CHALLENGE
The Trustees of a privately owned estate situated on the outskirts of Edinburgh wished to undertake a strategic review of the Estate and sought independent advice and guidance as to what opportunities were available with regard to ownership and future use. The Trustees required the review to be wide-ranging. Savills were invited to tender and successfully won the instruction.
SOLUTION
Savills conducted an all-encompassing review considering:
- A sale of the entire Estate, on either a freehold or long leasehold basis
- Part(s) of the Estate being sold with the remainder of the Estate being retained
- Part(s) of the Estate being rented for an extended period
- Either hotel, leisure or alternative use
- What tourism opportunities exist for the Estate as whole or for individual parts, and what revenue or capital might be derived therefrom
- What commercial opportunities exist for the whole of the Estate or part of it, and the revenue or capital that might be derived from that
- Whether opportunities exist to partner with a commercial organisation to exploit the Estate from either a leisure or commercial prospective, identifying each of those opportunities and the revenue or capital that could conceivably be generated from that
- The status quo.
RESULTS
A comprehensive review was undertaken, with the recommendations presented in a formal report format and followed by an in-person presentation to the Trustees.
The review has been well received and used as the basis for informing the future opportunities available to the Trustees in order to help them maximise the benefit of the commercial value of the estate to the family in the wider context.