Probono professional services - maximise financial benefits from charity's assets

Contacts

Contacts
For further information please contact:

Jonathan Rhodes
020 7851 4818
07827 944646
jonathan.rhodes@glhearn.com

Client: Providence Row
Location: London
Discipline(s): Valuation

Providence Row needed professional pro bono property expertise to help the charity to achieve the strategic aim to use the charity’s property assets to become financially sustainable in the long term.

The strategic objectives included:

  • Determing the best use and development potential of a building on Spelman Street (separate from the charity’s main site) and the cost implications of retaining this asset
  • Providing advice on the potential acquisition of workshop and office premises on Gunthorpe Street (adjacent to the charity’s main site) and the capital expenditure required on repair and maintenance
  • The potential level of rental income and capital value for both properties

A strategic property review was required in order to maximise the financial benefits from the charity’s assets and how these may be used to assist in funding its objectives.

GL Hearn pulled together a senior multidisciplinary project team to assess the options, specifically with regard to the income and future development potential. The recommendation was made to sell Spelman Street and negotiate the acquisition of the Gunthorpe Street premises for similar prices even though it was identified that the latter had significantly greater development potential. We also assisted with the appointment of managing and letting agents to enable the charity to maximise the net income stream and also to concentrate on its core activities.

  • Share
GL Hearn have given tremendous support, time and effort to help the charity to secure its long term future.
Simon Bartley
Chairman, Board of Trustees

Providence Row

Contacts
For further information please contact:

Jonathan Rhodes
020 7851 4818
07827 944646
jonathan.rhodes@glhearn.com