The Wichford portfolio comprised 38 office properties, the majority of which were secondary assets let to government tenants located across the UK.
Exceptional research and preparation
We employed our national network of surveyors to conduct detailed due diligence across the portfolio, using our specialist knowledge of the local property markets to provide timely valuations for all of the individual assets to identify the immediate short term upside. Meanwhile we also prepared pre-sale building surveys to support buyer decision making.
Exceeding asking price by 16%
We then developed a sale strategy that involved disposing of four of the assets individually and combining the remainder into a single portfolio, leveraging our network of contacts to target an international audience.
Our approach helped to secure a better than expected return for the client. We sold the four individual assets for over £25m in total and the rest of the portfolio received was sold for 16% more than the £102m asking price.
Attracting new UK bidders
Many of the bidders were new entrants to the UK market, reflecting both the extensive reach of our marketing campaign and the trust that was placed in the due diligence that we conducted.