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Strategic estate planning v2 6

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Ambercycle Consulting
Ambercycle Consulting

The document provides summaries of various strategic estate planning and development projects that Lester Wagman has advised on, including: 1) Advising a council on developing an integrated healthcare centre as part of a town centre regeneration scheme. 2) Advising the landlord of an integrated healthcare centre on lease negotiations, life-cycle repairs, and options for asset disposal. 3) Advising a council on the disposal of small parcels of housing amenity land. 4) Advising various clients on the development of five new primary healthcare hubs involving negotiations, structuring agreements, and valuations.

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Strategic Estate Planning Development & Healthcare Case Studies Lester Wagman
2 NHS Cavell Centre We are currently advising Spelthorne Borough Council on the development of one of the new integrated multi-disciplinary Cavell centres as mart of an exciting mixed-use town centre regeneration scheme Appraisal of development potential Negotiation of capital values best value advice Structuring of lease and development agreements Asset management of completed scheme Staines, Middlesex
3 Integrated Health Care Centre We are currently advising the private landlord of a large modern integrated healthcare centre in North East London, originally constructed under NHS LIFT and leased to the NHS on a Lease+ Liaison with NHS occupiers and head tenant NHS Property Services Co-ordination of life-cycle repairs to the building Financially modelling different options for asset disposal Negotiations with NHS around lease restructure to support longer term operational viability Ilford, Essex
4 Pre-disposal Housing Amenity Land Working with Rona London we are currently advising Enfield Council on the disposal of a number of small land parcels from their Housing Revenue Account Liaison with tenants, homeowners and Council team Advice on values and conditions for disposal Consideration of wider asset management opportunities Advice on tenure and protective covenants Enfield
5 Primary Healthcare Developments In 2020 we are advising public and private sector landowner and developer clients on the creation of 5 separate new NHS primary care hubs. The context and brief is different in each case but all projects involve Appraisal of development potential Negotiation of rental values and support through business case process Structuring of lease and development agreements Valuation and/or forward sale of completed asset Croydon, West Sussex, Milton Keynes, Oxfordshire
6 Primary Healthcare Business Case We authored the CCGs combined outline and full business case (FBC) for the development and fit of a new 1,181 sq.m integrated health and wellness centre, forming part of Poplar HARCAs regeneration of the Aberfeldy estate. The new centre is a cornerstone of the WellOne intiative, part of the NHS Five Year Forward View, to meet needs of a local population with high levels of deprivation which is forecast to double by 2040. The premises will be leased to the NHS healthcare practice and the 贈3.5m fit out will be largely funded by developers s.106 contributions from other schemes in the locality. Aberfeldy New Village, Poplar, East London
7 Land option & development agreement In 2020 we advised three individual co-owners of approx. 1.5 acres of land adjoining a major development site for 500 homes adjacent to a junction on a major arterial route. However as well as having no rights of access the land in question had been designated as greenbelt in the local authoritys recent plan review. With two of the owners being past retirement age they wished to realise the optimum value for their asset. Having approached a number of promoter-developers none of whom were keen to commit much early capital we persuaded the owners of the adjoining development to pay a significant fee/premium for a leasehold development agreement with future value-sharing agreed and final freehold acquisition option. Working closely with the lawyers the resulting arrangement proved tax efficient for both the vendors IHT planning and the developer's future CGT liability. Hillingdon, West London
8 Development Consultancy Context Barnet Enfield & Haringey Mental Health NHS Foundation Trust had declared the property surplus to operational requirements. Haringey Council wished to acquire the site for a local public service project. Challenge To support local services the Trust wished to transfer the property to the Council for market value in a solus transaction without a full market externalisation process. The agreed transfer cost needed to be supported by 2 concurring professional valuations. The Council benefited from an historic title covenant restricting the use of the property. Approach Having undertaken our own valuation we negotiated with DVS for them to take adequate account of the effect of the covenant. Results Successfully negotiated a substantial capital receipt for the Trust within tight timescale Canning Crescent Centre Wood Green
