Actions Register
GCCP Asset Management
All items requiring attention across 14 UK assets, sorted by severity.
| Asset | Date | Type | Demise | Description | Severity | Days | Notes |
|---|---|---|---|---|---|---|---|
| CDF-ChurchSt | 1 Jul 2025 | Rent Review (Outstanding) | Unit E | Rent review | OVERDUE | -329 | — |
| CDF-ChurchSt | 16 May 2026 | Missing EPC | Unit E | OVERDUE | -10 | reason: lease has no EPC linked | |
| CDF-ChurchSt | 16 May 2026 | Missing EPC | Unit D | OVERDUE | -10 | reason: lease has no EPC linked | |
| CDF-ChurchSt | 16 May 2026 | Missing EPC | Unit B | OVERDUE | -10 | reason: lease has no EPC linked | |
| CDF-ChurchSt | 16 May 2026 | Missing EPC | Unit C | OVERDUE | -10 | reason: lease has no EPC linked | |
| EDI-FrederickSt | 16 May 2026 | Missing EPC | Office 2nd Floor (Macintyres) | OVERDUE | -10 | reason: lease has no EPC linked | |
| EDI-FrederickSt | 16 May 2026 | Missing EPC | Retail Ground (VisionExpress) | OVERDUE | -10 | reason: lease has no EPC linked | |
| KNT-Lympne | 20 Sep 2025 | Rent Review (Outstanding) | KNT-Lympne | Rent review | OVERDUE | -248 | — |
| ABD-Bankhead | 22 Apr 2026 | EPC Expired | ABD-Bankhead | OVERDUE | -34 | Two quotes sought for new EPC. KJ Tait quoted GBP 3,500+VAT on 25/05/2026. Awaiting second quote from BRSUK. | |
| LON-GoodmansFields | 24 Jun 2026 | Rent Review | NW Block Unit 1 | CRITICAL | 29 | — | |
| GLO-Endsleigh | 25 Dec 2025 | Rent Review (Outstanding) | GLO-Endsleigh | Rent review | OVERDUE | -152 | — |
| LON-GoodmansFields | 25 Nov 2025 | Rent Review (Outstanding) | NE Block Unit 11 | Rent review | OVERDUE | -182 | OVERDUE 6 months. No RR memo on file. Instruct managing agent to commence review proceedings. |
| LON-GoodmansFields | 27 Apr 2026 | Rent Review (Outstanding) | SE Block Unit 6 | Rent review | OVERDUE | -29 | Review date passed (28 days overdue). Asset Manager to confirm review mechanism from lease clause and instruct managing agent. |
| CDF-ChurchSt | 31 Mar 2026 | SC Budget Approval Due | — | OVERDUE | -56 | — | |
| ABD-Bankhead | 9 May 2026 | Rent Review (Pending Registration) | ABD-Bankhead | Fixed Increase Rent: 2.5% p.a. compounded from £1,741,665.00 → £1,970,535.26. OMR below fixed adjustment floor. | OVERDUE | -17 | Time not of the essence for this review (Sch Pt 3, Cl 11 displaces Scottish default). Rent review memorandum to be drafted under Scots law and, if required by lender/buyer, submitted by Scottish solicitors for registration in the Books of Council and Session for preservation and execution. |
| ABD-Bankhead | 1 Nov 2027 | Critical | ABD-Bankhead | 12-year construction warranties expire 2 May 2028 | HIGH | — | Practical completion 2 May 2016. Express 12-year liability periods on contractor warranty (Dandara Ltd), 3 sub-contractor warranties (Topek, J&D Pierce, Albann), and 4 consultant warranties (HFM Architect, Knight Frank EA, March M&E, Iceni Sustainability) all expire 2 May 2028. No PI insurance certificates have been provided for any party. Scots law prescription (5yr from discovery of loss) still applies within the 12yr contractual period. Action: (1) Instruct pre-warranty-expiry building survey to identify any latent defects before claims window closes. (2) Obtain current PI insurance certificates from all warranty providers. (3) Diarise 2 May 2028 longstop. Note: building contract itself has no express liability period (20yr Scots law longstop applies). |
| CDF-ChurchSt | 17 May 2026 | Critical | CDF-ChurchSt | missing epc - CDF-ChurchSt Unit C (2026-05-16) | HIGH | — | EPCs not linked for Units B, C, D, E. Instruct Colliers to provide valid EPC certificates for each demise. Unit A has valid EPC (B2, exp. 2035). Required for MEES compliance — E&W minimum E rating in force. |
| CDF-ChurchSt | 17 May 2026 | Critical | CDF-ChurchSt | sc budget approval due - CDF-ChurchSt (2026-03-31) | HIGH | — | Service charge budget for YE 31 Mar 2026 overdue for AM approval (55 days). Review Colliers submitted budget, confirm apportionment percentages against lease schedules, and issue formal approval or request revised submission. |
