Service: Valuations | Sector: Charities & Religious | Contact: William Ray
The Challenge
English UK – the national association of accredited English language centres in the UK and a registered charity – considered their offices not fit for purpose and wanted to understand what options were available to them. We were appointed to undertake a valuation and appraise their options.
The Solution
After detailed discussion with the Trustees, we fully understood the issues and objectives. Our advice outlined the value of their St John’s Street property, and clearly set out the options available to them, including detail on implementation and cost. The decision was taken to dispose of the asset and move to more suitable office premises.
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The Result
Following our valuation and options advice, we were appointed to market the building, which we sold subject to a leaseback while alternative offices were sourced. We identified and secured new premises in Borough, south London, undertook a building survey and provided the necessary management of the transaction including full Charities Act compliance. Our expertise allowed English UK to use the funds from the disposal while ensuring minimal disruption.
We contacted Gerald Eve to help us understand our options for our head office in the City of London. Our principal concern was the office space was no longer suitable for our current working needs, particularly with office space spread over different floors of an old building. Gerald Eve helped us understand our freehold property including the value and potential option, including relocation. They guided us through the options and helped us sell the property and release substantial funds which we used to purchase better suited accommodation. Their expertise in the particular markets and knowledge and understanding of charity legislation helped us identify and secure our new premises and meet our objectives. They were attentive and professional and we are very pleased with the work Gerald Eve have undertaken for us.
Sarah Cooper, Chief Executive English UK
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