How do you maximise value from the sale of a real estate investment? JLL’s approach is to position a property in a way that shows buyers its long-term potential, and to offer unrivalled access to international capital. When we sold 99 Kensington High Street on behalf of its Singaporean & Malaysian owners in 2013, we used our extensive global network to target the hottest buyers, meeting with them in person to present the asset in the most effective way. By creating competitive tension that resulted in two rounds of bidding, we achieved a price more that 10% ahead of our client expectations.
Famous for its roof gardens with resident flamingos, 99 Kensington High Street has been a department store and a rock music venue, while today it offers its owners diverse income streams from prime retail, offices and leisure. JLL sold the asset at a premium price in 2013, exceeding our client’s expectations in terms of speed to market, execution and pricing.
We achieved this result by finding and accessing the most relevant potential purchasers and positioning the asset to them carefully. Using our International Capital Group, we shortlisted potential buyers from around the world, talking them through the asset face-to-face before taking the property to the wider market. With our teams in London and Singapore working as one, we ensured optimal client service. The global marketing campaign led to bids representing more than £2 billion of equity. By creating competitive tension we drove pricing more than 10% ahead of valuation, exceeding our client’s expectations.