| EDI-FrederickSt | 17 May 2026 | Critical | EDI-FrederickSt | missing epc - EDI-FrederickSt Office 2nd Floor (Macintyres) (2026-05-16) | HIGH | — | Event horizon item from pulse §Event horizon. |
| LON-GoodmansFields | 25 Aug 2026 | High | LON-GoodmansFields | BBB UK Property Ltd guarantee expiry review | HIGH | — | F.O Operations Ltd guarantee on NE Block Units 1-3 (BBB UK Property Ltd) expires 25 Nov 2026. Capped at GBP 225,000 excl VAT. Confirm with managing agent (Knight Frank/Savills) whether renewal is being negotiated. |
| ABD-Bankhead | 25 May 2026 | High | ABD-Bankhead | Secure estate service charge information | HIGH | — | Obtain estate service charge budget, apportionment schedule, and reconciliation from managing agent to populate Service Charge section. |
| ABD-Bankhead | 25 May 2026 | High | ABD-Bankhead | Secure area referencing report from Comete SCSI | HIGH | — | Obtain area referencing/measurement report from Comete SCSI to confirm NIA/GIA figures for the demise. Current areas in Supabase are unverified. |
| ABD-Bankhead | 25 May 2026 | High | ABD-Bankhead | Construction PI insurance -- no certificates provided | HIGH | — | No PI insurance certificates provided for any construction party. Contractual requirements: Dandara (contractor) GBP 10m each claim; HFM Architect GBP 10k each claim; Knight Frank EA GBP 5m each claim + aggregate; March M&E GBP 5m each claim; Iceni Sustainability GBP 1m aggregate; Topek (cladding) GBP 10m aggregate; J&D Pierce (steel) GBP 5m aggregate; Albann (curtain wall) GBP 5m any one claim. All required to maintain PI for 12 years from practical completion (to May 2028). Vendor solicitor confirmed they would not obtain updated certificates. Action: request current PI confirmations from each warranty provider before expiry. |
| ABD-Bankhead | 25 May 2026 | High | ABD-Bankhead | Confirm ROE compliance resolved post-completion | HIGH | — | Vendor (City South Properties Ltd, OE023941) was non-compliant with Register of Overseas Entities annual filing at ROT date (Aug 2025). RoS will reject disposition from non-compliant registrant. Must be resolved before registration of disposition. |
| ABD-Bankhead | 25 May 2026 | Medium | ABD-Bankhead | Confirm standard security discharged post-completion | MEDIUM | — | Standard security in favour of PREMF Debt Management S.A.R.L. (Luxembourg, B184887) was to be discharged at completion. Confirm discharge registered at RoS. |
| ABD-GatewaySiteA | 25 May 2026 | High | ABD-GatewaySiteA | Secure estate service charge information | HIGH | — | Obtain estate service charge budget, apportionment schedule, and reconciliation from managing agent to populate Service Charge section. |
| ABD-GatewaySiteA | 25 May 2026 | High | ABD-GatewaySiteA | Write to tenant re TDD capex findings (GBP 516,100 over 5yr) | HIGH | — | FRI lease -- GBP 516,100 capex identified by Cushman & Wakefield TDD (Sep 2025) is tenant responsibility. Write to NEO NEXT+ ENERGY notifying of findings and requesting confirmation of remediation programme. |
| ABD-GatewaySiteA | 25 May 2026 | Medium | ABD-GatewaySiteA | Confirm standard security discharged post-completion | MEDIUM | — | Standard security in favour of Massachusetts Mutual Life Insurance Company (USA, registered 6 Jul 2018) plus assignation to Athene Annuity and Life Company. Confirm discharge registered at RoS. |
| ABD-GatewaySiteA | 25 May 2026 | Medium | ABD-GatewaySiteA | Confirm rent arrears (GBP 301K) settled pre-completion | MEDIUM | — | Approx GBP 301,000 rent arrears (back rent following 2024 review) outstanding at ROT date. Tenant expected to pay before completion. Confirm settled. |
| ABD-GatewaySiteD1 | 25 May 2026 | Critical | ABD-GatewaySiteD1 | EICR Unsatisfactory -- 5x C2 potentially dangerous items | HIGH | — | Fixed wire test (EICR) dated Jun 2024 returned Unsatisfactory with 5x C2 items rated as potentially dangerous. Tenant/sub-tenant liable to rectify as matter of urgency under FRI lease obligations. Require: (1) confirmation of remediation completion, (2) updated EICR with Satisfactory rating, (3) minor works certificate. |
