East Sussex College Group

The Challenge

As part of the proposed merger between East Sussex Coast and Sussex Downs College, we were appointed to undertake valuations – including consideration of both existing and alternative uses – of five further education colleges. The valuations were to be relied upon by the college, Barclays Bank (which had security over the assets) and the Transactions Unit, which was providing restructuring facilities.

The Solution

We undertook valuations of all college properties including valuing potentially surplus land. A material consideration was the alternative use value of the properties which informed Barclays’ and the Transactions Unit’s security.

The Result

We successfully reported to all three parties providing the college group the information required to facilitate the proposed merger. The total value of the assets was over £40 million. The colleges have since merged and are now consulting on their plans for the future.