9 Estate Development Strategy Context This busy acute and community Trust in a densely populated area sought to reconfigure and modernise its estate to support the vital role it had carved out for itself in the local health economy. Challenge Although residential property values in Croydon are not as strong as other parts of the capital this site fronts a main arterial close to a large commercial centre and main transport connections. Approach We worked with master planners to quantify and optimise development opportunity from parcelling land for disposal. This work has supported the development of the Trusts main site Development Control Plan which involves the construction of a multi-storey car park and relocation of its existing maternity wing as enabling development. Results Successfully re-planned site to inform estate strategy options. Croydon Health Services NHS Foundation Trust
10 Site Strategy Context Following the transfer of some teaching activities to its new Colindale campus the College was looking to rationalise its activities at Southgate with a view to releasing land to generate capital. Challenge Site constraints included main access to the site shared with local public library site (also surplus for development), a very narrow secondary access to the site, part shared access with local Royal Mail depot and sorting office and underground railway (Piccadilly Line) passing under part of the site at shallow depth. Approach We worked with the Colleges master planners to devise and appraise alternative use development options for three different parcels of land including one for high density student housing Results Successfully re-planned site to inform estate strategy options. Barnet & Southgate College Southgate Campus
11 Development Consultancy Context The College had previously agreed to sell surplus land from its new campus in Colindale, London NW9, to a major house builder. Its original agreement with the developer included a substantial overage provision but despite there having been significant house price growth, the property market had since stalled/cooled. Challenge The developer was looking to crystallise and make an early settlement of its overage liability to offset this for tax against large surpluses it had made in that financial year. Approach We undertook a detailed analysis of the developer's construction programme, plotting this against projected indices for house price growth with varying confidence intervals. Results Successfully negotiated a substantial capital payment for the college. Barnet & Southgate College Colindale Campus
12 Building Utilisation Review Context To inform bids under the NHS Estates & Infrastructure Transformation Fund, CHP commissioned utilisation reviews of a large number of primary care practices in North Central London. Working under sub contract from Capita Property & Infrastructure, Ambercycle undertook the surveys and analysed the data. Challenge To design a generic survey for a variety of premises types offering a wide range of services that would help identify underutilisation/capacity and provide useful data to help inform strategic estate planning. Not all practices were keen to participate so there were logistical challenges too. Approach The survey, undertaken on site but consultatively with practice staff, examined utilisation by room type and service from 8am-8pm over a 7-day week in 1-hour sessions. Results Successfully surveyed 78 primary care premises over 10 week period. Undertook analysis of over 10,000 data records and provided reports at practice, borough/CCG and sub-regional levels. Community Health Partnerships
13 Feasibility Study Bingfield Context The CCG commissions a wide range of healthcare services across one of inner Londons most socially diverse boroughs, with large areas of deprivation and some regeneration. Challenge Committed to one of the most expensive and underutilised LIFT assets in a socially deprived area of inner London, the CCG sought ideas to revitalise the building and improve recovery of costs. Approach Having carried out a detailed utilisation review and examination of the building layout we identified opportunities to convert two large offices and a meeting room into six multi-service, bookable consulting rooms and entered dialogue with range of local healthcare service providers to use them. Results A detailed report and business case to support the capital funding application (ETTF) for the works. Negotiations commenced with landlord and service providers. NHS Islington CCG
14 Feasibility Study - Archway Context The CCG commissions a wide range of healthcare services across one of inner Londons most socially diverse boroughs, with large areas of deprivation and some regeneration. Challenge The CCG, working closely with Islington Council sought to integrate and replace and a poorly accessible primary care practice with poor quality premises together with a new library as part of a regeneration scheme in a landmark location. Approach We led negotiations with the developer and brokered dialogue with the council to act as lead tenant and secure a workable building envelope for an integrated facility with adequate means of access and circulation and a floor plate that could deliver a flexible model. Results Negotiations are ongoing but Stage 1 report concluded there was positive potential benefit from such an approach. Next stage will be to finalise the development agreement and terms of occupation. NHS Islington CCG
