Client: HBOS

A large office and retail property with a very short lease, on Haymarket in central London, affords a variety of interesting options for developers and investors. Refurbishment, redevelopment or change of use was just some of the alternative scenarios for the site.

HBOS was given the opportunity to finance the purchase – and subsequent development – of the property. It called upon our valuation team, who has regularly advised Halifax and Bank of Scotland many years prior to the two companies’ merger, to value the site. This required a combination of expertise from development and planning experts, in addition to the valuation team. The final valuation was calculated to be in excess of £28m.