Herefordshire Council Smallholdings Estate

Location

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