| ABD-GatewaySiteD1 | 25 May 2026 | Critical | ABD-GatewaySiteD1 | Write to tenant re TDD findings (GBP 282,945 capex, EICR C2 items) | HIGH | — | FRI lease -- all GBP 282,945 capex identified by Cushman & Wakefield TDD (Jun 2025) is tenant/sub-tenant responsibility. Critical items requiring immediate tenant action: (1) EICR rated Unsatisfactory with 5x C2 (potentially dangerous) items -- tenant must rectify urgently and provide completion certificate. (2) Multiple fire stopping deficiencies (compartment lines, service risers, floor voids) -- compliance issue under Fire (Scotland) Act 2005. (3) Building Warrant gaps: mezzanine structure, stud partition, roller shutter door, test beds -- none have Building Warrants. (4) 7x emergency exit doors corroding (coastal salt exposure) -- tenant replacing, confirm schedule. Write to Tetra Technologies UK Ltd / Maritime Developments Ltd notifying of survey findings and requesting written remediation programme with timescales. |
| ABD-GatewaySiteD1 | 25 May 2026 | High | ABD-GatewaySiteD1 | Secure estate service charge information | HIGH | — | Obtain estate service charge budget, apportionment schedule, and reconciliation from managing agent to populate Service Charge section. |
| ABD-GatewaySiteD1 | 25 May 2026 | High | ABD-GatewaySiteD1 | JPMorgan charges -- solicitor review of priority vs lease | HIGH | — | 3 outstanding charges (2x legal charge + 1x debenture, all JPMorgan Chase Bank N.A., Jul-Sep 2021) on tenant. Group-level security from 2021 facility; primary debt refinanced Jan 2024 into Silver Point term loan but CH charges not discharged. Solicitors to confirm status, scope, and priority relative to lease. |
| ABD-GatewaySiteD1 | 25 May 2026 | High | ABD-GatewaySiteD1 | Building Warrant gaps -- 4 items without warrants | HIGH | — | (1) Two-storey steel mezzanine in north warehouse -- no Building Warrant. (2) Stud partition wall NW warehouse -- no warrant, incompletely constructed. (3) Roller shutter door south elevation -- planning consent (231596/DPP) but no warrant. (4) Test beds in yard and warehouse -- no planning or warrant. Query with vendor and solicitors as pre-exchange priority per ROT. Tenant/sub-tenant to procure retrospective warrants. |
| ABD-GatewaySiteD1 | 25 May 2026 | Medium | ABD-GatewaySiteD1 | Confirm SC arrears (GBP 64K) deducted from purchase price | MEDIUM | — | Rent and SC arrears totalling GBP 64,000+ at ROT date. Agreed to be deducted from purchase price. Confirm deduction applied on completion statement. |
| ABD-GatewaySiteD1 | 25 May 2026 | Medium | ABD-GatewaySiteD1 | Confirm standard security discharged post-completion | MEDIUM | — | Standard security in favour of Massachusetts Mutual Life Insurance Company. Vendor obliged to procure discharge on/prior to completion. Confirm registered at RoS. |
| CDF-ChurchSt | 25 May 2026 | High | CDF-ChurchSt | FF&E title transfer to tenant (cl.4.33) — confirm conditions | HIGH | — | FF&E title transfers to tenant under clause 4.33. Confirm no arrears and no material breach at transfer date before acknowledging transfer. |
| CDF-ChurchSt | 25 May 2026 | High | CDF-ChurchSt | Commission technical due diligence report | HIGH | — | No TDD or building survey on file for 5-10 Church Street. Commission pre-acquisition or condition survey to assess building fabric, plant, M&E, and capex requirements. |
| CDF-FairfaxHouse | 25 May 2026 | Critical | CDF-FairfaxHouse | Head of Steam FRA 7+ years overdue for review | HIGH | — | FRA dated 6 Nov 2018, review due Nov 2019. Now 7+ years overdue. Regulatory compliance failure under RR(FS)O 2005. 5 HIGH priority findings from 2018 assumed unresolved (no completion evidence). Commission new FRA immediately. Confirm status of 2018 remedial actions with tenant/managing agent. |
| CDF-FairfaxHouse | 25 May 2026 | High | CDF-FairfaxHouse | Confirm 2022 FRA action plan completion (common parts) | HIGH | — | FRA Oct 2022 identified 2 HIGH items (Article 22 responsible person coordination, bins blocking escape) and 4 MEDIUM items (EICR, combustible waste, grease on stairs, fire alarm integration). HIGH items had 1-month deadline (Nov 2022). Confirm completion with Colliers. |