15 Estate Consultancy Context The CCG commissions a wide range of healthcare services across Londons most populous borough, with one of the highest retired cohorts and some areas of deprivation and regeneration. Challenge The organisation was financially stretched and one of the greatest challenges it faced was to meet liabilities for subsidies in expensive [LIFT] buildings and cover the cost of void areas. Approach Working under sub contract from Carter Jonas, we worked with Community Health Partnerships and NHS Property Services to renegotiate costs and with a range of other healthcare providers and stakeholders to devise a more robust local estate strategy. Results Secured annual recurrent savings of 贈4m, played a key role in Barnet Councils One public Estate 3 bid [贈350m], resolved local estate management issues and laid foundations for a healthier NHS estate. NHS Barnet CCG
16 The Forum Context Cambridge University Hospital Partners 2020 vision is already becoming reality for the development of the Addenbrookes site into the Cambridge Biomedical Park with the arrival of the UK Medical Research Council and the new Papworth Hospital due to open in 2016. Challenge CUH were seeking an innovative solution for an integrated commercial hub for the site providing retail, hotel & conferencing facilities, a learning hub, private patient centre and car parking. Approach Ambercycle played an important part in John Laings bid team for the project, helping to balance the Trusts needs and aspirations with those of prospective commercial funding partners. Results A lease structure able to support an institutional forward funding approach while adapting to mixed- risk income streams from different elements of the scheme. John Laing selected as preferred partner. John Laing Plc & Cambridge University Hospital NHS Foundation Trust
Lucille van Geest MH Unit 17 Peterborough & Stamford Hospitals Foundation NHS Trust Context Trust had relocated to new PFI at Bretton. Peterborough District Hospital site mainly surplus and Trust planning development partnership to optimise value. Challenge Cambridgeshire Partnership Trust (MH) occupied LVG day centre and in-patient unit and other offices on site under separate long- term leases. Services could not be relocated without consulting with the Trust, service users and families. Approach We worked with the service providers to assess different options for providing the service in different ways and timescales for site withdrawal. We also assessed the financial cost of reprovision and identified ways to mitigate the impact on our client. Results We worked with the client to identify part of the Bretton hospital site, release the Trust from an option agreement and negotiate access from the PFI provider.
18 Estate Solutions Review (Stage 1) Context Acute trust, PCT & County Council with diverse and disparate asset holdings (incl. a major hospital PFI) working together to secure provision of locally managed, joined-up services. Challenge The trusts and council wanted to explore ways releasing efficiency savings and optimising capital returns from the estate to fund joint service improvements. Approach Undertook first stage investigation and financial modelling of land value potential & profit-sharing from development of trust estate using an asset- backed joint venture structure. Results Stage 1 report concluded there was positive potential benefit from such an approach. Next stage review pending advice from Strategic Health Authority on partnership structuring in light of DH guidance on PCT estate. Wye Valley NHS Trust & NHS Herefordshire
19 Project Arkansas (Stage 1) Context Acute trust operating from two in-patient hospitals and multiple outpatient sites leading to inefficiency and compromising position in wider health economy. Challenge Devise and evaluate options for rationalising estate to help release cost savings and improve operational efficiency. Approach Undertook demographic & travel-time studies and engaged with sub-contracted specialist healthcare planners to model clinical activity and assess effects of alternative estate & service-delivery configurations using 15-year financial model. Results Stage 1 report considering positive, innovative and radical options alongside more conventional rationalisation plans welcomed by Trust board and being taken forward in Stage 2 as part of Shaping the Future of East Berkshire Heatherwood & Wexham Park Hospitals Foundation NHS Trust
