Client: InBev
Gerald Eve provide InBev with a full corporate property management service. Like many brewers, the company had rationalised its portfolio in recent years, especially its smaller ‘town’ breweries that lack the efficiencies of the larger purpose-built ones located close to motorway junctions.
InBev identified Boddingtons Brewery - a popular and iconic landmark with a rich history in Manchester - as surplus to requirements. Totalling 7.5 acres and with a complex legal title, InBev asked us to explore the viability of the sale of the site for redevelopment.
Our approach
Our property managers understood this would be a controversial sale, and called upon the experts in our planning & development team to handle it sensitively.
Their approach was to begin with establishing contact with key decision makers at Manchester City Council, to explain the exit strategy that InBev planned to adopt for the disposal. We next undertook a thorough due diligence exercise of all the planning and title issues, to reduce areas of risk and approached a small number of parties with an off-market opportunity to purchase the site on an unconditional basis to reflect the profile and sensitivity of the site. Following an in-depth assessment of the submissions, the site was sold to a consortium including Ask Developments is the required timeframe set by InBev.
Result
The disposal proceeds totalled over £9m for InBev.
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