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Herefordshire

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
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