Commercial Portfolio Review - Cushman & Wakefield

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Commercial Portfolio Review


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The Challenge

Hull City Council required Cushman & Wakefield to develop a clear strategy to protect and grow the income from its non-operational portfolio and to provide continued financial support to Council services. The portfolio comprised around 1,400 assets including retail, office and industrial properties as well as a large ground lease portfolio.

The key challenges they faced were as follows:
  • Core funding cuts impacting on all aspects of the Authority’s operations
  • Establishing how to respond to funding cuts by maximising the capital value and income generated by the commercial portfolio.

The Solution

Cushman & Wakefield’s approach to this commission included the following:
  • Inception meeting with the Council to establish key aims and objectives
  • Early engagement with NPS Humber, the Council’s managing agents
  • Financial analysis by asset type to identify key issues and themes
  • Workshops with Cushman & Wakefield’s investment and agency specialists to identify opportunities for acquisition, disposal and asset management opportunities.

The Results

The key output of this project was a report outlining our observations and recommendations to assist HCC in developing a detailed property strategy for the Commercial Portfolio. Our recommendations covered the following:
  • The approach to asset management
  • Acquisitions and disposals
  • Re-gearing ground leases
  • A four-stage plan for implementing the recommendations made.

CONTACT

Matthew Cliff

Matthew Cliff, Associate Director
+44 (0)113 233 7384

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