With unrivalled experience across a wide range of property sectors and geographies, there are countless examples where we have helped clients achieve ambitions.
We were instructed by Aviva Commercial Finance (along with two other service providers) to provide valuation advice in relation to the £2.8 billion Project Churchill portfolio.
As part of the portfolio sale, the instruction required over 1,000 properties across the UK to be valued within very strict timescales. We were able to utilise over 100 valuers nationally to provide the valuation within the deadline imposed, enabling the wider portfolio sale decision process to stay on track.
Project Churchill was successfully sold to Lone Star and may well be the last large loan portfolio transaction in the UK in this cycle.
The Retail and Leisure Valuation team provided a loan security valuation for the Battersea Power Station development, funded by a Malaysian led bank syndicate. The landmark development includes a diverse mix of residential flats, shops, restaurants, cafes, offices, event space and a hotel. The end value of the project was in the region of £5 billion.
We conducted a portfolio review and ‘desktop’ valuation exercise for Aviva Commercial Finance for secured lending purposes. The portfolio comprises 78 properties in North West and South East England and is a mix of commercial property types but with a bias toward multi-let, out of town offices.
The portfolio also includes industrial, trade counter, retail park and superstore properties. Significant assets in the portfolio include Middlebrook Retail Park, Bolton; Stanley Green Trading Estate, Cheadle and 55 King Street in Manchester city centre. The total value reported was £505m.
We were instructed by an Irish bank to provide a market valuation and strategic business plan assessment on a portfolio of seven assets in Germany and Poland. The properties comprised a mix of shopping centres, office buildings and industrial assets. The bank required the valuation in order to assess the suitability of the assets as a security for a loan.
We produced a bespoke report on each asset providing detailed commentary on the individual property sectors and micromarkets in each of the locations. We also provided advice on the future value of the assets, taking into consideration the sponsor's business plan. This helped the bank to assess the sensitivity of the pricing of the assets over the short to medium term.
This instruction demonstrates our ability to provide valuation advice across multiple sectors and countries, as well as strategic advice on the likely future value development.
We were instructed by a German bank to provide a Market Value and Mortgage Lending Valuation on a significant central London office building, which has ancillary retail and leisure uses. The building is over 200,000 sq ft and has a market value of £250 million.
We undertook the two services simultaneously, limiting the amount of time between drawdown and placement in the cover pool. This significantly reduced the cost to the client and provided them with a holistic service.
We have successfully been appointed by British Land to value former Tesco BL Holdings Limited (“TBLH”) Fund. The fund comprises six Tesco anchored dominant retail assets in locations nationwide including Milton Keynes, Peterborough, Leicester, Bury, Bromley-by-Bow (London) and Newport.