Project Chrome Portfolio - HSBC Valuation
The Valuation and Advisory Services Department undertook a valuation of the £103m Project Chrome portfolio on behalf of HSBC.
This consisted of 40 properties comprising a mix of Central London residential and south east England mixed residential and commercial properties on behalf of the purchasers. The portfolio was one of the largest sales undertaken by NAMA in 2012.
- Colliers were instructed by HSBC to assist in their decision as to whether to help finance a joint venture (Development Securities and the Pears Group) to purchase from NAMA a property portfolio owned by the Gerard Gannon Group.
- Colliers inspected each property
- Undertook market research for valuations for loan security purposes
- Prepared full detailed reports
- Liaised with other professionals including solicitors, building surveyors and HSBC’s environmental provider
- Due to quality of initial information extensive liaison with Borrower and solicitors to obtain correct information
- Project completed
- Loan entered into
- Portfolio purchased