STATISTICS

  • Portfolio of 5 properties
  • Existing Value – circa £30m
  • Completed Development Value – circa £45m
  • Development Finance Loan of £35m

CHALLENGE

  • Colliers International, Birmingham were instructed to provide a valuation of the property holdings of Unison in order to provide development finance for a new headquarters office building.

STRATEGY

  • Colliers International were instructed by Unity Trust Bank to undertake a valuation of the property holdings of Unison to enable the bank to provide development finance for a new headquarters office building on a former hospital site on Euston Road in London.
  • The portfolio comprised Unison’s current HQ at Mabledon Place, London, the development site at Euston Road, London, and Unison’s regional offices in Birmingham, Cardiff and Newcastle.
  • The portfolio of existing properties was valued at circa £30m.
  • The Completed Development Value of the new headquarters office building was circa £45m.

SERVICES

  • Valuation
  • Building Consultancy

RESULTS

  • The valuation resulted in a development finance loan of £35 million being provided jointly from Unity Trust Bank and Co-operative Bank.
  • Colliers International were subsequently instructed to provide project monitoring services to the lenders concerning the proposed development.