Value extractor
Estates Review reports on the launch of a new force in property that aims to ensure you get the most from every project
2008-06-08A newly-launched consultancy says it can guarantee it will provide its clients with the best opportunity to extract the maximum value from their developments.
This bold claim is being made because the consultancy, for the first time, brings together the expertise of a lender and a property development specialist. Two businesses – short-term and mezzanine lender Cheval Property Finance Plc and Greenbrook Property Development Consultancy Ltd – are combining under one roof to form Greenbrook – A Cheval Company.
Greenbrook has 16 years’ experience, making property deals ‘happen’ for landowners from blue-chip companies through to private clients. While Cheval, in addition to being a lender in its own right, has over a period of 12 years built relationships with banks, specialist mezzanine providers, hedge funds and has extensive experience structuring complex debt transactions for the acquisition of property.
It is claimed that the mix of the two skill sets will mean clients can obtain end-to-end support and ensure no element of their project is overlooked, whether it be commercial or residential.
Ellis Sher, managing director of Cheval Property Finance plc, said: “The mix of skills means that we can take a big picture view of the whole proposal. It could be that the client has not considered all the financial options open to him or the development routes to take. In either case our intention is to have all the bases covered and provide an optimal solution.”
Head of Greenbrook, Patrick Mahoney said: “We envisage that the cross over between our advisory business and the Cheval lending operation will give us a key USP in the marketplace. We can offer a single-source solution to all of the client’s development needs.”
Greenbrook – A Cheval Company, will provide expertise in:
Expert assistance – project appraisal, planning prospects and ‘best-advantage’ submission of planning application, team assembly, preparation of construction tender, procurement and on-site management.
Tax – Up-front tax planning is an important part of maximising net returns, so a full review of the tax implications of a property’s development covering Stamp Duty, VAT, Capital Gains Tax, Income Tax and Inheritance Tax.
Property management – professional property management for owner clients, from day-to-day operational issues to proactive asset enhancement. Freeing client time to focus on building their core business.
Legal – transactional advice from a team of in-house solicitors through to bespoke title and planning.
Sales and lettings – pre-letting and pre-sales are an important component of securing funding, so via a network of agents clients are introduced to prospective buyers and tenants.
The new venture, which will target deals with a minimum £5m gross development value, can provide individual specialist services, or a full turn-key solution to a client who wants to take less of a hands-on role. Everything from involvement across the whole lifecycle of a development, to ‘light-touch’ advice on individual aspects.
Greenbrook believes the real acid-test for its success is the delivery of value, so many of its fees are contingent on success. Charges are usually based on the delivery of agreed milestones, for example obtaining planning permission, getting the required finance delivered to schedule, ensuring building work is completed on time, etc.
If the mutually-agreed milestones aren’t met, the fees that are delivery dependent are waived. Over and above the retainer, there will be no fee - it is as simple as that. Unlike some, Greenbrook is happy to be put to the test.
Contact details
t: 0844 800 3200
f: 0844 800 3207
m: 07515 334385
e: info@greenbrookgroup.co.uk
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