JON MILWARD Head of Development Drivers Jonas Disposal Strategy: RNOH Stanmore.
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Transcript of JON MILWARD Head of Development Drivers Jonas Disposal Strategy: RNOH Stanmore.
Recommendations
• Establish Footprint and Floorspace for Hospital and Surplus Land Redevelopment
• Agree Planning Statement with Harrow Council• Submit Revised Outline Planning Application• Establish Marketing and Disposal Strategy to Optimise Timing
and Level of Receipts• Linkage between Hospital Development and Sales• Receipts from West End Land Sale – 2010 / 2011• Receipts from East End Land Sale – 2014 / 2015
Risk Mitigation
• Extent of Work Prior to Disposal• Creating Certainty vs. Market Risk
– Planning– Hospital Proposals (timing / footprint / access etc)– Site Information (title, services, contamination etc)– Value
• Timing / Method of Disposal
Defence Estates –Chelsea Barracks
• £959 million - Unconditional (April 2007)
• Height of the Market
• Inflated Sales Figures
• Halved in Value (if on the market today)?
LFEPA HQ - 8 Albert Embankment
• Fire Station Headquarters
• Mixed Use – Residential Led
• New Fire Station
• Subject to Planning Deal
Founder’s Place – Guy’s and St Thomas’ Charity
• Detailed Planning Consent granted on appeal
• Support accommodation for Guy’s and St Thomas’s
Foundation NHS Trust
• 400 Private and key worker units – minimal social
rented housing
Surrey & Borders / Ashford St Peters NHS Trusts, Chertsey
• Green Belt
• Hospital Master Plan / Application
• Surplus Land
• Risk Mitigation Strategy
Current Market Conditions
• Don’t Sell Unless You Have To• Land Sale Values have Fallen because:
– Banking constraints– Wider Economic Circumstances– Restricted Access to Mortgages– Over-Supply in SOME Areas– Developers Looking for Bargains
• Future Prospects – Crystal Ball Gazing– HBF forecasts = 2009 (-2.1%); 2010 (+1.3%); 2011 (+5.2%);
2012 (9.2%)– DJ view – Land Values are, and will be, Hit Harder
• Conclusion – HOLD and Prepare for Upturn – 2010 / 2011