ensuring critical timelines are achieved
- Use the in-house mechanical and electrical engineering consultant team’s expertise for design and lifecycle advice and ensuring sustainability is core
- Set up a planned, preventative maintenance (PPM) plan over a five or 10-year period. A 10-year capital expenditure budget will detail the costs that should be budgeted for maintenance and repair for hospitality operators, including measures to improve environmental performance
Building surveying in the leisure and hospitality sector
Our tailored services include:
- Dilapidations advice – assessing and negotiating the cost of restoring a property to its original condition, on behalf of a landlord or tenant
- Defect diagnosis – we quickly identify and plan the necessary defect corrections
- Pre-acquisition surveys – assessing the technical risk for both property and business acquisitions
- Schedules of condition – creating a full record of a building’s condition, an invaluable back-up for potential issues
- Technical due diligence (TDD) – we analyse the condition of a building or portfolio for a buyer or investor at pre-acquisition and disposal (VDD – vendor due diligence) stages to alert a vendor or purchaser to possible risks
- Reinstatement cost assessments – evaluating the costs involved to ensure adequate cover is in place for insurance or management purposes of buildings and portfolios
Restructuring and advisory for the leisure and hospitality sector
We provide advisory and business restructuring services to operators in the leisure and hospitality industry. We can support with:
- Insolvency and turnaround
- Technical due diligence (new and existing, M&A, MBO, company health checks)
- Distressed developments, assets or portfolios (re-finance, build out, LPA receiver, enhanced monitoring)
