Project summary
- To advise Herefordshire Council on the feasibility, strategy and likely returns from a disposal of its farms and smallholdings estate
- Key aims were to maximise capital receipts, achieve goals of all stakeholders, focus on tenant welfare, identify long term opportunities and meet project deadlines
- The project phases included tender submission, strategy presentation, asset valuation, planning and developments briefs, portfolio sale preparation, marketing plan implementation and sale conclusion
Solution
- Detailed tender submission and presentations to encompass valuations, rural consultancy, strategic planning, farms and estates agency services
- Methodical valuation of all properties as part of strategic review and business case development
- Coordination of planning applications to add value to rural development sites
- Management of tenancy surrenders, valuations and surrender negotiations
- All-encompassing preparations for portfolio sale, comprising 59 Lots across 13 sub-estates extending to about 4,200. acres. Creation of a complex dedicated website to manage the sale process including secure, online data room housing over 20,000 documents
- Informal tender sale process with combined guide price of circa £38m and resulting in total offers exceeding £200m
Benefits
- High profile, cost effective marketing campaign
- The comprehensive disposal of all portfolio lots
- Capital receipts well in excess of total guide price
- Positive outcomes to tenant welfare matters
- Client timescales achieved
- Long term planning gain accomplished