| CDF-FairfaxHouse | 25 May 2026 | High | CDF-FairfaxHouse | MEES exposure -- Unit 5 (17 Church St) rated E, at risk 2027 | HIGH | — | Unit 5 rated E, currently compliant but at risk under proposed 2027 sub-D and 2030 sub-C tightening. Unit 1 at 4 St Mary St rated D also exposed from 2027. Max penalty GBP 150,000 per breach. Consider EPC improvement works. |
| CDF-FairfaxHouse | 25 May 2026 | Medium | CDF-FairfaxHouse | Obtain latest Flight Club turnover certificate and confirm rent payable | MEDIUM | — | Turnover rent provision: 10% on annual turnover above GBP 4M, in addition to base rent of GBP 325,000 pa. Current turnover rent approx GBP 168,300 pa. Tenant must provide certificate within 3 months of each accounting year end. Obtain latest certificate and confirm current total rent payable. |
| CDF-FairfaxHouse | 25 May 2026 | Medium | CDF-FairfaxHouse | Head of Steam fire separation defects -- fire-stopping required | MEDIUM | — | 2018 FRA identified holes in walls and ceilings around services requiring fire-stopping: plasterboard wall at basement stairs, holes around python piping, cables in post-mix area, music room, switch cupboard. Compliance issue under Fire (Scotland) Act 2005. Confirm remediated or instruct works. |
| CDF-FairfaxHouse | 25 May 2026 | Medium | CDF-FairfaxHouse | EICR -- no evidence of electrical inspection for common parts | MEDIUM | — | 2022 FRA notes no landlord electrical supply and no evidence of EICR. Recommend inspection and periodic re-testing per BS 7671. Confirm with Colliers. |
| CDF-FairfaxHouse | 25 May 2026 | Medium | CDF-FairfaxHouse | ROE registration -- confirm Alderan/Comete registered at HMLR | MEDIUM | — | Purchaser entities must register as overseas entities before HMLR registration. Confirm completed. |
| CDF-FairfaxHouse | 25 May 2026 | Medium | CDF-FairfaxHouse | Confirm DB UK Bank charge discharged post-completion | MEDIUM | — | Charge in favour of DB UK Bank Limited (registered 15 Dec 2021, entry B4) was to be released on or before completion. Confirm discharge registered at HMLR. |
| ABD-Bankhead | 25 May 2026 | Low | ABD-Bankhead | Planning report outstanding (ROT Appendix 6) | LOW | — | Planning Report (Appendix 6) was listed as to follow and not included in disclosed documents. Full planning DD incomplete. |
| ABD-Bankhead | 25 May 2026 | Low | ABD-Bankhead | EV charging points -- Licence for Works outstanding | LOW | — | KCA Deutag installed 2 EV chargers without prior landlord consent. Licence for Works proposed post-completion at tenant cost. Vendor to procure tenant acknowledgement. |
| ABD-GatewaySiteA | 25 May 2026 | Low | ABD-GatewaySiteA | Planning report outstanding (ROT Appendix 6) | LOW | — | Planning Report listed as to follow and not included. S75 agreement referenced but not reviewed. Full planning DD incomplete. |
| ABD-GatewaySiteA | 25 May 2026 | Low | ABD-GatewaySiteA | Vodafone wayleave -- obtain fully executed copy | LOW | — | Wayleave agreement exists but fully executed copy not provided by vendor. Request from Vodafone or vendor solicitors. |
| ABD-GatewaySiteA | 25 May 2026 | Low | ABD-GatewaySiteA | Electricity substation -- confirm ownership and maintenance | LOW | — | Defunct substation within title boundary, no statutory undertaker markings. If exclusive to property, maintenance is landlord/tenant. If shared, Common Area under DoC. Clarify. |
| ABD-GatewaySiteA | 25 May 2026 | Low | ABD-GatewaySiteA | Missing building control documentation | LOW | — | Building warrants, H&S files and statutory docs not provided by vendor. Tenant responsible under lease. Confirm tenant holds and can produce on request. |
| CDF-FairfaxHouse | 25 May 2026 | Low | CDF-FairfaxHouse | Indemnity insurance -- pre-Dec 2020 works without Building Regs | LOW | — | Liberty Legal Indemnities policy covers pre-Dec 2020 works. Limit GBP 1M rising to GBP 2M. In perpetuity. No action unless further works discovered. |