The database
We have again been able to achieve a major uplift in the database of over 65% in the number of Parks contributing. Budget information has been provided for over 87% of Parks and tenant user information for all Parks.
The data on which Retail Park OSCAR is compiled is from the service charge costs paid by Occupiers to Owners of Retail Parks. The data draws upon the cost of shared services and the maintenance of common areas. The costs do not include direct costs borne by Occupiers in relation to the maintenance, repair and use of their own demised unit.
The data for the 'reconciled Service Charge' analysis is in the main drawn from audited or certified Service Charge accounts mainly falling within the 2006 calendar year. The data for 'Budget' analysis comes from budgets issued to tenants for the period mainly falling within the 2007 calendar year. All costs are net of VAT.
The definition of terms describing the principal cost centres used in OSCAR 2007 (which follow those adopted by the RICS Service Charge code of practice) referred to in this analysis may be found at the beginning of this publication.
The cost-rates have been calculated by dividing the total Service Charge costs by the gross internal floor area of the retail units within the Park.
Data is presented in both imperial and metric units, and this year's analysis is based on the following;
- 237 Retail Parks for 'reconciled service charges' and 231 Parks for 'Budgets'
- Total floor area of over 34.75 million sq ft (3.23 million sq m)
- 2,574 Units
- Total spend of over £32 million in 2006
- Total budgeted spend of over £35 million in 2007
- Data from 12 contributors
- 85% of the Parks included within the database are managed by our contributors and their managing agents
- Unit user information for 263 Parks.