20 Estate Strategy Review (Stage 1) Context Acute trust operating from three in-patient hospitals seeking to unlock surplus land to benefit its local partnerships for education, R&D and other complementary uses and secure its position in wider health economy. Challenge Thwarted by parliamentary commission from closing an outpost hospital and with operations split between two main campuses 1 mile apart, one suffering from poor road access, the trust was seeking ways to rationalise its estate. Approach We parcelled and appraised the land according to complementary alternative use potential, commissioning a traffic management review to unlock inaccessible areas. Results Stage 1 report concluded identified significant development potential and the ensuing engagement in UDP consultation has resulted in a flexible development brief. Oxford Radcliffe Hospitals NHS Trust
[Heart of East] Greenwich Square 21 Context Acute trust operating from 3 in-patient hospitals. Former hospital replaced by major PFI on alternative site. Site sold for redevelopment subject to overage provisions. Challenge Market had changed since development agreement with HCA and [time-limited] overage provisions in favour now punitive. HCA made cash offer to buy out overage provisions to kick-start development Approach Liaised with lawyers to assess implications and reviewed Heart of East Greenwich place-making development plans, appraised site value relative to development agreement and modelled alternative phasing/implementation programmes to increase value. Results Delivered successfully against 3-week timescale to advise Trust board on negotiating strategy. South London Hospitals Foundation NHS Trust
22 Site Strategy Review Context Major educational charity with remote, potentially high value but highly constrained campus and listed building in parkland setting adjacent to golf course and executive housing. Challenge Some day facilities on site still appropriate but the organisations modus operandi had changed over time and providing institutional residential care no longer met best practice nor its clients needs. They wanted to explore ways releasing this restrictive asset to reinvest in modern non-residential facilities in more urban settings. Approach Undertook a detailed appraisal of campus in parcels considering a range of land use and delivery options that could let RLSB remain in occupation of operational facilities during phased withdrawal. Results Identified that residential care village development offered best returns, use of listed building and phased implementation. Deal now struck with developer/operator. Royal London Society for Blind People

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Strategic estate planning v2 6

  • 1. Strategic Estate Planning Development & Healthcare Case Studies Lester Wagman
  • 2. 2 NHS Cavell Centre We are currently advising Spelthorne Borough Council on the development of one of the new integrated multi-disciplinary Cavell centres as mart of an exciting mixed-use town centre regeneration scheme Appraisal of development potential Negotiation of capital values best value advice Structuring of lease and development agreements Asset management of completed scheme Staines, Middlesex
  • 3. 3 Integrated Health Care Centre We are currently advising the private landlord of a large modern integrated healthcare centre in North East London, originally constructed under NHS LIFT and leased to the NHS on a Lease+ Liaison with NHS occupiers and head tenant NHS Property Services Co-ordination of life-cycle repairs to the building Financially modelling different options for asset disposal Negotiations with NHS around lease restructure to support longer term operational viability Ilford, Essex
  • 4. 4 Pre-disposal Housing Amenity Land Working with Rona London we are currently advising Enfield Council on the disposal of a number of small land parcels from their Housing Revenue Account Liaison with tenants, homeowners and Council team Advice on values and conditions for disposal Consideration of wider asset management opportunities Advice on tenure and protective covenants Enfield
  • 5. 5 Primary Healthcare Developments In 2020 we are advising public and private sector landowner and developer clients on the creation of 5 separate new NHS primary care hubs. The context and brief is different in each case but all projects involve Appraisal of development potential Negotiation of rental values and support through business case process Structuring of lease and development agreements Valuation and/or forward sale of completed asset Croydon, West Sussex, Milton Keynes, Oxfordshire
  • 6. 6 Primary Healthcare Business Case We authored the CCGs combined outline and full business case (FBC) for the development and fit of a new 1,181 sq.m integrated health and wellness centre, forming part of Poplar HARCAs regeneration of the Aberfeldy estate. The new centre is a cornerstone of the WellOne intiative, part of the NHS Five Year Forward View, to meet needs of a local population with high levels of deprivation which is forecast to double by 2040. The premises will be leased to the NHS healthcare practice and the 贈3.5m fit out will be largely funded by developers s.106 contributions from other schemes in the locality. Aberfeldy New Village, Poplar, East London
