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SFT Strategic Disposals

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SFT Strategic Disposals SFT Strategic Disposals Accelerating Receipts & Increasing Certainty Paul Devine & Anna Tozer www.scottishfuturestrust.org.uk Strategic Disposals To accelerate receipts & deliver best value from ASSISTING surplus assets with; : • NHS SCOTLAND (200 sites) • SCOTTISH FUNDING COUNCIL (8 sites) • POLICE SCOTLAND (150 sites) Using; • Shared knowledge • Increased market profile • Additional resources • Investment www.scottishfuturestrust.org.uk Glasgow Public Sector Pipeline www.scottishfuturestrust.org.uk NHS Portfolio Characteristics • Diverse range of locations • Significant number of listed buildings • Varied constraints & infrastructure requirements • Varied market demand & viability • Significant city centre sites www.scottishfuturestrust.org.uk NHS Surplus – Key Projects Highland Grampian Greater Glasgow and Clyde Valley Lochgilphead Cornhill Hospital Broomhill Denburn Health Centre Cowglen Woolmanhill Merchiston Hospital Raeden Stoneyetts Hospital Inverurie Russell Institute Johnstone Hospital Tayside Victoria Infirmary Ashludie, Monifieth Dykebar Sunnyside, Montrose Yorkhill/Queen Mother Liff Hospital, Dundee Ravenscraig Hospital Murray Royal, Perth Mansionhouse Nurses Home, Perth Other Monifieth IT Centre Fife Ayrshire and Arran Lynebank, Dunfermline NACH, Irvine Forth Park, Kirkcaldy Netherlea Seafield House, Ayr Lanarkshire Strathlea Stratheden, Cupar Cleland Hospital Lothian Hartwood Hospital Strathclyde Hospital Edenhall, Musselburgh Kirklands Hospital, Coatbridge Bangour Village Hospital Law Hospital Royal Hospital for Sick Children Key: Hopeton Unit, Haddington Red = Listed Roadmeeting Hospital, Carluke Stonehouse Hospital Corstorphine Hospital Other Astley Ainsley Hospital www.scottishfuturestrust.org.uk Key Considerations Wider Agendas Site Specific Issues Resourcing Disposal Strategy • Informed Portfolio • Market • NHS Boards • Accelerating demand/use Approach • Advisors receipts & • Planning strategy development • Emerging • Local Authorities Legislation • Site constraints • Reducing risk & conditionality • Housing agenda • Stakeholder engagement • Minimising • Public sector liabilities collaboration • Pre-disposal • Focus on delivery work/team • Wider opportunities to • Timescales enhance value www.scottishfuturestrust.org.uk Ashludie Hospital, Monifieth Strong One Listed housing Building market area TPO over whole site • Development Framework procured • Site taken to market with parameters agreed with planning authority • Benefits of clarity on developable areas/required treatment of listed building/ground conditions/likely developer contributions • Clear residential market driven solution for the site www.scottishfuturestrust.org.uk Market Context • Improved demand and confidence across main market sectors • Competition for deliverable sites • Limited funding for up front infrastructure investment (particularly for smaller players) • Timescales on planning/Section 75 • Timing/phasing of payments • Advisory market – procurement and fees www.scottishfuturestrust.org.uk Key Challenges • Listed buildings • Addressing sites with significant constraints • Infrastructure delivery • NBV vs Open Market Value • Other issues related to delivery of receipts? www.scottishfuturestrust.org.uk Key Opportunities • Early engagement and preparation • Valuation & impairment planning • Pre-disposal work to reduce risk • Robust evaluation of bids • Capturing other agendas to add value • Portfolio approach - shared knowledge & increased consistency • Focus on advisor and developer performance • Alternative deal structures/payments www.scottishfuturestrust.org.uk Feedback/Discussion www.scottishfuturestrust.org.uk .
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