As a range of players seek new opportunities, non-traditional real estate assets are coming to the fore.
Funders, developers, operators and investors looking for a market niche are increasingly eyeing properties such as care homes, bingo halls, student accommodation, motorway services and retirement housing. Often arising in response to changing tastes, demographics and socioeconomic factors, these assets present interesting opportunities that require specialist expertise and understanding to exploit.
Gerald Eve’s alternative markets team holds sector-leading understanding of the supply, demand, regulatory and operational drivers that underpin these specialist assets and their trading potential, enabling the provision of robust advice to operators, investors, developers and funders.
Operating from London with support across the regions, Gerald Eve’s alternative markets team comprises 36 partners and associates. Instructions include: advising Gala Coral Group on its portfolio of 60 bingo halls and casinos as part of a restructuring; valuation of 20 Roadchef motorway service areas; and working with Blackrock on the acquisition of The Montefiore Hospital, Hove leased to Spire Healthcare.
Having recently constructed the new Exhibition Road Quarter – a new café, courtyard and exhibition gallery – the Victoria & Albert Museum instructed us to provide an asset valuation for financial reporting purposes to reflect the expanded estate.
Eurocentres appointed us to value and advise on the sale and potential for change-of-use for a language school in Eccleston Square. The stucco-fronted period building had a total floor area of 25,414 sq ft.
English UK – the national association of accredited English language centres in the UK and a registered charity – considered their offices not fit for purpose and wanted to understand what options were available to them. We were appointed to undertake a valuation and appraise their options.
Following the construction of a new campus, United Colleges Group appointed us to sell the freehold of a former college in Saltram Crescent, north west London.