  • 7. 7 Land option & development agreement In 2020 we advised three individual co-owners of approx. 1.5 acres of land adjoining a major development site for 500 homes adjacent to a junction on a major arterial route. However as well as having no rights of access the land in question had been designated as greenbelt in the local authoritys recent plan review. With two of the owners being past retirement age they wished to realise the optimum value for their asset. Having approached a number of promoter-developers none of whom were keen to commit much early capital we persuaded the owners of the adjoining development to pay a significant fee/premium for a leasehold development agreement with future value-sharing agreed and final freehold acquisition option. Working closely with the lawyers the resulting arrangement proved tax efficient for both the vendors IHT planning and the developer's future CGT liability. Hillingdon, West London
  • 8. 8 Development Consultancy Context Barnet Enfield & Haringey Mental Health NHS Foundation Trust had declared the property surplus to operational requirements. Haringey Council wished to acquire the site for a local public service project. Challenge To support local services the Trust wished to transfer the property to the Council for market value in a solus transaction without a full market externalisation process. The agreed transfer cost needed to be supported by 2 concurring professional valuations. The Council benefited from an historic title covenant restricting the use of the property. Approach Having undertaken our own valuation we negotiated with DVS for them to take adequate account of the effect of the covenant. Results Successfully negotiated a substantial capital receipt for the Trust within tight timescale Canning Crescent Centre Wood Green
  • 9. 9 Estate Development Strategy Context This busy acute and community Trust in a densely populated area sought to reconfigure and modernise its estate to support the vital role it had carved out for itself in the local health economy. Challenge Although residential property values in Croydon are not as strong as other parts of the capital this site fronts a main arterial close to a large commercial centre and main transport connections. Approach We worked with master planners to quantify and optimise development opportunity from parcelling land for disposal. This work has supported the development of the Trusts main site Development Control Plan which involves the construction of a multi-storey car park and relocation of its existing maternity wing as enabling development. Results Successfully re-planned site to inform estate strategy options. Croydon Health Services NHS Foundation Trust
  • 10. 10 Site Strategy Context Following the transfer of some teaching activities to its new Colindale campus the College was looking to rationalise its activities at Southgate with a view to releasing land to generate capital. Challenge Site constraints included main access to the site shared with local public library site (also surplus for development), a very narrow secondary access to the site, part shared access with local Royal Mail depot and sorting office and underground railway (Piccadilly Line) passing under part of the site at shallow depth. Approach We worked with the Colleges master planners to devise and appraise alternative use development options for three different parcels of land including one for high density student housing Results Successfully re-planned site to inform estate strategy options. Barnet & Southgate College Southgate Campus
  • 11. 11 Development Consultancy Context The College had previously agreed to sell surplus land from its new campus in Colindale, London NW9, to a major house builder. Its original agreement with the developer included a substantial overage provision but despite there having been significant house price growth, the property market had since stalled/cooled. Challenge The developer was looking to crystallise and make an early settlement of its overage liability to offset this for tax against large surpluses it had made in that financial year. Approach We undertook a detailed analysis of the developer's construction programme, plotting this against projected indices for house price growth with varying confidence intervals. Results Successfully negotiated a substantial capital payment for the college. Barnet & Southgate College Colindale Campus
  • 12. 12 Building Utilisation Review Context To inform bids under the NHS Estates & Infrastructure Transformation Fund, CHP commissioned utilisation reviews of a large number of primary care practices in North Central London. Working under sub contract from Capita Property & Infrastructure, Ambercycle undertook the surveys and analysed the data. Challenge To design a generic survey for a variety of premises types offering a wide range of services that would help identify underutilisation/capacity and provide useful data to help inform strategic estate planning. Not all practices were keen to participate so there were logistical challenges too. Approach The survey, undertaken on site but consultatively with practice staff, examined utilisation by room type and service from 8am-8pm over a 7-day week in 1-hour sessions. Results Successfully surveyed 78 primary care premises over 10 week period. Undertook analysis of over 10,000 data records and provided reports at practice, borough/CCG and sub-regional levels. Community Health Partnerships
