Enabling Arts Council England acquisition

Arts Council England instructed HTC to provide a Charities Act compliant valuation report in connection with the acquisition of Grade A office space in Bristol city centre.

Challenge
The instruction was to provide a Qualified Surveyor’s Report, to satisfy the requirements of the Charities Act 2011, in respect of a leasehold acquisition of the 4th floor of 66 Queen Square, Bristol.  The essential requirement was for a very prompt turnaround with the report to include additional commentary on how the proposed acquisition would also provide additional benefits to the charity compared with its existing occupational space.

Solution
HTC’s specialist Valuation team inspected the property at short notice and, in close collaboration with our Office Agency team, provide a truly market-based opinion on the rental value of the property.  The report, which was delivered within a tight timeframe, was supported by detailed comparable evidence and an in-depth understanding of the city centre office market, as well as identified and explored additional occupational benefits.

Result
The report gave Arts Council England the confidence that not only were the provisionally agreed lease terms appropriate and representative but that the proposed move would give considerable improved occupational benefits to the charity’s operation and staff.

 

Louise Georgi

Head of Lease Advisory - Bristol

Bristol

0117 946 4594

Landlord & Tenant | Valuation

Email Louise

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5th November 2020