Service: Agency, Asset Valuation & Advisory | Sector: Healthcare
The Disabilities Trust is a national charity providing specialist community-based and residential support for adults with acquired brain injury and other complex disabilities. As the Charity has sought to rationalise and enhance its estate to better meet the needs of its beneficiaries, Gerald Eve have been instructed to provide valuation and strategic support and to advise on the disposal of surplus assets including Chalkdown House, Swindon – a 20 bed specialist care facility and 1½ acres development site; The Woodmill, Cullompton – a 19 bed specialist care home; and Hamilton Lodge, nr. Colchester – a 40 bed care facility in 16 acres. The sale processes needed to be undertaken in full compliance with the requirements of The Charities Act 2011.
Gerald Eve advised on the market potential, value and marketing strategy prior to preparing marketing information. Our advice was that both Chalkdown House and The Woodmill were good quality care facilities and that best terms would be achieved through stimulating competing interest amongst specialist care providers. Hamilton Lodge had the potential to attract existing use interest but our marketing was equally targeted on the development market despite the restrictive planning policies applying to this rural property.
In all cases, our marketing generated competing offers, which helped to achieve unconditional offers at attractive levels which we could recommend to the Trustees as being the best reasonably achievable in the open market. Our knowledge of the healthcare market identified a buyer for Chalkdown House and The Woodmill for continued care use and Hamilton Lodge was sold unconditionally but for redevelopment.
Gerald Eve has become a trusted adviser to the Charity in helping us with a broad range of strategic estates advice. We have been impressed by their knowledge of the healthcare sector and wider property markets. They have handled several property sales for us which have achieved good outcomes and they have thorough knowledge of the requirements of The Charities Act.
BILL CHIDGEY, DIRECTOR OF CORPORATE SERVICES, THE DISABILITIES TRUST