Client: St Mary’s University College
Most universities comprehensively value their property assets every five years, for inclusion within their financial statements and also to inform decisions on estates strategy. St Mary’s University College has a diverse property estate located in an affluent area of south west London which includes a mixture of halls of residence, teaching facilities, recreation and sports facilities.
The University recently appointed our education team to value its portfolio.
The solution
Drawing on our recent experience of valuing major university estates, including the University of Surrey at Guildford and King’s College London, we were able to accurately assess the existing use value of the various specialised buildings comprising the main campus, adopting a mainly cost based valuation approach. The University’s residential portfolio required a different approach, and we used our knowledge of the maturing investment market for student housing to inform our valuation advice.
In reporting our valuations, we were able to identify a number of potential opportunities for the University to release capital from its property assets and we provided detailed option appraisals to inform decisions on the possible refurbishment, redevelopment or sale of some of the University’s older style student housing.
Results
Our valuation showed the portfolio to be worth approaching £90m which the University has used for inclusion in its accounts, and to inform its estates strategy.
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