Pictured: Philip Taylor

Thefts of metal from commercial properties in the West Midlands have increased dramatically in 2011 - and landlords are set to count the cost. 

It is believed that just over half of the region's vacant properties may have been targeted by criminals in the past year, according to independent research by The Vacant Property Specialists (VPS).

The thieves' main targets are warehouses that have become empty, thanks to the recession. The metals they mainly seek are copper and lead, both of which have increased hugely in terms of their scrap value in recent years, not least due to rising demand from the Far East.

Copper cabling and pipework, and lead from rooftops are among the most highly targeted fixtures. There is also the danger of other thieves attacking the same site, as they will perceive it as an easy target.

According to Cushman & Wakefield, such thefts can be hugely costly, in terms of repair bills and higher insurance premiums. It is believed that the overall cost of the thefts is now running at £770m in the UK.

The firm is now is tackling the problem through its partnership with leading specialist property insurance broker Oval Insurance Broking.

Oval and Cushman & Wakefield believe that one way of reducing the risk posed by thieves attacking empty properties is better risk management, including better security and more frequent inspections of empty properties.

Such basic measures can be supplemented by more sophisticated anti-theft measures, such as watermarking a building's lead.

Cushman & Wakefield already has a dedicated vacant property inspection team, and risk management specialists who are trained to help deter would-be thieves.

Philip Taylor, asset management partner at Cushman & Wakefield, said: "This is an underestimated and overlooked part of property management.

"Thanks to the provision of specialist training by Oval, we have gained a much wider knowledge of the issues involved, and are able to give our clients an improved service."

Oval head of property investors Greg Spiteri said that whilst claims linked to metal thefts were rising, he was confident that the issue could be managed, by the adoption of smarter property management.

"Our Birmingham office in Barwick Street has handled some significant claims this year, but the costs associated with this issue can be kept to a sustainable and appropriate level," he said.

"Our advice is basic business strategy - tell people what they need to be looking out for and what they need to do to minimise the risk, which includes carrying out fortnightly inspections, sealing letter boxes and turning services off."

Oval has a long-standing relationship with Cushman & Wakefield and as one of the UK's leading insurance brokers writes £380m of premiums, of which £65.4m is property.