  • 13. 13 Feasibility Study Bingfield Context The CCG commissions a wide range of healthcare services across one of inner Londons most socially diverse boroughs, with large areas of deprivation and some regeneration. Challenge Committed to one of the most expensive and underutilised LIFT assets in a socially deprived area of inner London, the CCG sought ideas to revitalise the building and improve recovery of costs. Approach Having carried out a detailed utilisation review and examination of the building layout we identified opportunities to convert two large offices and a meeting room into six multi-service, bookable consulting rooms and entered dialogue with range of local healthcare service providers to use them. Results A detailed report and business case to support the capital funding application (ETTF) for the works. Negotiations commenced with landlord and service providers. NHS Islington CCG
  • 14. 14 Feasibility Study - Archway Context The CCG commissions a wide range of healthcare services across one of inner Londons most socially diverse boroughs, with large areas of deprivation and some regeneration. Challenge The CCG, working closely with Islington Council sought to integrate and replace and a poorly accessible primary care practice with poor quality premises together with a new library as part of a regeneration scheme in a landmark location. Approach We led negotiations with the developer and brokered dialogue with the council to act as lead tenant and secure a workable building envelope for an integrated facility with adequate means of access and circulation and a floor plate that could deliver a flexible model. Results Negotiations are ongoing but Stage 1 report concluded there was positive potential benefit from such an approach. Next stage will be to finalise the development agreement and terms of occupation. NHS Islington CCG
  • 15. 15 Estate Consultancy Context The CCG commissions a wide range of healthcare services across Londons most populous borough, with one of the highest retired cohorts and some areas of deprivation and regeneration. Challenge The organisation was financially stretched and one of the greatest challenges it faced was to meet liabilities for subsidies in expensive [LIFT] buildings and cover the cost of void areas. Approach Working under sub contract from Carter Jonas, we worked with Community Health Partnerships and NHS Property Services to renegotiate costs and with a range of other healthcare providers and stakeholders to devise a more robust local estate strategy. Results Secured annual recurrent savings of 贈4m, played a key role in Barnet Councils One public Estate 3 bid [贈350m], resolved local estate management issues and laid foundations for a healthier NHS estate. NHS Barnet CCG
  • 16. 16 The Forum Context Cambridge University Hospital Partners 2020 vision is already becoming reality for the development of the Addenbrookes site into the Cambridge Biomedical Park with the arrival of the UK Medical Research Council and the new Papworth Hospital due to open in 2016. Challenge CUH were seeking an innovative solution for an integrated commercial hub for the site providing retail, hotel & conferencing facilities, a learning hub, private patient centre and car parking. Approach Ambercycle played an important part in John Laings bid team for the project, helping to balance the Trusts needs and aspirations with those of prospective commercial funding partners. Results A lease structure able to support an institutional forward funding approach while adapting to mixed- risk income streams from different elements of the scheme. John Laing selected as preferred partner. John Laing Plc & Cambridge University Hospital NHS Foundation Trust
  • 17. Lucille van Geest MH Unit 17 Peterborough & Stamford Hospitals Foundation NHS Trust Context Trust had relocated to new PFI at Bretton. Peterborough District Hospital site mainly surplus and Trust planning development partnership to optimise value. Challenge Cambridgeshire Partnership Trust (MH) occupied LVG day centre and in-patient unit and other offices on site under separate long- term leases. Services could not be relocated without consulting with the Trust, service users and families. Approach We worked with the service providers to assess different options for providing the service in different ways and timescales for site withdrawal. We also assessed the financial cost of reprovision and identified ways to mitigate the impact on our client. Results We worked with the client to identify part of the Bretton hospital site, release the Trust from an option agreement and negotiate access from the PFI provider.
