Property Agent for the Disposal of Lambeth Hospital

The South London and Maudsley NHS Foundation Trust has invested in the development of two new clinical buildings, namely Douglas Bennet House & the Pears Maudsley Centre for Young Persons Mental Health. These facilities have allowed for a reorganisation of services, resulting in the Lambeth Hospital site becoming surplus to requirements. The brief was to market and sell the property on behalf of the Trust. The requirement was divided into two stages:

Stage 1:

Manage the scoping, procurement, and project management of site due diligence for the Lambeth Hospital sale. Services included:

• Recommending the appointment of consultants (demonstrating best value to the Trust), coordinating and overseeing all site due diligence and marketing strategy activities.
• Provide market advice and intelligence to prepare the Property for sale in line with agreed sale objectives, reviewing the information available and collating technical due diligence required to protect enhance value.
• To appraise the project to identify value parameters to assist in setting a clear pricing message.
• To development and coordination of the marketing strategy, attending any workshops, meetings and briefings as required by the Trust.

Stage 2:

Sell the site with the benefit of current (or amended) planning consents. Services included:

• To offer the Property for sale as a Freehold development opportunity.

To undertake a far and wide marketing campaign to satisfy Trust governance.

• To manage the preparation of all necessary marketing materials, utilising third party marketing and design agencies as required (and as agreed with the Client).
• Prepare relevant marketing materials.

To present the opportunity to the market with presentations to potential purchaser, undertake site inspections and provide relevant information.

• Act as main point of contact in the market, facilitating discussions, leading the negotiations.
• To provide regular updates to the Client throughout the process and maintain the marketing data room.
• To monitor market performance and advise the Client accordingly.
• To drive value through competitive bidding.
• To invite second round bids, interview and select the preferred purchaser.
• Coordinate and evaluate returns in accordance with pre agreed evaluation criteria.
• Engagement with KPMG to undertake all work required to complete the business case- roles to be agreed
• To negotiate Heads of Terms of sale and liaise with Lawyers through to completion taking instructions from the Client on commercial and legal issues.

The contract value consists of a once off contract fee for marketing and due diligence, thereafter fixed percentage basis against the Gross Land Value up to a maximum amount thereafter an incentivised element in addition to the base fee will apply.