STATISTICS

  • Multi-let retail and office building
  • Total Value – circa £12m

CHALLENGE

  • Colliers International, Birmingham were instructed to provide a valuation of a freehold investment property for loan security purposes for Nationwide Building Society.

STRATEGY

  • Nationwide Commercial are providers of specialist financial products for the acquisition and refinance of commercial property.
  • Colliers International were instructed by Nationwide to provide a ‘Red Book’ valuation for secured lending purposes in respect of a landmark retail and office block at the top end of prime shopping area of New Street in Birmingham.
  • The property comprised a block of five lock- up retail units let to national high street tenants along with three floors of office accommodation let to a Government agency.
  • The property had a combined aggregate rent payable of approximately £800,000 per annum with an average unexpired term in excess of ten years.
  • The property was valued at circa £12 million.

SERVICES

  • Valuation

RESULTS

  • Robust and timely valuation advice provided to Nationwide Building Society.
    Quality reporting service.
  • Annual update valuations have subsequently been provided.
  • Asset management initiatives identified and reported to both the lender and borrower.