  • 18. 18 Estate Solutions Review (Stage 1) Context Acute trust, PCT & County Council with diverse and disparate asset holdings (incl. a major hospital PFI) working together to secure provision of locally managed, joined-up services. Challenge The trusts and council wanted to explore ways releasing efficiency savings and optimising capital returns from the estate to fund joint service improvements. Approach Undertook first stage investigation and financial modelling of land value potential & profit-sharing from development of trust estate using an asset- backed joint venture structure. Results Stage 1 report concluded there was positive potential benefit from such an approach. Next stage review pending advice from Strategic Health Authority on partnership structuring in light of DH guidance on PCT estate. Wye Valley NHS Trust & NHS Herefordshire
  • 19. 19 Project Arkansas (Stage 1) Context Acute trust operating from two in-patient hospitals and multiple outpatient sites leading to inefficiency and compromising position in wider health economy. Challenge Devise and evaluate options for rationalising estate to help release cost savings and improve operational efficiency. Approach Undertook demographic & travel-time studies and engaged with sub-contracted specialist healthcare planners to model clinical activity and assess effects of alternative estate & service-delivery configurations using 15-year financial model. Results Stage 1 report considering positive, innovative and radical options alongside more conventional rationalisation plans welcomed by Trust board and being taken forward in Stage 2 as part of Shaping the Future of East Berkshire Heatherwood & Wexham Park Hospitals Foundation NHS Trust
  • 20. 20 Estate Strategy Review (Stage 1) Context Acute trust operating from three in-patient hospitals seeking to unlock surplus land to benefit its local partnerships for education, R&D and other complementary uses and secure its position in wider health economy. Challenge Thwarted by parliamentary commission from closing an outpost hospital and with operations split between two main campuses 1 mile apart, one suffering from poor road access, the trust was seeking ways to rationalise its estate. Approach We parcelled and appraised the land according to complementary alternative use potential, commissioning a traffic management review to unlock inaccessible areas. Results Stage 1 report concluded identified significant development potential and the ensuing engagement in UDP consultation has resulted in a flexible development brief. Oxford Radcliffe Hospitals NHS Trust
  • 21. [Heart of East] Greenwich Square 21 Context Acute trust operating from 3 in-patient hospitals. Former hospital replaced by major PFI on alternative site. Site sold for redevelopment subject to overage provisions. Challenge Market had changed since development agreement with HCA and [time-limited] overage provisions in favour now punitive. HCA made cash offer to buy out overage provisions to kick-start development Approach Liaised with lawyers to assess implications and reviewed Heart of East Greenwich place-making development plans, appraised site value relative to development agreement and modelled alternative phasing/implementation programmes to increase value. Results Delivered successfully against 3-week timescale to advise Trust board on negotiating strategy. South London Hospitals Foundation NHS Trust
  • 22. 22 Site Strategy Review Context Major educational charity with remote, potentially high value but highly constrained campus and listed building in parkland setting adjacent to golf course and executive housing. Challenge Some day facilities on site still appropriate but the organisations modus operandi had changed over time and providing institutional residential care no longer met best practice nor its clients needs. They wanted to explore ways releasing this restrictive asset to reinvest in modern non-residential facilities in more urban settings. Approach Undertook a detailed appraisal of campus in parcels considering a range of land use and delivery options that could let RLSB remain in occupation of operational facilities during phased withdrawal. Results Identified that residential care village development offered best returns, use of listed building and phased implementation. Deal now struck with developer/operator. Royal London Society for Blind People