THE PROJECT:
Portfolio disposal following a Leasehold Liability Transfer
Transferring the risk and burden of a surplus leasehold portfolio, with a gross liability of c£64m, for a major UK public limited company.
WHAT WE DID
We took a transfer of the liability for 26 sites across the UK for a premium of £31m. The premium was part paid in cash, with the remainder in freehold property at an agreed value of £4m.
As the client’s lease disposal specialist we:
- appraised opportunities for lease exit and pursued a strategy for each site
- marketed all properties and achieved sub-lettings
- approached landlords and sub-tenants on behalf of our client
- sold all freeholds, realising cash to meet portfolio liabilities
- provided regular management and financial reporting
- achieved a £1m service charge saving for one property
- surrendered all leases in order to achieve a clean release alongside provision saving
SERVICES PROVIDED
- Liability pricing
- Disposal option analysis and marketing
- Negotiation and asset sale
- Effective reporting
- Risk transfer execution
- Property management
Find out about our property disposal expertise
Contact the team behind this project >>
Tim Lowe
BSc (Hons) MRICS
Director of Operations
