The role included:
- Undertaking a detailed review of the properties including their general historic performance, profile in the wider market, general condition, planning and market backdrop, staffing structures and operations, occupancy, user and rental profiles.
- Highlighting key findings, opportunities and risks associated with the assets.
- Contributing to and reviewing potential 3rd party management and marketing proposals and revenue and capital budgets.
- Advising on the re-positioning of each asset and alternative hold / exit strategies to realise added value.
- Proceeding with the agreed asset management and exit strategies for both properties including the preparation of targeted works packages, HiMO certification, planned maintenance regimes, IT solutions and pro-active marketing campaigns.
- Providing executive support and direction to the on-site teams and re-establishing relationships with principal stakeholders including local universities.Reporting regularly to the administration teams
Having stabilised the assets over an 18 month period and re-positioned them in the market place, both schemes have been marketed for sale.
Firhill Court in Glasgow was successfully sold by private treaty in December 2012 at a significant premium to the original value placed on the asset at the commencement of the administration process. Campus acted as joint selling agents and steered the due diligence process with the purchaser. The purchase was completed within three weeks of solicitors being instructed.
The 99-bed Printhouse scheme in Loughborough was marketed for sale by private treaty in 2013, with Campus acting as joint selling agent