Service: Agency, Asset Valuation & Advisory | Sector: Healthcare
The National Society for Epilepsy had previously sold c 14 acres of Green Belt land in Chalfont St Peter, Buckinghamshire to Audley Villages who secured planning permission for 84 extra care units comprising a mixture of apartments and cottages with communal facilities including a restaurant, library, swimming pool, spa and gym. Following the success of sales at the scheme, Audley approached our client seeking to acquire more land to develop a second phase.
Gerald Eve were instructed to provide a Qualified Surveyor’s Report in compliance with the Charities Act 2011 to confirm that the terms of the transaction provisionally agreed between the parties were the best reasonably obtainable. Based on our expertise in advising on a broad range of offerings in the senior living space and detailed evaluation of the opportunity, we advised The National Society for Epilepsy that we considered better terms should be negotiated with Audley Villages.
Gerald Eve’s advice secured improved terms for our client, reflecting Audley’s special purchaser status and the strong market demand for their retirement product, thereby maximising receipts for the Charity and ensuring Charities Act compliance. Audley Villages subsequently secured planning permission for an additional 58 units at Chalfont Dene and the units are now being sold.