We work closely with clients to establish their objectives in order to establish a property strategy.
Property typically represents nearly 30% of companies’ liabilities, but is rarely appropriately actively managed.

As a first step, we typically undertake an audit of existing property holdings in order to identify liabilities, opportunities and risks.

As an aid to more effective management we can prepare comprehensive property "bibles" of property holdings including building descriptions, lease summaries, key date diaries, cash flows and budget forecasts as well as appropriate accounting provisions for future liabilities where appropriate. These are typically held on line on a password protected, dedicated web site, with hardcopy documentation such as leases and other legal documentation held electronically also.

A review of contractual documentation should identify extraneous lease liabilities. We have advised clients in respect of many incautiously worded leases and where these are identified in advance of the problems materialising this often enables a more structured approach to re-negotiation to alter agreements and contractual documentation.

We can provide examples and case studies on request.

We review property holdings identifying opportunities to reduce costs and minimise future exposure to liabilities.

We will also identify opportunities to realise value through restructuring contractual arrangements and or sale and leaseback.
Where a move is envisaged, we are specialists in this field and are well placed to advise on all aspects, including advice on availability, transactional advice, strategy advice, and project management from concept to implementation.
We can provide references from a number of clients in this field.

• Pre-Acquisition Due Diligence
• Acquisitions
• Managed Disposal Strategies
• Financial Modeling
• Establishing Accounting Provisions
• Debt Funding
• Sale & Leaseback
• Rent Reviews
• Managed Business Rates Minimisation Strategies
• Valuation
• Dilapidations
• Project Management
• Insurance
• Fit Studies/Occupancy Efficiency Analysis
  

The combined experience of the team spans over 55 years, each team member holding senior positions in national firms, including Knight Frank, FPD Savills, ING and Schroders Investment Management. Each Director is a Fellow or Member of the Royal Institution of Chartered Surveyors, including Directors with FSA Accreditation where required.

This expertise has included a range of projects including due diligence prior to corporate acquisitions, establishing and implementing property consolidation and expansion strategies and a range of associated projects.

Previous projects (amongst others) include:

• GE (USA) - asset management, consolidation reviews, lease renewals, rent reviews for the entire industrial portfolio of GE (USA) group companies throughout the UK.
  GE Lighting – acquisition, sale and leaseback of a 200,000 sq ft European Headquarters, office and high bay distribution warehouse in Northampton, realising a substantial profit.
  Bechtel Ltd – implementing consolidation and acquisition strategies, including the lease re-gearing of their 170,000 sq ft London office headquarters and project management of £13 million refurbishment.
  
• Cendant Corporation – providing due diligence, consolidation reviews, analysis of financial provisions, financial econometric modeling for varying strategies prior to the acquisition and or sale of the following businesses: NCP, RCI, E-Bookers, Galileo, Gulliver’s Travels, Travel Bag, Travel 2, Travel 4, CUC, Holiday Cottages Group. We also handled subsequent lease surrenders and re-structuring, coupled with a managed disposal strategy for excess properties.
  
• The Arts Council of Great Britain - reviewing in partnership with others, facilities utilised by The English National Opera and The Royal Opera House under a review commissioned by The UK Government undertaken by Sir Richard Eyre, to establish potential for consolidation and shared use.
  
• The English National Opera – a strategic review of potential sites throughout central London for an alternative performing arts venue and new Opera House on behalf of The Arts Council. We also handle all rent reviews, lease renewals, strategic reviews and valuations on behalf of The ENO.
  
• Various-exit strategies – financial analysis, handling lease re-gearing and surrender negotiations prior to an orderly dissolution, including amongst others: Comdisco, Vitago, International Water, Alterra Partners, Lets Buy it.com, BCN Data Systems.

Other organisations advised include: GE (USA), BMW Group, Rover Group, Atos Origin (Sema Group), British Safety Council, Schroders, ING, Arco, Matsushita, Sim Corp, Chiltern Group, Shakespeare Globe Theatre, Multistar Containers, PHH Leasing, NCP Group, Galileo, E-Bookers, B&Q, Chartwell Land, Alfred McAlpine, Kuwait Petroleum, Transalstrom, Altio, Bechtel, International Water, CIMS, RCI, Gullivers Travel, Woodcock Holidings, Boston Technology, Tanning Technology, Comdisco, U Soft UK, Gnash Ltd, Entertainment Publications, CLS Holdings, CUC Europe, IPC Ltd, IDC (UK), Origin Branding, Nexant, Digene, Credit Card Sentinel, and Zisman Bowyer Partners.