Client: Liverpool Hope University College
Many universities have large property portfolios, which can be a tremendous asset. However, large portfolios can mean high operating costs and as a result, property assets need to be carefully managed in order to achieve the best results.
Liverpool Hope University College has an extensive campus part of which contains a large hall of residence providing 188 bedrooms for students.
The University were keen to retain the halls of residence as part of their campus but to pass ownership of the building to another party. The sale would release funds which could then be re-invested into providing a first rate education service.
They approached us to see if we could help them achieve their aim.
We devised a targeted marketing campaign ensuring that the property was fully exposed to the market. Using existing and new contacts within the Liverpool market, as well as approaching the national market, we attracted a number of bidders.
The result? We successfully negotiated the sale on behalf of the University and secured a sale price in excess of £5 m. In addition, the new owners pay the University an annual contribution towards site security and maintenance.
Alan Catterson, director of estates for Liverpool Hope University College, commented: “This is a totally win-win situation. We still have the benefit of being able to provide excellent student accommodation facilities on the campus, but by selling the building we can reinvest the proceeds to improve our range of education facilities, not just for existing students but for the benefit of many other local people.”
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