- LocatED is an arms-length body to the Department for Education. It is responsible for buying and developing sites in England to support the provision of education and help deliver new schools.
- We were instructed to provide valuation advise to LocatED on the proposed purchase of a site situated half a mile south of the Canary Wharf Business District in order to to demonstrate that they were not over paying for a site which was to be transferred from a developer as part of a S106 Agreement.
- We prepared a Red Book Valuation on a residual basis considering education and as well as the most likely high value alternative use of residential.
- This was a complex site with a residual value over £10m.
- Our valuation allowed LocatED and the Department of Education to reach agreement with the London Borough of Tower Hamlets.
- We were subsequently instructed to value the temporary College which occupies purpose built offices in the nearby Selsdon Way.
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