SFT Strategic Disposals Accelerating Receipts & Increasing Certainty Paul Devine & Anna Tozer
Strategic Disposals ASSISTING : To accelerate receipts & deliver best value from 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
Glasgow Public Sector Pipeline
NHS Portfolio Characteristics Diverse range of locations Significant number of listed buildings Varied constraints & infrastructure requirements Varied market demand & viability Significant city centre sites
NHS Surplus Key Projects Greater Glasgow and Clyde Valley Broomhill Cowglen Merchiston Hospital Stoneyetts Hospital Russell Institute Johnstone Hospital Victoria Infirmary Dykebar Yorkhill/Queen Mother Ravenscraig Hospital Mansionhouse Other Ayrshire and Arran NACH, Irvine Seafield House, Ayr Strathlea Key: Red = Listed Highland Lochgilphead Lanarkshire Cleland Hospital Hartwood Hospital Strathclyde Hospital Kirklands Hospital, Coatbridge Law Hospital Roadmeeting Hospital, Carluke Stonehouse Hospital Other Grampian Cornhill Hospital Denburn Health Centre Woolmanhill Raeden Inverurie Tayside Ashludie, Monifieth Sunnyside, Montrose Liff Hospital, Dundee Murray Royal, Perth Nurses Home, Perth Monifieth IT Centre Fife Lynebank, Dunfermline Forth Park, Kirkcaldy Netherlea Stratheden, Cupar Lothian Edenhall, Musselburgh Bangour Village Hospital Royal Hospital for Sick Children Hopeton Unit, Haddington Corstorphine Hospital Astley Ainsley Hospital
Key Considerations Wider Agendas Informed Portfolio Approach Emerging Legislation Housing agenda Public sector collaboration Wider opportunities to enhance value Site Specific Issues Market demand/use Planning strategy Site constraints Stakeholder engagement Pre-disposal work/team Timescales Resourcing NHS Boards Advisors Local Authorities Disposal Strategy Accelerating receipts & development Reducing risk & conditionality Minimising liabilities Focus on delivery
Ashludie Hospital, Monifieth One Listed Building Strong housing 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
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
Key Challenges Listed buildings Addressing sites with significant constraints Infrastructure delivery NBV vs Open Market Value Other issues related to delivery of receipts?
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
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